Why this is important to Wisconsin businesses: Wisconsin companies in the defense sector could find opportunities for their products and services.
The Netherlands is boosting its defense budget and plans to revitalize its military readiness.
The government released a new security strategy in March 2023. “We are fortunate to live in one of the safest countries in the world. At the same time, we are faced with a growing number of threats that are more complex and interconnected, and we cannot afford to be naive about this. We are dealing with a many-faced monster,” Prime Minister Mark Rutte said in the 47-page report.
Rutte cited Russia’s invasion of Ukraine as “the ultimate game changer,” but he also cited rising cyberattacks, organized crime, and climate change.
The Netherlands spent 1.58% of its gross domestic product (GDP) on the military in 2022—the highest in a decade. A NATO agreement obligates its members to commit at least 2% of their GDP to defense spending.
Much of the Netherlands’ new plan is also contained in a 2022 report on defense, which laid out the government’s intent to invest an additional €14.8 billion ($15.2 billion USD) between 2022 and 2025. The allocation will prepare the country’s military for the future, working with NATO and the European Union, the report says.
The security strategy involves investing in international partnerships in areas such as fossil fuels, energy, medical products, semiconductors, and space technology.
Wisconsin companies in the defense field could find opportunities to participate in the Netherlands’ defense ramp-up. One way to learn more about the possibilities is to attend the Netherlands Industries for Defense and Security conference, held in November.
