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Dutch government scrambling to keep ASML in Netherlands -newspaper
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Dutch government scrambling to keep ASML in Netherlands -newspaper
Mar 6, 2024 1:08 AM

AMSTERDAM, March 6 (Reuters) - The Dutch government has

launched a campaign to ensure that the country's largest

company, semiconductor equipment maker ASML, does not

move operations to another country due to anti-immigration

policies, newspaper De Telegraaf reported on Wednesday.

The paper said the ministries involved had dubbed the

effort "Operation Beethoven," citing unnamed sources. A

spokeswoman for the Economic Affairs Ministry said it could not

discuss policies toward specific companies.

The report follows comments made by ASML CEO Peter Wennink

in January when he warned that his company is highly reliant on

skilled foreign labour after anti-immigration parties booked big

gains in 2023 elections.

ASML declined to comment on Wednesday.

Multinationals Shell and Unilever departed the Netherlands

in recent years following an unfavourable change in Dutch tax

law.

A move to end a tax break for highly skilled immigrants is

being rolled out under the current government, while moves to

make it more difficult for foreigners to study at Dutch

universities are under consideration.

"The consequences of limiting labour migration are large, we

need those people to innovate," Wennink said in January. "If we

can't get those people here, we will go somewhere where we can

grow."

Around 40% of ASML's 23,000 employees in the Netherlands are

not Dutch. Europe's largest tech company sources parts from

around the globe but currently assembles its machines in

Veldhoven, Netherlands before shipping them to major computer

chipmakers.

Though it would be difficult for the company to move its

headquarters, De Telegraaf mentioned France as a possible

destination for a company expansion.

Chipmakers across the globe are pouring billions of dollars

in investment to set up new plants, encouraged by the rising use

of semiconductors in everyday devices and generous subsidies

from the United States and the EU aimed at keeping the West

ahead of China in the race for cutting-edge technology.

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