Finland could double the value of its bioindustry

Minister calls for Finland to broaden its industrial base and exploit the growth potential of the bioindustry.

Finland could double the value of its bioindustry and become a pioneer in the global markets, said Jan Vapaavuori, Minister of Economic Affair, at the closing seminar of the Forest Bioindustry Roadshow in Helsinki this week. Vapaavuori believes that the global bioindustry is going into a rapid growth phase, creating new international business opportunities that Finnish industry can exploit.

The bioindustry is already a central part of the Finnish economy and the government is strongly committed to supporting its development. “Finland is currently preparing a national bioindustry strategy. The state has also directed energy subsidies to investments in renewable energy. Promising sectors include biofuels like biodiesel and ethanol,” said Vapaavuori. “Now if ever we need our strengths – high-level know-how, innovations, and the sensitivity to make quick changes if required.”

Forest bioindustry needs big players

The forest bioindustry constitutes half of the Finnish bioindustry. According to Vapaavuori, it is essential for Finland’s success and growth that the country’s industrial base expands and that major companies participate in the development of the bioindustry.

“The most significant bioprojects are large in scale and also require a huge amount of capital. At the same time the supply of wood that is essential for forest bioindustry projects requires a broad and efficient infrastructure. Big companies have the financial resources and harvesting and logistical systems that work on a national scale. Without the participation of the big companies many of the bioprojects will not be implemented,” noted Vapaavuori.

Source: Ministry of Employment and the Economy