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11/1 Jurists want to stay in Oudemanhuispoort

8/2 Mayor’s portrait

8/2 Websites for social cohesion

7/2 Spreading tourism proceeds with difficulty

7/2 GroenLinks on districts: Be a man

6/2 Zuideramstel opens new office on Sabbath

5/2 The truth about integration

4/2 Wilders has little support on Amsterdam

3/2 Elite involved in neighbourhood

2/2 Johnnie Walker avoids taxes in Amsterdam

1/2 Rotterdam to tinker with district councils as well

31/1 Wooden rowing boats to disappear from Amstel

31/1 ZeeburgTV launched

27/1 Privacy activists to mess up loyalty card system

27/1 A few were still coughing, but that was an act

27/1 Chrisis in de Baarsjes

26/1 Youth have positive view of districts

24/1 Action groups call for Carmel and Jaffa boycott

24/1 PvdA members dismiss plan for districts

23/1 KLM takes on crisis with new uniform

23/1 District office not squatted

21/1 Merge districts

20/1 Closing squat bar Vrankrijk not necessary

20/1 Cleaners welcome new Schiphol director

18/1 Palestine at the Jewish Historical Museum

18/1 What is the right size for a district?

17/1 PvdA Oost against fewer districts

16/1 Committee: 7 districts by 2010

15/1 Soldiers may attend Afghanistan debate after all

15/1 Bait bike leads to arrest

14/1 Youth for Christ to republish vacancies

13/1 Paintings of the Zuidas

13/1 New Youth for Christ contoversy

11/1 Social cohesion initiative raises eyebrows

10/1 Fewer districts in 2010

10/1 Zuidas: People feel that we are losers

9/1 Fun on the ice - but not for all

9/1 Supermarket coupon fraud thwarted

9/1 I Amsterdam must remain exclusive

8/1 Use term Apartheid in every discussion

8/1 No city kiosk in Amsterdam yet

7/1 Snow

7/1 Fatima Elatik to run Zeeburg

7/1 Municipal managers to return to shop floor

4/1 Police: take photo of strange people

3/1 Gaza protest criticises politicians

1/1 Thousands to protest against attacks on Gaza

1/1 Mustapha Laboui leaves district council

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Douglas van den Berghe: Crisis may benefit Amsterdam

24 October 2008 - Thanks to the adequate response of the Ministry of Finance and the Dutch central bank (DNB), the Netherlands is presenting itself as a safe haven for international banks, with a reliable government. For banks, this might be a reason to locate in Amsterdam, Douglas van den Berghe of Investment Consulting Associates (ICA) says.

Part five in a series on Amsterdam and the Crisis

Last year, ICA conducted a study on 'Amsterdam in a globalising world', commissioned by the municipality. In its report, the agency warns that in terms of foreign investments, the city depends heavily on America, making it vulnerable for economic shocks such as the credit crunch.

However, Van den Berghe says that the impact of the crisis should not be exaggerated. "Some media suggested that the entire world economy was about to collapse. And if we are to believe the day to day developments at the stock exchange, we're on an 'economic rollercoaster'. However, even though a few more banks may collapse and the real economy may be going through a difficult time, causing one or two lean years, the Dutch economy is in good shape".

The impact on Amsterdam will remain limited, because the city is far less dependent on the financial sector than cities like London. "There will be jobs at stake in the financial sector, but those people will find a job with another bank or a renowned consulting agency".

Van den Berghe praises the 'swift and adequate' way in which the Ministry of Finance and DNB dealt with the problems at Fortis, ABN Amro and ING. "There will surely be a spin-off. We have shown that we have a reliable system here, which supports us in difficult times. For financial institutions, this may be a reason to locate here".

Van den Berghe agrees with the economic policy of Alderman Lodewijk Asscher, who wants the city to focus on financial niche markets such as the management of pension funds and who asks the national government for tax breaks.

Another sector offering opportunities for Amsterdam is ICT, Van den Berghe says. There are numerous small, often foreign businesses operating in IT, telecommunications and media, which successfully service a global market from Amsterdam. Amsterdam could be seen as the 'global IT hub'.

Van den Berghe is critical regarding the way in which the Zuidas business district is being developed. "Although office space is available in Amsterdam, it often doesn't meet demand. If you want to attract businesses like Google, you'll have to have trend-setting architecture with attention to internal and external design. For many international corporations, the architecture in Dubai is an example. In the Netherlands, we tend to find this gaudy".

Another problem the city should deal with is its slow decision-making. "An entrepreneur told me that it's worse here than in Eastern Europe twenty years ago. Decision-making is sluggish and extremely bureaucratic".

Photo: Mooste

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