Some 500 Finnish firms actively operate in Estonia at the moment, employing around 22,000 Estonians
Published:
27 October 2003 y., Monday
Some 500 Finnish firms actively operate in Estonia at the moment, employing around 22,000 Estonians. These figures have been published by Finpro, an organisation which assists Finnish companies in internationalisation.
There are a total of some 2,000 Finnish companies in the Estonian trade registry, but the Estonian Embassy in Finland estimates that one in five of the companies have no existing operations. The majority of the Finnish companies that operate in Estonia are either small or medium-sized. Consultancies and subcontractors are common examples, but companies such as Finnair and Fortum are also present in Estonia.
Finnair has established a subsidiary, Aero, in Estonia, and Fortum employs 140 in the country. International conglomerate ABB has 550 Estonians on its payroll through its Finnish subsidiary.
The Finnish textile and furniture industries also provide work for many Estonians, and numerous Finnish companies have transferred their call centres to Estonia. Both Finnish and Estonian embassy sources report that the upcoming EU membership of Estonia has not caused any great flow of business from Finland to Estonia. The tax advantages and cheap labour costs that Estonia offers have been available for years now. For example, the wage level in Finland is some six times higher than in Estonia.
According to Finpro, the number of Finnish companies operating in Estonia is growing at a steady rate of 5-10 new businesses annually.
Šaltinis:
helsinki-hs.net
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The EBRD is increasing the availability of financing to the real economy in Hungary, with a €50 million credit line to CIB Bank, including at least €10 million equivalent denominated in Hungarian Forint.
more »
At the end of March 2010, AB Bank SNORAS deposit portfolio exceeded LTL 5 billion, of which over LTL 3 billion are household deposits.
more »
In affirmation of Vietnam’s remarkable progress towards Middle Income Country status, the World Bank Board of Directors today approved a second loan for Vietnam from the International Bank of Reconstruction and Development (IBRD).
more »
The World Bank today approved a EUR26 million loan to the Republic of Croatia aimed at further improving the efficiency of Croatia’s justice system − a necessary process in Croatia’s path towards successful European Union accession.
more »
The ACP-EU Joint Parliamentary Assembly asked the European Commission to help EU and ACP banana producers adapt to the new EU-Latin America trade agreement, which is expected to put an end to fifteen years of “banana wars” between the two continents, but has raised concerns for the livelihood of some regions' producers.
more »
As seventeen of Africa’s 53 nations celebrate 50 years of independence in 2010, Africa’s “golden moment has come” and investors around the globe must look to the continent often painted only as risk-prone if they are to capitalize on business opportunities.
more »
During the ordinary general shareholders’ meeting of AB Bank SNORAS, which took place on 31st March 2010, the bank’s profit distribution was approved.
more »
The EU is the world's largest economy, with enough international clout to return to "real capitalism" rather than resign itself to an alien "financial capitalism", concluded MEPs and experts at a public hearing held on Thursday by Parliament's special committee on the crisis.
more »
Food quality and labelling are likely to be key issues when the Common Agriculture Policy is overhauled in the coming years.
more »
The European Investment Bank (EIB) is lending EUR 250 million to Russian company Enel OGK-5 to finance the upgrading of a gas fired power plant located in Nevinnomyssk, South Russia.
more »