Swedish industry, as well as the economy as a whole, has undergone a rapid restructuring during the past decade. One aspect of the rapid structural changes in industry is the fast growing information technology (IT) sector and the impressive investments in IT, computers, use of the internet, said Henrik Bystrom, representative of the Esportradet Taipei Swedish Trade Council.
Few countries can also match the international success that Sweden and Swedish companies have attained in the global economy. There are several world-renowned Swedish companies that have expanded from a Swedish base to become global players that signifies industrial tradition, know-how and an infrastructure that has been adapted to the needs of international business operations.
Having already boasted the highest per capita density of fixed telephone lines and workplace computers during the 1980s, today Sweden is among the world's leading IT nations in terms of per capita computers, PCs, mobile (cellular) telephones, fixed phone lines and Internet access.
Sweden is today the most wired nation on earth. Almost 70 percent of Swedish households have an advanced PC and more than 50 percent of all Swedes aged 12 to 79 use the Internet. Moreover, at least every second Swede now has a mobile phone.
R&D
Sweden is among the countries that spend the most on R&D. R&D investments in industry increased by nearly 10 percent annually during the 1990s. About half of industrial R&D spending occurs in 10 to 15 companies. The increase in knowledge intensity is also reflected in Sweden's role as a leading IT country, especially in terms of practical IT applications in households and companies. Statistics indicated that Sweden's per capita information and communications technology (ICT) investments (measured as expenditures) are the highest in the world, equivalent to nearly 10 percent of GDP.
Biotech development
The Swedish science base is strong in many biotechnology fields and of good quality, due to large investments in biotechnology research over the past 30 years. This has been especially important in ensuring the supply of highly qualified personnel to biotechnology companies.
In proportion to population, the volume of Swedish biotechnology publications was the largest in the world in neuroscience and immunology during the period 1984-1998. Swedish publication volume was second to Switzerland in molecular biology and genetics, microbiology, biochemistry and biophysics and cell and developmental biology, and third after Switzerland and Denmark in biotechnology and applied microbiology.
The Swedish pharmaceutical industry has grown rapidly during the past two decades, thereby establishing itself as one of Sweden's two most important growth industries.
During 2001, the industry employed over 18,000 people. More than 90 percent of its sales were exported, for a total of nearly SEK 34 billion or 4.5 percent of Sweden's overall exports. This gave Sweden a positive trade balance in pharmaceuticals amounting to SEK 24 billion.
Market opportunities
Sweden offers a wealth of market opportunities for foreign companies. It is part of three distinct market areas: Scandinavia, The Baltic Sea Region and the EU, with some 25,100 and 370 million consumers respectively, including the emerging economies of eastern Europe, the total European market comprises almost 700 million potential consumers. Establishing in Sweden provides access to EU's Single Market.
Executives in Sweden particularly appreciate the low corporate taxation, the strong industrial tradition, the competence of the workforce as well as Sweden's advanced infrastructure, not least in the areas of information and communications technology.
Bystrom remarked, "There is a good match in both the industries of Sweden and Taiwan as they complement each other and can enter into joint cooperation especially in areas like telecommunications and manufacturing. Swedish companies can use Taiwan and connect to China and other Asian markets while Taiwan can use Sweden as an ideal base location to penetrate the northern European market." There are currently approximately 15 Taiwanese high-tech companies who have investments in the country. Swedish companies established in Taiwan number about 40.
Foreign companies in Sweden can enjoy a sophisticated and extensive logistics infrastructure, covering all modes of transport as well as information and flow-of-funds. Long-term investments in roads, railways, harbors and airports have created rapid and reliable links to all important parts of the region. And further developments are underway.
Swedes are very fast to adopt latest products and trends from around the globe. International corporations in a broad range of industries have realized the advantages of using Sweden to try out new products, services, strategies and techniques before launching them on a global scale.
Service sector
The Swedish service sector has expanded very rapidly in recent decades. Having accounted for just over 40 percent of jobs in the late 1940s, today its share has climbed to above 70 percent. Altogether, more than 3.1 million people work in services, including 1.3 million public sector employees and nearly 1.8 million in private companies. Adding in all those who provide services as part of the manufacturing and construction sectors, service employees account for some 85 percent of total employment in Sweden, or 3.6 million people.
Sweden's service sector is very heterogenous. It encompasses all types of activities from self-employed hot dog vendors to major banks and hospitals. One way of categorizing the various activities in the service sector is to distinguish between those in "ordinary markets subject to competition - that is, the private sector -- and those pursued and or financed by government bodies -- the public sector (mainly health care, education and social services).
Infrastructure
After a long slump that lasted almost throughout the 1990s, the Swedish construction industry has recovered. Construction remains a key economic sector, today employing about 230,000 people, including other sectors dependent on the construction industry -- portions of the transportation, building materials, and consulting sectors, for example -- it directly or indirectly supports nearly 500,000 jobs, or roughly 10 percent of Sweden's labor force.
Today, Swedish construction is well developed and, in international terms, highly industrialized. To a large extend, the industry uses prefabricated construction elements. Project management skills are advanced. The construction work force, both blue- and white-collar, is generally well educated and highly trained. Environmental aspects are increasingly factored into the planning and construction process.
In recent decades, the major construction companies have been involved in all types of projects: commercial and residential buildings, industrial facilities, roads, rail systems, bridges, harbors, power-generators facilities and so on.
Ttavel
For travelers, Sweden's magnificent countryside is always there for people looking for excitement or relaxation. Summer and winter, spring and autumn. Whatever the season, you can always enjoy its rich variety. Explore Sweden's natural heritage -- the endless forests, the mountains of the north and the island worlds of the archipelagos.
The Swedish Trade Council issued over 11,000 visas in 2001. The figure is expected to increase as more tourists and businessmen from Taiwan travel to Sweden.
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