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
An International Monetary Fund (IMF) mission led by Mr. Hunter Monroe of the IMF’s Western Hemisphere Department visited Dominica during January 18-28 for the annual Article IV discussions on economic developments and macroeconomic policies.
more »
Experts in agriculture and government authorities coincided in requesting new management mechanisms and market regulation to protect the farming sector from the price crisis and enable generational changeover in rural areas at the European Congress of Young Farmers, organised by the ASAJA-Seville agricultural organisation.
more »
Immediate action is required to solve Europe's skills deficiencies and give Europeans a better chance of labour market success in the future, says an independent expert report published by the European Commission today.
more »
The European Investment Bank (EIB) is lending EUR 15.5 million to upgrade water supply and wastewater treatment in the City of Mykolayiv (southern Ukraine) and EUR 100 million to finance small and medium-sized investments in the areas of SMEs, energy efficiency and the environment in Ukraine.
more »
The European Commission can confirm that on 20 January 2010 Commission officials carried out targeted inspections at the premises of producers of Flexible Alternating Current Transmission Systems (FACTS).
more »
The European Commission has authorised today under the State aid rules a Lithuanian scheme worth LTL 10 million (approximately EUR 2.9 million) aimed at supporting farmers who encounter difficulties as a result of the current economic crisis.
more »
The effects of the global food, fuel and economic crisis would be felt by Africa’s people for some time yet and it was important to persist with efforts to protect the most vulnerable while laying the foundations for future productivity and growth, World Bank Group President Robert B. Zoellick said Tuesday.
more »
Mongolia’s herders have learnt a hard lesson this winter; a lesson that can perhaps be applied to managing Mongolia’s economy.
more »
DnB NORD Bankas, the leader of the country’s in investment products market, raises initial margin ratio for repurchase deals for most actively traded Lithuanian and Estionian shares.
more »
With over 23 million unemployed in the Europe Union and the jobless figure having risen in every member state since last year, how Europe is coping with the crisis and the effect on pension systems were discussed on Thursday 28 January.
more »