Minister Gramegna promotes Luxembourg in New York
On his way to the Spring Conference of the International Monetary Fund and the World Bank in Washington, Minister of Finance Pierre Gramegna made a stopover in New York on April 9 and 10 to meet professionals from the financial industry and present the latest developments about the Luxembourg financial centre.
Together with the Consul General and Executive Director of the LTIO in New York, Jean-Claude Knebeler, and the CEO of LFF, Nicolas Mackel, the Minister visited several financial institutions and experts from Wall Street. The delegation presented the Luxembourg toolbox with a range of exclusive investment vehicles that are unique and do not exist on the US market.
During a meeting with around 50 high-ranking guests from the alternative investment sector (private equity, real estate, hedge funds & venture capital), the Minister pointed out Luxembourg’s favorable climate and highlighted the latest legislative measures encouraging the set-up of value-added activities of companies being active in the alternative investment sector in Luxembourg.
“There are important opportunities for American investors in Europe, since our continent emerged from the crisis with competitive price levels. The current situation doesn’t yet represent the true underlying force of what is called the “Old Continent” in the US. We are well positioned to attract more alternative investment funds given Luxembourg’s know-how, innovation in regulation and our global orientation”, the Minister stated.
Minister Gramegna also elaborated on the increasing role of the Grand Duchy in the internationalisation of the renminbi. Luxembourg can serve as a platform for the US, Europe and Asia. The Grand Duchy has a leading position in wealth management, listing of bonds, investment funds and structuring of multinationals. These activities make Luxembourg the destination of choice for companies active on the Chinese market seeking funding in renminbi, as well as for international investors wishing to benefit from the growth of the Chinese economy through funds or bonds denominated in renminbi.