The Freeport has been a topic of conversation in recent weeks following the resignation of Robert Goebbels from the board.
Laurent Mosar said the Freeport did not have the best reputation and felt it was important to ascertain how it would progress going forward.
In 2018, the Freeport’s financial situation worsened, reporting a loss of 1.6 million euros to further increase its 6 million euro debt, which has persisted since the secure storage centre opened. Mosar pointed out the Freeport had yet to report a profit, which cast doubt over its future.
In response to the question of whether the government would take over operations at the Freeport, Minister of Finance Pierre Gramegna was very clear over the fact the Freeport would remain a private business. He did not agree that Luxembourg should suffer the repercussions of any potential bankruptcy.
Gramegna also advised the Freeport needed to observe anti-money-laundering laws. The future would depend on the internal workings of the business, but the minister did not foresee any risk to the country’s reputation.
