In order to attract investments, create new jobs and to prevent companies to move abroad, Sweden lowered its corporate tax from 26.3 % to 22 % in the beginning of 2013. Top investment opportunities can be seen in new technologies such as healthcare and life science, cleantech, ICT, automation as well as retail and service sector.
Healthcare and life science
Sweden is one of the global leaders in life sciences and the country especially excels in R&D and drug discovery, as the per capita spending towards healthcare and life science R&D is among the highest in Europe. Life science clusters are built around universities and hospitals with different specialities such as cancer, diabetes, immunology and neuroscience research. This collaboration has provided a host of large and SME companies developing medical devices, diagnostics tools, drugs for infections and metabolic diseases, as well as stem cell therapies and bio production.
As many other countries, Sweden is also concentrating to improve its energy self-sufficiency with renewable energy production. There are a variety of projects going on with wind and solar power, such as large wind farms and 2nd and 3rd generation solar cell development. Sweden is one of the world leaders in bioenergy and technology, because of its long tradition with forestry. Swedish paper and pulp companies and automotive companies are among the forefront developing composites, materials and biofuels from forestry residues and cellulose.
Sweden ranks among the highest in performance indexes measuring the use of ICT. The field is known for telecommunications solutions, wireless technologies, embedded electronics, software and web development as well as e-commerce and e-health. Sweden has highly trained engineers in the field with already decades of experience. A lot of new companies have been formed during recent years that develop games, music and mobile applications.
Sweden has a major automation industry and opportunities in this industry can be found in health robotics, logistics and automation for energy production, distribution and smart networks. The main automation cluster is located in the Stockholm region and it hosts over 500 companies with an annual turnover of 3 billion euros. Another cluster is located in the Göteborg region.
Retail and Services
The Swedish service sector accounts already for 80 % of total employment. The Swedish retail sector has recorded growth for 16 consecutive years fueled by population growth through immigration and rising disposable income. There are over 150 international retail chains in Sweden and during recent years there have been expansions and investments to retail real estates and shopping centers.