Swiss firms hold out hopes in US infrastructure upgrade
The $2 trillion (CHF1.89 trillion) infrastructure investment programme unveiled by Biden on Wednesday is intended to help improve the ailing national power grid, water systems, schools, bridges and road networks.
Copyright 2021 The Associated Press. All Rights Reserved
US President Joe Biden’s major infrastructure plan is raising high hopes for Swiss firms in the construction and building industry. Although first contracts are expected to go to local firms, experts believe Swiss firms could score opportunities thanks to their specialisation and presence in the US market.
This content was published on
2 minutes
Keystone-SDA/jdp
The $2 trillion (CHF1.89 trillion) infrastructure investment programme unveiled by Biden on Wednesday is intended to help improve the ailing national power grid, water systems, schools, bridges and road networks.
According to John Plassard from Mirabaud Bank in Geneva, US firms are expected to be the first in line to win contracts. However, Plassard told the Swiss News Agency Keystone-SDA that Swiss companies were well-placed to be included as subcontractors.
The business umbrella organisation Economiesuisse is also optimistic. “The project not only increases demand for Swiss goods but also has an indirect impact,” said Jan Atteslander, head of foreign trade at Economiesuisse. Updating domestic infrastructure makes the US more competitive, which is also good for Swiss firms with a presence in the US, he added.
Niche expertise
Three-quarters of the financial analysts surveyed expect the Swiss economy to benefit from the US investment programme, according to a survey by Credit Suisse and the CFA Society Switzerland.
Björn Rosengren, CEO of Swiss-Swedish industrial giant ABB, is also positive about the planned investments. The modernisation of US infrastructure offers enormous potential for ABB, Rosengren told Keystone-SDA. The group already generates almost a quarter of its sales in the US.
Building materials giant LafargeHolcim, which also has a strong presence in North America, also sees positive growth prospects along with Swiss train manufacturer Stadler Rail and electricity meter specialist Landis+Gyr.
But Atteslander at Economiesuisse believes that not only large companies but also small and medium-sized firms could get a piece of the pie thanks to their expertise in niche areas.
Popular Stories
More
Swiss oddities
Mennonite movement turns 500 in Zurich, where it all began
Train vs plane: would you take a direct train between London and Geneva?
Eurostar is planning to run direct trains from Britain to Germany and Switzerland from the early 2030s. Would you favour the train over the plane? If not, why not?
This content was published on
The Fête de l'Epouvantail (scarecrow festival) is celebrating its 30th anniversary and returns to Denens in canton Vaud for its seventh edition from July 10-20.
This content was published on
A 35-year-old man has died in a work accident at the valley station of the Heimwehfluh toboggan run in Matten near Interlaken, canton Bern.
This content was published on
The Swiss embassy in Tehran re-opened on Sunday after being closed on June 20 owing to the unstable situation in the country.
This content was published on
Queen Maxima of the Netherlands and her youngest daughter Princess Ariane attended the Netherlands' women's European Championship football match against Wales in Switzerland on Saturday.
Swiss want to better protect military airfields from spying
This content was published on
Swiss Defence Minister Martin Pfister says he wants to better protect Swiss military airfields against espionage activities.
Man charged with flying drone at women’s Euro 2025
This content was published on
A man flew a drone around the venue on Wednesday evening during the first match of the Women's EURO 2025 in St. Gallen. The 30-year-old violated the absolute ban on flying during match days. He was reported to the police.
More than 250 Swiss companies sign CO2 reduction initiative
This content was published on
A total of 257 companies from Switzerland have signed up to the Science Based Targets Initiative (SBTi). In doing so, they are committing to CO2 reduction targets that are compatible with the Paris Climate Agreement.
Swiss accident prevention group sees federal targets at risk
This content was published on
The Swiss government's target for accident figures is at risk, reckons Mario Cavegn, member of the executive board of the Swiss Council for Accident Prevention.
Feminicide: Swiss justice minister calls for electronic monitoring
This content was published on
Swiss Justice Minister Beat Jans has called for electronic monitoring and an ankle bracelet warning system for perpetrators of violence against women.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss media on Biden win: ‘A signal far beyond American borders’
This content was published on
Swiss media and politicians react to Joe Biden’s win, saying he’s the right person to rebuild the country’s reputation abroad.
This content was published on
The pandemic has shaken up the Swiss economy, but affected sectors differently. What future for Switzerland as a business and research location?
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.