Changes to tonnage tax system will help flag compete
THE World Bank’s annual ‘doing business’ study, released last week, ranked Denmark’s new maritime arch-rival Singapore as the world’s best place for overall commercial activity, writes Jerry Frank. Denmark came in at number five, just ahead of the UK and behind Hong Kong, the United States and, in second place, New Zealand.However, Mr Bendtsen is bullish that further legislation in June, including changes to the tonnage tax system, will make Denmark even more competitive as a place to do business.These moves follow his government’s unveiling in June 2006 of its Danish Maritime Cluster — an Agenda for Growth, which has defined an ambitious set of targets to become Europe’s leading centre for ship operations by 2015.“Further growth will not come automatically. Globalisation and international competition are placing greater demands on international shipping companies and other maritime enterprises. “My view is that i
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