Sweden has launched a new investment and trade promotion agency, Business Sweden, to replace two previous organizations that helped Swedish companies expand abroad and attract foreign investment to Sweden.
“The new brand is the beginning of a common journey in the interest of Sweden. The aim is to make us an even more attractive, innovative and competitive partner to do business with, both at home and abroad,” Business Sweden CEO Ulf Berg said in a statement.
Previously, Swedish companies looking for help setting up in foreign markets turned to the Swedish Trade Council, (Exportrådet), an agency co-owned by the Swedish Ministry of Foreign Affairs and the Swedish Foreign Trade Association (Sveriges Allmänna Utrikeshandelsförening).
A separate organization, Invest Sweden, was charged with enticing foreign companies to invest and set up operations in Sweden.
However, the government decided last year to shutter Invest Sweden after it was accused of inflating figures about how many jobs its activities had created in Sweden.
Invest Sweden's operations were then taken over by the Swedish Trade Council, which was to be launched as a new agency at the start of 2013.
Read more: Sweden launches new trade promotion agency - The Local
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