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
Women in the EU earn on average 18% less than men - a gap that has scarcely narrowed over the last 15 years and in some countries has even grown.
more »
43 gas and electricity projects to split €2.3bn, the most the EU has ever spent on energy infrastructure in a single package.
more »
Georgia and the European Union have initialled a comprehensive air services agreement at a meeting in Tbilisi, Georgia, today which will open up and integrate the respective markets, strengthen cooperation and offer new opportunities for consumers and operators.
more »
In order to vitalize and strengthen cooperation of business stakeholders in the region, the Nordic and Baltic countries continue running joint mobility programme.
more »
The EBRD is boosting the availability of financing to the real economy sector in Serbia, with a €20 million credit line to Société Générale Serbia for on-lending to small and medium enterprises.
more »
The EBRD is supporting the development of the private sector in Armenia and increases further the availability of financing in the real economy sector with a $10 million loan to Ameriabank for on lending to local companies under its Medium Sized Co-financing Facility (MCFF).
more »
The EBRD is supporting the modernisation and improvement of transport infrastructure in Albania with a €50 million sovereign loan to finance the rehabilitation of regional and local roads in the country.
more »
Given the deep impact Latvia has suffered in the wake of the global crisis, and due to the emergency nature of this program, the first operation will focus mainly on the first and second objectives.
more »
Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), will visit Africa March 7-11, to discuss opportunities and challenges facing African economies in the wake of the global crisis.
more »
Without enough money, the EU 2020 strategy risks turning into "another vague scoreboard for the Member States", the EP Budgets Committee warned on Thursday when adopting its priorities for the 2011 budget.
more »