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Business Profile: Copenhagen's role as a traditional north European transport and trade hub has been strengthened by the economic rise of the Baltic States of Estonia, Lithuania and Latvia, and the democratisation of Eastern Europe. The completion of the fixed road link across the Øresund to Sweden has further cemented Copenhagen's strength in the region. Greater Copenhagen is home to 29% of companies registered in Denmark; these companies account for 45% of total domestic sales and 48% of national exports. The city also attracts 60% of all direct foreign investment in Denmark; 80% of which is in the service sector.

Denmark's strong economy is characterised by a balanced state budget, low interest rates, low inflation and a stable currency. The generous state welfare system results in high taxes but also provides an excellent climate for education and research. The 980,000-strong workforce in the Greater Copenhagen region tend to be well educated, computer literate and multi-lingual. The Danes are consistently voted the best workforce in Europe by the IMD/World Economic Forum.

Copenhagen's business strengths lie particularly in energy, design, information technology, biotechnological and medical research, telecommunications and environmental technology. A recent medico-health sector development is the cross-border initiative with Skane Regional Federation Council to promote foreign investment in pharmaceutical, biotechnology and medical technical industries. The project is centred on the so-called Medicon Valley, which brings together a high concentration of academic institutions, industry and investment organisations. International companies based here include Pharmacia & Upjohn, Astra Draco and Gambro.

Denmark leads the world in terms of environmental awareness, with a high proportion of GDP devoted to environmental protection. The first European ministry of the environment was established here in 1975, and the EU Environment Agency is still here today.

The Union of International Associations lists Copenhagen as the eighth most popular congress venue in the world. Prime office space in central Copenhagen costs up to Dkk1700 per sq metre; the average price is Dkk1100.

Business Etiquette: Punctuality for appointments is essential. The dress code is relatively formal: a tie for men and suits for both men and women. Business contacts should shake hands on arrival and departure, and business cards exchanged after introduction. Most Danes, particularly those in the international business community, speak excellent English and often speak German and French too.



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