Jeune Chambre Économique forum aims to attract new businesses
The Sovereign Prince of Monaco is right behind the latest initiative to attract investment into the Principality. ‘Do It In Monaco,’ set to take place from October 27-28, has been instigated by the Jeune Chambre Économique (JCE) and is ambitious in its aims and scope. Over the two days there will be talks and practical workshops at the Rainier III Auditorium. The forum is open to seasoned business professionals and young entrepreneurs alike to participate. It is an opportunity for established bosses and those interested in setting up in the area to meet, share ideas and formulate plans for growth. Presenting the sessions will be government authorities, representatives from Monégasque companies, banks and financial institutions as well as experts and accountants from other sectors. The key objectives are to present new opportunities, answer questions on Monaco, facilitate networking and give advice to people on the viability of their projects and how to achieve their goals. Prince Albert II has long been an advocate of innovation and job creation, often inviting new local and international talent to set up stall in the area. Tellingly, in his inaugural speech in July 2005, he called on young Monégasques to help him.
According to the JCE, the Principality is an attractive proposition. Not only does it come with a good quality of life, a pleasant climate and political stability, it is also a stone’s throw from Nice airport, with most European capitals being within two hours’ flight. It also has low taxation (for businesses), a flexible labor code and well-developed banking and finance systems. The hi-tech pole of Sophia Antipolis is close by, providing access to a highly-skilled workforce.
The Monaco Department of Finance and Economics says there were some 4,600 companies in 2004, employing over 41,000 people and with a combined turnover of 9,815 billion Euro. Most sectors are represented. Trade covers around 40 per cent, banking 15 per cent and real estate/ construction and industry each account for 8 per cent. One or two-day passes are available at 50 or 75 Euro respectively. Businesses wishing to promote their product may hire a stand and five passes for the conference for 1,350 Euro.