After two days in Boston, the Luxembourg delegation spent its third day of a working visit in the US in New York. The day included a conference organised by the Luxembourg Private Equity Association (LPEA) and the presentation of the Luxembourg-American Business Award 2022.
Luxembourg as centre for investment funds
Minister of the economy, Franz Fayot gave the opening speech at a conference organised by the Luxembourg Private Equity Association (LPEA), which aimed to promote Luxembourg as a leading financial centre for investment funds, on the one hand, and to highlight the numerous opportunities for companies to raise capital in Luxembourg on the other. In an interview with Delano, Nicolas Fermaud, LACC executive committee member and secretary, said: “The LACC’s original focus was to help US companies set up or direct them when they go to Luxembourg.”
DuPont wins Business Award
The day ended with the delegation attending the 10th Luxembourg-American Business Award ceremony at a gala evening in New York, organised by the Luxembourg-American Chamber of commerce and the Luxembourg trade & investment office in New York. The award is given every two years to American companies established in the grand duchy for their important role and lasting contribution to the Luxembourg economy.
DuPont’s strategy is perfectly in line with our vision for the future of Luxembourg’s economy and society.
The 2022 award was given to the DuPont group, which has been present in Luxembourg since 1962 and which recently invested in its site in Contern to extend its production line for Tyvek, a material with insulating properties used in protective clothing for health care workers developed by DuPont.
At the award ceremony, Crown Prince Guillaume said: “20 years after receiving this award for the first time, DuPont continues its long-standing commitment to the Grand Duchy, excellence and innovation”. Fayot added: “DuPont’s strategy is perfectly in line with our vision for the future of Luxembourg’s economy and society: it is focused on sustainable development and includes efforts in the field of circular economy and reduction of greenhouse gas emissions.”
Previous winners of the award include Amazon, Goodyear Rubber & Tire Company, Guardian Industries, Avery Dennison Corporation, Husky Injection Molding Systems, Delphi Corp, Airtech Advanced Materials Group and Ampacet Corporation.
An honorary distinction
Before the gala, the delegation went to Luxembourg House, the offices of the Luxembourg Trade and Investment Office in New York, where Michel Franck, President of the Luxembourg American Chamber of Commerce (LACC), and Toni Dudsak, Executive Director of the LACC were presented with an honorary distinction by the Hereditary Grand Duke and the minister for the economy for their long-standing dedication to promoting the grand duchy in the US and strengthening the ties between the two countries.