Finland wants to attract more international companies

New investment strategy proposal calls for fast track for major investors.

Efforts to attract more international companies to Finland and boost foreign direct investments are at the centre of a proposal for a national investment strategy prepared by a working group of Finland’s Ministry of Employment and the Economy. The Finnish government views foreign investment as an important factor for ensuring the robust development and growth of the economy.

The working group of the ministry presented its proposal to Jyri Häkämies, Minister of Economic Affairs, on 3.10.2012. The proposal will now be discussed by the steering group for Finland's external economic relations led by the Prime Minister Jyrki Katainen. Based on the proposal, the government will prepare a resolution for its strategy for promoting foreign direct investments by the end of the year.

Fast track proposal for major investments

One of the draft measures included in the proposal is a fast track process for major investment projects. The criteria for selection to the fast track would include the monetary value of the investment, its employment impact and contribution to strengthening the Finnish knowledge base.

“Finland needs investments to support growth and employment,” said minister Häkämies, commenting on the proposal which includes a total of 17 draft measures for making Finland a more attractive investment location to international companies. The proposal also suggests setting a target that direct foreign investments to Finland should exceed the EU average by the year 2020.

Source: Ministry of Employment and the Economy