12 December 2017
According to Finpro’s Invest in Finland, foreign direct investments (FDI) especially in euros into Finnish companies have continued to grow. This year 180 new foreign companies have established themselves in Finland by end of November. Already established, foreign-owned companies have made 150 further investments which can be seen in extensive recruiting.
Expansion of business through investment has created a significant number of new jobs in Finland. Companies have made significant investments for instance to grow their current capacity or renew their production technology to enable production of new innovative products. There is also demand for IT professionals.
“The further investments that have now been made highlight the fact that international companies want to commit to Finland in the long term and have come here to stay. They have the courage and ability to grow here, which has had a clear impact on the improved employment situation in Finland,” says Antti Aumo, head of Invest in Finland at Finpro.
For instance, Turku-based ICT company Nebula, which is owned by Swedish telecom Telia, has said it will recruit 100 new IT professionals. In addition to expansion, the other reason for the recruitment is the current strong growth of the company.
Sandvik, for its part, will employ 100 new people into its factory in Turku, where it already recruited 50 new people in 2016. After the newest wave of recruitments, the factory will employ over 600 persons. Sandvik is doubling its production capacity thanks to the improved outlook of the mining industry.
Transtech Oy, part of Škoda Transportation Group, has employed approximately 80 new people in 2017, most of them in the Finnish North, in Kainuu. Transtech has approximately 500 fixed-contract employees and approximately 100 agency employees.
The positive recruitment trend is expected to continue in 2018. For example, Meyer’s shipyard in Turku has said it will recruit 500 new employees next year. Also Transtech is expecting to recruit the same number next year as it did this year.
“As a technology superpower and outstanding innovation environment with its world-class experts, Finland creates a very attractive business environment for foreign companies. Our country is politically stable, in addition to which international companies respect the transparency of our administration and the equality of our society,” says Aumo.
Looking by industry, the largest FDIs to Finland this year have gone into the finance and insurance sector companies (31% of total industry investment base) and other service companies (30%). In manufacturing, the largest investment went into the metal industry (12%) and chemical industry companies (10%). The largest number of new companies located into business services, health and welfare services and ICT.
Head of Invest in Finland
tel.+358 40 505 0477
tel. +358 40 033 9597