Belgium is a politically stable country. The government type of Belgium is parliamentary democracy under a constitutional monarchy. Belgium achieved independence in October 4, 1830. The constitution was drafted in 1830, approved by congress and was enforced in 1831. In 1993, Belgian government consolidated a version of constitution by incorporating all previous versions in 1993. King Albert II is the chief of the state.
Head of the government is the Prime minister. The leader of the majority party or the leader of the majority coalition usually appoint the prime minister by the monarch and the approved by parliament. Bicameral parliament consist senate consisted of 71 seats (40 elected members by popular votes and 31 indirectly selected). There are three levels of the government; they are federal, regional and linguistic community. The government structure is quite complex. Belgian politics is quite stable even though it is not a pure democracy. Many international companies from the United States, the UK, Australia, Germany and France have stable presence in Belgium. Belgium played influential role on forming NATO and European Union. Economic
Belgian economy is modern, open and private enterprise based. Belgian economy consists of central geographic location with the European Union, highly developed transportation network and diversified industrial and commercial base. Belgium does not have any significant natural resources; however, they were able to establish themselves an important player in the world economy. Belgium is the 15th largest economy in terms of trade in 2007. Due to exporting large quantities of manufactured goods, Belgian economy is closely attached with the world markets and vulnerable to the world market’s volatility. More than 65% of the trade is with other EU countries. Belgian unemployment rate is 7.7% which is even below the United States. They have a GDP of approximately $413.7 billion in 2011.
Belgian banks were severely affected by the international financial crisis in 2008 with three major banks receiving capital injections or stimulus from the government, and the nationalization of the Belgian arm of a Franco-Belgian bank. An ageing population and rising social expenditures are mid- to long-term challenges to public finances. It can be concluded that Belgium is a matured economy. Belgium’s currency is Euro which is the second most recognized foreign currency of the world after the U.S. Dollars. Social
The people of Belgium are called Belgian. The ethnic group includes 58% Fleming, 31% Walloon and 11% others. Dutch is spoken by 60%, French is spoken by almost 40% and German is spoken by less than 1% of the population. However, all three of these languages are official languages in Belgium. The population of Belgium is approximately 10.4 million as of 2012. Roman Catholic is the primary religion. Brussels is the capital of Belgium and 97% of the people live in urban areas. Belgium has a high literacy rate of 99% among both male and female. Overall, Belgium’s society is liberal towards businesses and is adoptable to new products. Technological
Belgium is a technologically advanced country. Belgium has significant presence of several global players in the sector of technology. The telecommunication sector of Belgium is highly developed with latest technology. It is completely automated with domestic and international telephone facilities. Belgium’s citizens are very depended on cellular phone. As a country, Belgium has very high quality info structure in terms of mobile-cellular telephone system, and extensive cable networks. Belgium has 5.1 million internet users while the actual population approximately 10.4 million. So, the internet users are almost half of the population. The infrastructure of technology in Belgium is very advanced with several universities promoting research and development within the country. People of Belgium also welcome latest technologies. So, technological changes are widely accepted in Belgium. Environmental
Belgium promotes environmentally safe environments. There are several companies that promote green movement. As an influential member of the European Union and a neighbor of Germany, Belgium has an environment friendly policy. In fact, Belgium maintains a federal Ministry of Environment which is led by a minister of the party in Legal
Belgium’s legal system is based on French Civil code. Belgian law continues to be modified in conformance with the legislative norms mandated by theEuropean Union. In terms of international law organization’s participation, Belgium follows compulsory ICJ jurisdiction with reservations. They also accepts ICCt jurisdiction. Belgium does not have any major restriction for international investors and have a very liberal policy towards business investing in Belgium.