Department of Economic Affairs Caroline 11 CH-1014 Laussane tel:

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2 OTV / Château de Chillon OTV / Glacier 3000, Les Diablerets Department of Economic Affairs Caroline 11 CH-1014 Laussane tel: info@vaud.ch

3 The Canton of Vaud A PEARL IN THE HEART OF EUROPE... OTV / Lausanne PETER BRABECK-LETMATHE Chairman, Nestlé SA, Vevey «The canton of Vaud has excellent infrastructure in a wonderful setting in the centre of Europe, plus people who are both open and hard-working.»... Located in the heart of Europe, between lake and mountains, the canton of Vaud is the largest French-speaking region of Switzerland. The region benefits from Switzerland s privileged position as one of the most prosperous nations on earth, with one of the highest quality of life worldwide. Located in the heart of Europe, between lake and mountains, the canton of Vaud is the largest French-speaking region of Switzerland. The region benefits from Switzerland s privileged position as one of the most prosperous nations on earth, with one of the highest quality of life worldwide. The canton of Vaud is a major crossroads for the main road and rail routes in Switzerland: the Geneva-Basel axis (North-South) and the Geneva-Berne-Zurich axis (East-West) both pass through Lausanne, the capital of Vaud. Thus, Lausanne acts as the hub for connections between French-speaking Switzerland and Berne, the country s political capital, and Zurich, the country s business capital. Geneva and its international airport are just forty minutes from Lausanne (65 km). This puts Vaud s towns and cities within easy access of the major European destinations: Paris, Milan, London, Frankfurt, Barcelona, Rome, Amsterdam and Brussels are just an hour away by air. The canton of Vaud exemplifies all the qualities most readily associated with Switzerland: innovation, dynamism in terms of economic development and investment, the highest productivity in the world, top-quality education, political stability and above all an incredible quality of life! Morever the canton of Vaud has a multitude of specific assets which make it an ideal environment and base for your activities in Europe: FRANCE state-of-the-art infrastructures, an international airport nearby, a stable political structure, an attractive tax regime, a highly qualified and cosmopolitan workforce, research and cutting edge skills in modern technologies, a network of prestigious schools and universities, highly efficient financial services, a rich and diversified economic fabric, with the presence of numerous multinationals and international organisations. All this in a region that has a manageable size. The largest and most populated canton in French-speaking Switzerland (4th swiss canton) km2 (7.8% of the Swiss area) More than inhabitants and nearly in employment Nyon Geneva Yverdon Lausanne Montreux Basel Berne Avenches Greater Lausanne Eastern Vaud and the Riviera The Vaud Jura La Broye Western Vaud

4 Education THE JOY OF LEARNING... IMD, Lausanne RUUD REULAND Director, Lausanne Hotel School (the first hotel school in the world and among the top three establishments providing international hotel trade courses) «This canton has matchless pedagogical capabilities. It truly is a region of education with several schools of international renown».... No matter whether you want to study or work with research that are among the best in the world, you will find in the canton of Vaud one of the strongest concentrations of academic excellence in Europe. No matter whether you are an employer looking for trained staff, a professional wanting to complete your education, a company seeking to collaborate in top-drawer university research, or even an expatriate looking to put your children through school, you will find schools and universities with a global standing and reputation in the canton of Vaud. Some examples? The International Institute for Management Development (IMD), a business school on a par with Harvard and INSEAD (Paris), whose MBA programmes are regularly ranked among the best in the world by the media (Business Week, The Financial Times, The Wall Street Journal). The Swiss Federal Institute of Technology in Lausanne (EPFL), whose excellence in the fields of science and engineering helped to bring victory to the yachtsmen of Team Alinghi in the 2003 and 2007 America s Cup. The Vaud School of Business and Engineering (HEIG-Vd), which has 1,500 students in nine bachelor programmes: business administration, microengineering, system engineering, electrical engineering, computer science, telecommunications, geomatics, media engineering, and engineering and management. The University of Art and Design in Lausanne (ECAL), recently named by U.S. magazine BusinessWeek one of the best schools of applied art and design in the world. The Lausanne Hotel School (EHL), the premier and most prestigious educational establishment in the hotel trade and receptionist professions. The World s School In Switzerland, and in the Lake Geneva region in particular, private schools enjoy a long tradition and a reputation for excellence. The canton of Vaud has almost 50 private schools welcoming children and students either as boarders or day pupils. These schools often have an international flavour, enabling students to follow curriculums from different countries (Switzerland, France, Italy, Germany, the UK, the United States) in the appropriate language. The programmes range from infant school and top level education to vocational training, languages, evening classes and summer schools, and continuing education. The diplomas that are awarded are recognised everywhere students and researchers : the biggest campus in Switzerland, comprising the University of Lausanne and the Swiss Federal Institute of Technology in Lausanne 4 academic universities and 11 universities of applied sciences More than 200 vocational training establishments Free and state-run children s schooling of extremely high quality by international standards 48 private schools, among which some with a worldwide reputation (Lake Geneva Region Swiss Private Schools,

5 Technology INNOVATION IS A STATE OF MIND... EPFL, Alain Herzog / EPFL, Lausanne BERTRAND PICCARD Swiss aviator (co-pilot with Briton Brian Jones on the first non-stop flight around the world by hot-air balloon in 1999, today involved in the Solar Impulse technological challenge. This project to fly around the world in a solar aircraft is being developed in conjunction with the Swiss Federal Institute of Technology, Lausanne) «The proximity of the Swiss Federal Institute of Technology, Lausanne was the key factor that convinced us to launch the Solar Impulse technological challenge.»... The canton of Vaud is one of the main centers of research and innovation in Switzerland, with the biggest university campus in the country and several public and private research institutions with an excellent international reputation : Swiss Federal Institute of Technology of Lausanne (EPFL), University of Lausanne (UNIL), Lausanne University Hospital (CHUV), Nestec (Nestlé Research Center). Concentrated Expertise For more than ten years, the canton of Vaud has actively pursued a policy of developing its core scientific and technical competencies, which are: life sciences (biotechnology and medical technologies) ; micro/nanotechnologies ; information and communication technologies ; energy and environmental technologies ; agribusiness technologies. These clusters bring together know-how, specialist workers and top-drawer infrastructure at a European level, and enjoy strong political backing for their development. The close proximity of these competence clusters creates numerous synergies (between life sciences and microtechnology or computer science, for example), reinforcing the capabilities that each sector needs. The canton of Vaud is also at the center of supra-regional technical clusters, together with the neighbouring cantons forming global centers of excellence notably in biotechnology ( org) and microtechnology ( From the Lab to the Market Company creation (spin-off or start-up) is also very much encouraged: numerous tools for implementing research have been put in place. Several technology transfer organisations, including Alliance, CeTT and PACTT, operate in this field in conjunction with universities and research institutions in the canton of Vaud. Their goal is to create an exchange between the worlds of research and business. Over companies employing more than people in research, development and marketing of leading edge products and services (more than 15% of the active population) 6 incubators and technology parks, among which the biggest one of Switzerland Numerous public and private research centers Around 900 new companies created every year Switzerland spends 2.9% of its GDP on research and development, one of the highest rates in the world Switzerland is the global co-leader together with Sweden when it comes to patents filed per million inhabitants

6 Business YOUR BUSINESS "SWISS MADE"... Ferring International Center, Saint-Prex FRANCOIS MONORY Senior Manufacturing Director, Medtronic «I would recommend the canton of Vaud without hesitation to any company wanting to start operating in Europe. This region offers all the ingredients you need to set up successfully.»... Swiss Made: a world-famous label that sums up the quality of products created by Swiss enterprises. In 2006, the annual report of the World Economic Forum (Global Competitiveness Report ) named Switzerland the most competitive economy in the world. Indeed, Switzerland and the canton of Vaud enjoy an economic environment that combines stability and dynamism to provide favorable conditions for the development of business. Low Unemployment and Inflation Rates The unemployment rate (2007) in the canton of Vaud averages around 4% (EU: 7.1%). Switzerland has one of the lowest rates of inflation in Europe (0.5%), which ensures tremendous stability in purchasing power and beneficial interest rates. Attractive Tax Regime Taxes in Switzerland and the canton of Vaud are far less onerous and far less bureaucratic than in most Western countries. They are closer to North American levels than European levels. What s more, companies can reduce their tax bills by taking advantage of various incentive schemes. An Economy Opened to the World Vaud s economy is largely open to the world: 20% of its industrial output is exported, mainly to Europe. In this regard, the canton of Vaud benefits from bilateral agreements between Switzerland and the European Union guaranteeing access to European markets and the free movement of people. A Highly Productive Workforce An efficient system of education and vocational training has given the canton of Vaud a workforce that is numerous, well trained and in many cases multilingual (French, English and German). A large proportion of the canton s inhabitants have benefited from higher education. The work ethic and motivation demonstrated by Swiss employees are exceptionally high, and strikes are practically unheard of. Next to Geneva s Financial Place The canton of Vaud borders Geneva, the leading light in wealth management. While Switzerland manages 30% of global offshore wealth for private clients, Geneva is the home and hub for the management of this international capital. This major financial center is right on Vaud s doorstep. Unemployment Rate (2007) : 4% Inflation Rate : about 0.5%, one of the lowest rates in Europe VAT Rate : 7.6%, one of the lowest rates in Europe Working hours : 40 to 42 hours per week 225 banking outlets

7 Business KEY SKILLS IN LEADING EDGE INDUSTRIES... OTV / Horlogerie de précision DANIEL BOREL CEO, Logitech, Romanel-sur-Morges «If the canton of Vaud weren t so attractive, we wouldn t be here! This region has the potential to be the next Silicon Valley.»... The canton of Vaud is one of the most important cantons in Switzerland in economic terms and has the leading economy in French-speaking Switzerland. There are companies employing people, of whom almost 75% work in services, in the local economy. Thus, the canton of Vaud boasts what is principally a knowledge-based economy (health care, banking, finance, insurance, advisory services, education and research, consulting, etc). Industrial activity in the canton of Vaud concentrates on leading edge sectors with high added value. The region has become a preferred location for a wide range of industries, including: precision instruments, medical equipment and devices, pharmaceuticals and biotechnology, industrial machinery and equipment, watchmaking, semiconductors, agribusiness, information and communication technologies (ITC), micro/nanotechnologies, technologies related to energy and the environment, Most of the companies can be categorised as small and medium-sized enterprises (SMEs), highly specialised and extremely flexible. The canton also plays host to numerous head offices and branches of local and foreign multinationals. A growing number of international companies are choosing Switzerland and the canton of Vaud as a base for developing their operations in Europe and EMEA Region. Switzerland is by far the most popular choice as a location for European or global headquarters. According to a study carried out by international management consultants Ernst & Young (Swiss Attractiveness Survey 2006), 45% of decision-makers made Switzerland their first choice, way ahead of the UK in second place with 19.4%. The multinationals are attracted by the competitive conditions in the canton of Vaud and the presence of skills in the leading edge industries where they operate. They Chose the Canton of Vaud: TESA Medtronic Rüeger Edwards Lifesciences Beckman Coulter Philip Morris Bobst Logitech Jaeger-LeCoultre Yahoo Audemars Piguet Cisco Systems Marvell Technology Kudelski Merck Serono Innovative Silicon Ferring International Eaton Industries Nestlé Valtronic Technologies General Mills VHF-Technologies Adecco Over companies About jobs, among which 75% in the services The most important economy in Western Switzerland and the third-biggest in Switzerland The most popular choice as a location for European or global headquarters 19 real-estate sites (350 hectares) for the development of new activities

8 Lifestyle LIKE A PICTURE POSTCARD... OTV / Lavaux JEAN-PIERRE LACOMBE Vice President Europe, Eaton Industries Manufacturing, Morges «A good half of our people in Morges came from other facilities in Britain and the Netherlands. Everyone loves this region for the quality of life it offers.»... What is it that makes us like a given place? A pleasant climate, beautiful scenery, a sense of security, and the hospitality of the locals. Unspoilt nature, between lakes, countryside and mountains. Towns and villages of a manageable size, well cared for, tranquil and welcoming. Or the chance to do things that are personally enriching, entertaining and exciting, to discover, to relax, to stimulate the senses with new experiences. The canton of Vaud offers you all this and more, no matter whether you come for just a short stay or to live permanently. Come and discover an exceptional way of life, experienced in magnificent scenery and with a quality of life that is legendary in the rest of the country, Europe and throughout the world. A tranquil and gentle lifestyle that for years now has attracted international celebrities to make their home here. And what about you? You can visit Lausanne, its cathedral, its old town with its bustling squares and narrow streets, its numerous famous museums: the Musée d Art Brut, the Olympic Museum, the Musée de l Elysée (photography), the Fondation de l Hermitage (fine arts). Or take a stroll round the Ouchy waterfront, which has a real seaside feel. Don t miss Montreux, on the sun-drenched Riviera, with its magnificent backdrop of the Alps and the famous Castle of Chillon. Its restaurants, its stores and its casino have plenty to offer you if you like entertainment, good food or shopping. You might want to head off and discover medieval cities or market towns, with their fortresses and citadels in la Broye (Orbe, Payerne), or Roman ruins in Avenches, with its superbly preserved amphitheatre. Or why not besiege the impressive castles of Prangins (Swiss National Museum), Morges, Aigle (Wine Museum), Grandson, Nyon, Yverdon or Oron? You could take an unforgettable trip to the terraced vineyards of Lavaux, a UNESCO World Heritage Site, or the Alpine resorts of Leysin, Les Mosses, Château-d Oex and others overlooking Lake Geneva, where you can visit a cheese dairy or take to the skies in a hot air balloon. The spectacular ice world of the Diablerets glacier will fill you with wonder. 200 historical and archaeological sites Lavaux, member of the list of registered World Heritage assets - UNESCO ( 110 museums, the greatest density of museums in the world More than 60 galleries of art Number of international festivals worldwide known (Montreux Jazz Festival, Athletissima, International Hot-air Balloon Festival in Château-d Oex, etc)

9 Lifestyle A FINE MEAL AND A WARM WELCOME... OTV / Lac de Joux, Le Pont PHILIPPE ROCHAT Head chef at the Restaurant de l Hôtel de Ville in Crissier (named «Best restaurant in the world» by the French Gault-Millau guide in 2000) «I m much better off in Crissier than in Paris. There is a real good-life culture here. I can surprise and delight my guests from throughout the world in an exceptional setting.»... A paradise of food and wine, the canton of Vaud never fails to impress its visitors with the diversity and the quality of its cuisine, and the professionalism of its hotels and tourism offices. The canton of Vaud is seventh heaven for people who like good food. From gourmet restaurants on lakeside terraces to small mountain inns, the choice is huge and the menu varied. The shores of the lake play host to the densest collection of top restaurants in Switzerland as well as numerous bistros and traditional or exotic inns. One Canton, Four Wineyards Regions The canton of Vaud is also one of the main wine-producing regions in Switzerland. The hillsides of Lavaux and La Côte are exceptional wine-producing sites. Labels like Mont-sur-Rolle, Vufflensle-Château, Féchy, Epesses, Dézaley and St-Saphorin are well known to lovers of Chasselas and Pinot noir. The third Vaud vineyard, le Chablais, with its wine-producing towns of Yvorne and Aigle, is located in the Rhône plane, close to the border with Valais. The fourth wine-producing region, with les Côtes de l Orbe, Bonvillars and Vully, is found in the north of the canton. Various Accommodation Options The canton of Vaud has numerous accommodation options available for its guests, ranging from five star palaces through to mountain huts together with everything in-between: guest houses, country lodges and business hotels. No matter whether they have one star or five, are small or large, family-run or international, modern or wonderfully romantic, all the hotels have one thing in common: their warm welcome and their excellent cuisine. Combining Work and Pleasure Why not combine work and pleasure in a region where people love to live, where tourism is a living tradition and where the infrastructure and the service are right out of the top drawer? Vaud s attractions make it an ideal venue for international business conferences and professional seminars. Your conference is served up on a platter in the most stimulating environment imaginable for your business, your education or your meetings. And when it comes time to relax, the lake, the mountains and all the region s charms are just around the corner. Your guests will love it! The canton of Vaud has two conference and exhibition centers: the Palais de Beaulieu in Lausanne and the Montreux Music & Convention Centre (2m2c). Both of these offer a full range of services for organising and planning events of any size in several languages. The higher category hotels are equipped to cater for business needs, with business centers and conference rooms available for their guests use. The densest collection of top restaurants in Switzerland One of the main wine-producing regions in Switzerland Over 400 hotels in all categories - a total capacity of beds 2 conference and exhibition centers

10 Health ONE HEALTH SYSTEM FOR EVERYONE... OTV / Lavey-les-Bains DOMINIQUE CARRUPT Directeur, Clinique la Prairie, Clarens «Our patients come from all over the world for the quality of Swiss medical care. They also benefit from the presence of a genuine cluster of medical competences in the canton of Vaud.»... Health and well-being are the most important assets in life. The canton of Vaud has a long international tradition for offering top quality treatment and care: royalty and important people from throughout the world have been coming here since the end of the 19th century to restore their health or receive medical treatment. State-of-the-Art Medical Facilities and Quality Care The canton of Vaud maintains an extensive health care system. There are a number of public hospitals ensuring high quality medical care throughout the canton of Vaud. The main one is the CHUV (Centre Hospitalier Universitaire Vaudois - Lausanne University Hospital) in Lausanne. The university hospital complex in Lausanne plays a leading role in numerous fields (burns, organ transplants, oncology, cardiovascular diseases, AIDS, ophthalmology, psychiatric neurosciences, etc.). It is involved in research activities and clinical trials of new therapies tested around Switzerland, Europe or the world. The canton of Vaud, and notably the Vaud Riviera, is famous for its private clinics, which attract a clientele from throughout the world. Surrounded by the mountains or right by the lakeside, they provide top quality care in the kind of quiet setting appreciated during a stay in hospital or a period of convalescence. The dozen or so private clinics in the canton of Vaud cover all medical fields, with some of them specialising in cardiovascular diseases, anti-ageing, plastic and reconstructive surgery and reeducation. Most of them are equipped to welcome international patients. The Health-Bringing Waters Want to relax? The canton of Vaud boasts several wellness centers and two magnificent spa complexes: Lavey-les-Bains has been fully renovated as a complete wellness center; and Yverdon-les-Bains, whose hot springs were discovered way back in Roman times and which today hosts a rehabilitation and wellness complex. The Privileges of Age The canton of Vaud provides a serene and majestic backdrop where people can enjoy life to the full in their twilight years. The region s rich heritage of medical, paramedical and hotel services all comes together in top quality rest and care homes for the elderly, offering specialist care through a broad range of services provided in residence, in apartments or in temporary accommodation, supported by professional staff. They are all found in tranquil, undisturbed locations - some in the mountains, others in the countryside and yet more by the lake. A top leading university hospital (Centre Hospitalier Universitaire Vaudois, doctors per inhabitants Numerous private clinics, which enjoy an excellent international reputation ( More than 100 establishments offering specialist care for the elderly Several treatment and wellness centers, which have been popular since Roman times

11 Sport VAUD UPHOLDS THE SPORTING IDEAL... OTV / Siège du CIO, Lausanne JACQUES ROGGE President, International Olympic Committee (IOC), Lausanne «Lausanne simultaneously gives the IOC an exceptional setting, a capacity to accommodate the many meetings we hold and a ready ear for our needs.»... «Faster, higher, stronger»: the motto associated with Pierre de Coubertin, the father of the modern Olympics, lives on in Lausanne, the world Olympic capital since 1915, the year when the International Olympic Committee (IOC) was set up on its banks. Centre of Competence for International Sport In the summer of 2006, Lausanne opened the House of International Sport (MSI), the only center of competence of its kind in the world, grouping together several organisations involved in the administration of international sport under a single roof. Set up as a joint venture between the City of Lausanne, the Canton of Vaud and the International Olympic Committee, the House of International Sport features office space of sq.m. in three buildings, housing twenty or so international sporting federations and organisations and a dozen companies operating in the sports sector. Located on an outstanding site close to the headquarters of the International Olympic Committee, this complex makes it possible for various international sporting federations to tap significant synergies and to share skills and best practice. Lausanne is similarly home to the Olympic Museum, a symbol of the union of sport, art and culture. In addition to its permanent displays, it stages exhibitions, events, shows, seminars, conferences and concerts in a magnificent setting overlooking the lake. Your Turn to Play! The canton of Vaud is more than just the cradle of Olympic and international sport: it s a fabulous sports arena where you can play a huge range of fascinating sports. Aquatic sports on its lakes, open air sports in the countryside or the mountains, indoor sports throughout the year. Not to mention winter sports in the mountains! More than 330 highly diverse sports clubs and associations support a wide range of sporting activities across the whole of the canton. Unlike in other countries, these sporting associations are not linked to the school or university system, so they are open to anyone, no matter what their age or ability level. All of Vaud s towns and cities, but most particularly Lausanne, are actively involved in this boom: events, clubs, facilities everything that s needed to stage sporting events is in place. Lausanne, headquarters of the International Olympic Committee since1915 Single in the world: the House of International Sport ( 24 federations and 20 international sporting organisations (in 2007) More than 330 associations and sports clubs More than 55 different sports practiced Numerous national and international sporting events (Athletissima, Satellite FIVB Beach Volley, Lausanne Marathon, Snowboard World Cup in Leysin, etc)