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| Liechtenstein Strengthens Financial Centre Strategy |
by Ulrika Lomas, Tax-News.com, Brussels
Friday, July 15, 2011
Determined to improve the attractiveness and stability of the Liechtenstein financial
centre, the Principality’s government announced recently that Christoph
Weder has now joined the new office responsible for international financial centre
agendas (SIFA).
Underlining the fact that the Liechtenstein financial centre is one of the
central pillars of the country’s economy, the Liechtenstein government
said that it fully supports any necessary reorganization
and adjustments, associated with a changed international environment, with specific
framework conditions. As part of its plans to coordinate the implementation
and further development of the government’s financial centre strategy,
it elected to appoint an expert with both national and international experience,
it explains.
Commenting on the latest announcement, Liechtenstein’s Prime Minister
and Finance Minister Klaus Tshütscher stated that the decision was intended
to strengthen the structure designed to support the vital and ongoing development
process. The move will also serve to further strengthen the attractiveness and
stability of the Principality’s financial centre, he continued, noting
that Weder provides a key additional point of contact for Liechtenstein’s
financial centre participants.
The government stresses that the decision reflects efforts to more intensively
coordinate both the development and the reorganization of the Liechtenstein
financial centre, which began with the Liechtenstein Declaration. Working alongside
the Head of the new unit, Katja Gey, Weder’s role involves supporting
the development of new business for the financial centre, preparing government
decision documents to transform and to reorganize the financial centre, as well
as coordinating responsibilities in the area of financial market regulation.
Welcoming the appointment, SIFA Head Katje Gey emphasized that measures introduced
by the government in the last few years and months have steered the country
on the right path. International developments in financial and tax matters continue
to pose challenges to the Liechtenstein financial centre, however, which must
be overcome working together with industry, she added.
Liechtenstein’s SIFA office became established and operational at the
beginning of February, 2011, replacing the Futuro office (SFU), whose responsibility
was to implement the vision for Liechtenstein as an economic location,
observe trends and developments in international economic locations and to propose
new initiatives for Liechtenstein accordingly, forming part of the ongoing ‘Futuro
Strategy’.
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