Sources say the Dutch government has devised a covert operation to stop ASML from expanding overseas

Mondo Military Updated on 2024-03-06

IT House reported on March 6 that the Dutch Cabinet has drawn up a plan called "Operation Beethoven" to ensure that chip equipment manufacturer ASML (ASML) stays in the Netherlands in case the company decides to leave the Netherlands or expand overseas due to staffing and other problems.

ASML is reported to have submitted a number of requests to the Dutch cabinet and said it is also considering expanding abroad.

According to the report, since Shell and Unilever have previously moved their headquarters to the UK, if ASML also loses part of its business, it will be another major blow to the Netherlands, because it is not only about economic interests, but also at the strategic level.

ASML CEO Peter Wennink has previously made it clear that the company is concerned about some public policies in the Netherlands, such as the decision to reduce the 30% tax incentive offered to some expatriate employees.

The ongoing right-wing** plan to reduce the number of highly skilled immigrants from outside the EU, as well as the current housing shortage in the Netherlands, are also worrying ASML. It is reported that ASML currently owns about 230,000 employees, of which about 40% are from overseas.

Dutch Prime Minister Mark Rutte and Economic Affairs Minister Micky Adriaansens will hold talks with Veninke on Wednesday to discuss the business environment in the Netherlands, according to the report.

As of press time, ASML declined to comment on "rumors and speculation".

The Netherlands has a long history of business problems. Last month, a study published by VNO-NCW, a Dutch employers' organization, revealed that around 44% of Dutch company owners do not consider the Netherlands to be an attractive place to do business. The biggest concern for company bosses is the lack of stability, with 82% of respondents saying it's a problem, compared to 66% a year ago. In addition, 60% of respondents believe that the November elections will not bring a stable cabinet.

CEOs are also concerned about red tape, employee shortages and increased taxes, with about a quarter saying they won't make any investments next year.

Meanwhile, Techleap, a Dutch start-up lobby group, has also expressed concerns about the Dutch business environment, in particular the decision to cut the 30% tax advantage, which is considered "necessary to remain Dutch competitive". Nearly a third of the employees of Dutch start-ups and large-scale companies are from abroad.

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