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
On 11 February, heads of state or government of European Union member states will meet in Brussels to seek a commitment towards implementing a revitalised economic strategy to boost employment and growth in the EU.
more »
International Monetary Fund forecasts that Lithuania’s economy will grow 1.6 % this year, making it “the only one of the three Baltic economies expected to be in the positive territory in 2010”.
more »
Raynair announced it would open its 40th and 1st Central European base at Kaunas, Lithuania’s second largest city, in May with 2 based aircraft and 18 routes.
more »
A new Partnership Strategy for Morocco has been approved by the Board of Executive Directors of the World Bank.
more »
The electric car is an opportunity for European industry.
more »
The EBRD’s Board of Directors has adopted a new strategy for Kazakhstan, which reinforces the Bank’s commitment to further support the Kazakh economy and sets out the priorities for its activities in the country over the next three years.
more »
The European Commission has authorised, under EU state aid rules, plans notified by Sweden to provide a guarantee that would enable Saab Automobile AB to access a loan from the European Investment Bank (EIB).
more »
At the informal meeting of the Ministers of Competitiveness (Science and Industry), to be held between 7 and 9 February in San Sebastian, the issues on the table will include placing science at the top of the EU agenda and showcasing its role in economic recovery, as well taking the debate on the electric vehicle to EU level.
more »
The Executive Board of the International Monetary Fund (IMF) today approved a 27-month Stand-By Arrangement with Jamaica in the amount of SDR 820.5 million (about US$1.27 billion) to support the country’s economic reforms and help it cope with the consequences of the global downturn.
more »
Mr. Nadeem Ilahi, chief of an International Monetary Fund (IMF) staff mission to the Kyrgyz Republic, issued the following statement today in Bishkek.
more »