Dear colleagues and friends,
We all have professionally returned to work from our summer vacation schedules and find ourselves three weeks away from the national elections to decide which political party(s) will govern us for the next several years.
So far most of the campaign rhetoric has largely focused on individual personalities rather than issues. For those of us who are concerned about the economic viability of Luxembourg as compared to competing countries this has been disappointing.
A major exception willing to address issues with economic impact has been the Socialist Party which has clearly said they will advocate for a 35-hour work week and the imposition of a national wealth tax to bring additional money into the treasury.
The CSV in presenting Luc Frieden as their lead candidate has suggested they are concerned about economic viability issues and will be strong advocates promoting economic prosperity, but details of what specifically they will do have not yet been forthcoming.
While the Green Party appears to be losing some degree of support, the Pirate Party under the leadership of Sven Clement appears to have some momentum with voters. On that basis we are pleased to present an interview with Mr. Clement who we personally like. Our goal is not to endorse his candidacy but to give him the opportunity to present himself to you all who might vote for him, if you agree with what he has to say and what he stands for. Enjoy the article!
Because we in AmCham are politically nonpartisan but strongly pro-business, we very strongly endorse and encourage all our readers who are eligible to participate in the political processes of the country. Your votes are very important. Please be involved and encourage your colleagues and friends to be involved too.
We hope the largest majority of you share our concerns to advocate to strengthen the Luxembourg economy. Without a strong economy we will not be able to maintain and improve our way of life. I say again, your vote is very important. Please do all the research you can and vote for candidates that represent your values and ideals! We do not tell you who to vote for, but we do hope you will support pro-business candidates!
We have a great fall program on offer: two Christmas celebrations; our Traditional Thanksgiving Gala; a great HR event on the Social Elections presented by Allen & Overy; a joint PWC/Baker Mc Kenzie event on the opportunities and advantages presented to businesses by smart usage of Artificial Intelligence (AI).
One very specific event I want to call out is our second annual Transatlantic Trade and Investment event presented in partnership with AmCham EU, John Hopkins University, the US Embassy and the Ministry of Economy which will be on 18 October 2023 at Deloitte.
For many years the United States has been a very strong partner making substantial contributions to protect and defend Luxembourg and its people. Many years ago, when Luxembourg was unable to feed its population the US welcomed Luxembourg citizens to immigrate to the United States to achieve better circumstances for themselves and their families. As a result, there are now more people of Luxembourg heritage living in the United States than in Luxembourg, and these people have been able to prosper as America has prospered. These people have enjoyed much success with one, Dennis Hastert, even rising to become the Speaker of the US House of Representatives, the third person in the line of succession for the US Presidency!
At the end of the Second World War, American companies were economically subsidized by the US Government to come to Luxembourg to contribute to rebuilding the economy. Dupont, Goodyear and many others are still here contributing to the strength of Luxembourg manufacturing.
Some years later, the American Banks came to Luxembourg and helped build our Luxembourg financial center which is now the second largest in the world after New York.
In more recent years America interests very strongly helped to develop the digital sectors and later Space. America is and has consistently been the preeminent supporter of Luxembourg’s economic prosperity.
Join us at lunch on 18 Oktober at Deloitte for a catered lunch presentation with the American Ambassador, Thomas M. Barrett, Minister of Economy Franz Fayot and others to hear the details of this powerful business partnership which links the USA with Europe and Luxembourg with the USA for the mutual benefit of all parties. You can sign up by clicking HERE with this event free of charge for all attendees!
Also included in this issue are a number of essays and articles written by our members on other business-related topics. Please enjoy these presentations.
Finally, we also include excellent opportunities to save money by shopping with our Partners. Please take advantage of these excellent offers which are found below!
If you are an AmCham member, I thank you seriously for your patronage and support. If you are not, I invite you to contact me personally (Paul@amcham.lu) or our AmCham team. We will be happy to discuss with you the benefits of AmCham Membership and bring you into our family. All passport holders are most welcome!
And again, thank you most seriously for your partnership and support.
With respect and very best wishes,
Chairman and CEO