Developing countries and emerging markets
In the future, emerging economies and developing countries are estimated to become key engines of global economic growth. The Ministry of Economic Affairs and Employment promotes the creation of new innovations and socially responsible business activities targeted at markets in developing countries. Sustainable economic growth is the best way to reduce poverty in developing countries as well as to ensure environmentally sustainable development and the creation of decent jobs.
Making use of companies’ innovations
Finnish enterprises can offer solutions that benefit developing countries, for example, in fields of urbanisation, development of clean technologies, promotion of health, securing the supply of clean water, digital services, bioeconomy and circular economy.
Digital services can be used to enhance for example education and training, health care and governance. Solutions based on renewable energy and clean technology may help solve energy supply problems and ensure that the production of energy does not put pressure on the environment.
Support for development projects
The BEAM programme run by Tekes, the Finnish Funding Agency for Innovation, helps Finnish enterprises and other operators to solve global development challenges through innovation and to turn innovations into successful and sustainable business. The programme provides support for projects organised by enterprises, NGOs, research organisations, universities and universities of applied sciences. Projects are currently being implemented in India, South Africa, Namibia, Kenya and Vietnam.
Team Finland services help enterprises go international. Team Finland growth programmes support SMEs in developing business activities targeted at emerging markets and help them find the right partners.
Finnfund finances profitable private projects in developing countries and Russia. Finnfund provides Finnish enterprises with risk capital, long-term investment loans, and expertise in investing in developing countries. The Finnpartnership programme offers support for business partnerships and helps companies find business partners in developing countries through its matchmaking service.
Sustainable development based on natural resources
In many countries, the only way to quickly increase the wealth and activity of citizens is to improve the management of natural resources and increase the degree of processing they undergo. These objectives are promoted in projects implemented by the Geological Survey of Finland (GTK). GTK’s projects aim at, for example, increasing local expertise in the field of natural resources, developing the management of geodatabases and improving food security.
Leena Pentikäinen, leena.pentikainen(at)tem.fi