Credit: Luxembourg Chamber of Commerce
On Monday 2 June 2025, the Luxembourg Chamber of Commerce published its 2024 Annual Report, which provides a detailed overview of the national economy and highlights the major initiatives undertaken to support its 100,000 member companies, which it said represented 75% of salaried employment and 80% of the country's GDP.
The Luxembourg Chamber of Commerce reported that, in 2024, it continued to modernise and strengthen its services to support businesses at every stage of their development. It placed emphasis on administrative simplification, digitalisation, business transfers, recovery prevention and professional training for employees.
The Chamber of Commerce added that it was committed to an attractive legal and regulatory environment conducive to sustainable business development.
In terms of internationalisation, it strived to offer Luxembourg businesses "a rich and diverse programme", both in terms of sectors and markets.
Three new internal working groups have been created, focusing on Defence, Talents and Skills, and Artificial Intelligence (AI), reportedly demonstrating the company's commitment to anticipating major economic and technological challenges.
2024 also marked an important milestone with the implementation of a new internal governance structure, approved by the Plenary Assembly. This reorganisation aims to strengthen the agility, cross-functionality and efficiency of internal processes. Carlo Thelen, Chief Executive Officer, is now supported by Cindy Tereba, who has been promoted to Chief Transformation Officer and member of the Executive Board, while retaining her responsibilities as Director of International Affairs. The Executive Committee covers the areas of Economic Affairs, Entrepreneurship, Talents and Skills, and Legal and European Affairs, supported by specialised cross-functional functions.
The Luxembourg Chamber of Commerce recalled that it structures its actions around seven strategic priorities and a corporate social responsibility (CSR) strategy based on four pillars (sustainable business, community, people and planet).
Its seven objectives are to:
- contribute to the future of the economy from a sustainable development perspective and lead public debate as a spokesperson for businesses and general economic interests;
- work towards an attractive legal and regulatory environment conducive to the sustainable development of businesses;
- promote entrepreneurial spirit and economic diversification and support the creation, development, internationalisation and transfer of businesses;
- develop a qualitative professional training offer to support businesses, their leaders and employees to develop their skills and promote work-based learning (dual vocational education);
- act as an enabler by implementing initiatives, projects and infrastructures that advance businesses and society;
- contribute to an information and communication culture by producing and publishing reliable information on Luxembourg's economy and businesses:
- develop the Chamber of Commerce's internal organisation and governance to efficiently and professionally carry out its legal missions and to design, develop and deliver quality services that meet members' evolving needs.
In terms of the support services offered by the House of Entrepreneurship in 2024, the Chamber of Commerce provided various figures, notably:
- the House of Entrepreneurship processed 53,130 requests, responding in writing or over the telephone, through webinars or personalised interviews, offered free of charge to business creators and managers;
- 683 entrepreneurs received personalised support focused on the steps or challenges related to business launch, daily management, preventing difficulties, closing a business or relaunching after a failed business;
- throughout 2024, 265 entrepreneurs undertook a coaching programme lasting an average of three months, via the support programmes for business creators, from idea to first year of activity;
- 505 business managers received advice and guidance in the development and digitalisation of their business;
- the House of Entrepreneurship organised 363 workshops and webinars, thus raising awareness among nearly 6,646 business creators and managers on subjects such as business creation, digitalisation, development, recovery, cessation and transfer.
The full annual report is available at https://www.cc.lu/toute-linformation/publications/detail/rapport-annuel-2024
