Boosting growth through foreign investments
One of the tasks of the Ministry of Economic Affairs and Employment is to promote foreign investment. Finland can only attract foreign investments
- if it can offer a business-friendly operating environment,
- if the efforts are supported by active sales and marketing,
- if it has a business-friendly country image and
- if there is close cooperation between national and regional actors.
In 2012, the Government approved the Team Finland strategy to attract foreign investments in Finland. The main aim of the investment strategy is for Finland to exceed the average EU level in direct foreign investment in terms of proportion of GDP by 2020.
In 2014 foreign investments in Finland accounted for 49.1 per cent of GDP. The average for the European Union was 49.6 per cent. The figures are based on statistics from the United Nations Conference on Trade and Development (UNCTAD).
As part of the Team Finland investment strategy, Finland has introduced an acceleration lane the aim of which is to attract large investments in Finland. The acceleration lane does not have a single working model as the service is always examined on a case-by-case basis.
Acceleration lane measures are directed at selected foreign investment projects. The key criteria for selection for the acceleration lane are as follows:
- the investment must be significant in monetary terms
- the investment must have a substantial employment impact
- the investment must have a particularly positive impact on the Finnish know-how base.
The ministry makes the final decisions on projects to be accepted onto the acceleration lane.
Invest in Finland
The task of the international investment promotion organisation Invest in Finland (IIF) is to attract foreign investments, venture capital and companies to Finland. An additional goal of IIF is to strengthen centres of expertise and to boost employment and the internationalisation of companies. IIF is part of Finpro.
Further information: Henri Backman