The Belgium Financial Forum of the National Bank of Belgium (NBB) and the European Investment Bank (EIB) jointly hosted a webinar entitled “Investment for a sustainable recovery in Belgium” on Friday 30 April 2020. It was a timely opportunity for 700 representatives from all sectors and from the financial community to debate the short and long-term economic challenges facing Belgian businesses.
It was steered by the EIB Investment Survey for Belgium (EIBIS), which pointed out strengths, weaknesses and the challenges that Belgium firms are facing on the crucial path out of the pandemic. Entrepreneurs, financiers and experts shared views during a panel discussion on investment dynamics and investment needs in Belgium.
The pandemic has severely impacted investment activity in Belgium. Firms have to cope with substantial revenue losses that have affected their investment strategies. Assessing business needs and setting priorities is crucial for a rapid and solid recovery.
Kicking off the session together with Pierre Wunsch, BNB Governor, EIB Vice-President Kris Peeters said: “Although recent news on the health front brings us hope, and we know that a rapid economic recovery is possible due to the nature of this crisis, uncertainty remains very high. As the EIBIS shows, uncertainty about the future is more often cited in Belgium than across the EU as the most important barrier to investment activity, which shows signs of recovery but still remains below pre-crisis levels. I must emphasise: the EIB stands ready as a trusted partner to support Belgian companies and authorities in these challenging times, helping them to implement their programmes and investment projects.”
This country overview was based on interviews with 480 firms in Belgium that took place between April and July 2020. The survey is part of the annual EIB Group Survey on Investment and Investment Finance (EIBIS), an EU-wide survey of 13 500 firms that gathers quantitative information on investment activities by both small and medium-sized enterprises (SMEs) and larger corporates, their financing requirements and the difficulties they face.
As the EIB Investment Survey gathers unique insights on the corporate investment landscape in the European Union, ECOPNET (European Cooperation & Partnership Network) believes it is an essential which outlines the companies' needs for finance and the constraints that prevent them from making investments. We invite our partners to review this survey that shows the effects of the COVID-19 crisis on companies’ investment plans and highlights how European firms are investing in digital technology.
Together with the EIB Investment Report, the EIBIS provides an overview of the cyclical and structural dynamics behind investment and investment financing in Europe, thereby facilitating an in-depth understanding of the investment situation in each EU economy, namely in Belgium for this occasion.
Source: European Investment Bank Media Centre