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Government and ministries

New programme to strengthen Finnish ownership in companies

Ministry of Economic Affairs and Employment 3.9.2020 11.50 | Published in English on 8.9.2020 at 14.20
Press release

In an attempt to create new jobs and economic growth, the Government is planning to launch a domestic ownership programme, which involves exploring different ways to strengthen and diversify Finnish ownership base in companies.

The Ministry of Economic Affairs and Employment has appointed a working group for the programme, which is chaired by MP Juha Sipilä. The working group met for the first time on 3 September 2020 to agree on the practicalities.

“Domestic owners are more likely to invest in Finland, which is why Finnish ownership creates jobs, encourages self-employment and increases wellbeing. We need both private and institutional investors who are keen to build better business in Finland,” Minister Mika Lintilä says.

“Finland urgently needs domestic ownership to sustain wellbeing. Finnish ownership creates jobs and wellbeing, and typically involves a long-term commitment. However, there are certain flaws in the ownership environment and competence that we need to address quickly. Our working group is looking forward to this opportunity to analyse the current state of domestic ownership and to present recommendations to Minister Lintilä,” says Juha Sipilä, chairman of the working group.

Business sector broadly represented in the working group

The working group is to submit its proposal by February 2021. The proposal will be prepared in close cooperation with various interest groups and in consultation with experts, entrepreneurs and self-employed persons, and citizens. The members of the working group are:

Juha Sipilä, Chair, Member of Parliament
Philip Aminoff, Vice-Chair, Chairman of the Board of the Family Business Federation (Perheyritysten liitto)

Members:                   

Kari Jussi Aho, Chair of the Delegation for Entrepreneurs, Confederation of Finnish Industries
Jenny Hasu, Special Adviser to the Minister of Economic Affairs, Ministry of Economic Affairs and Employment
Johanna Ikäheimo, Chairman of the Board of Directors, Lappset Oy
Sari Lounasmeri, President and CEO, Finnish Foundation for Share Promotion
Jyrki Mäkynen, Chairman of the Board of Directors, Federation of Finnish Enterprises

The working group will be assisted by a secretariat consisting of representatives from the Ministry of Economic Affairs and Employment and the Ministry of Finance.

Domestic ownership means that Finnish companies are owned by Finnish entities such as households, family businesses, foundations, investors, pension companies or the state.

Inquiries:

Juha Sipilä, chair of the working group, Member of Parliament, tel. +358 9 4321
Kari Virtanen, Senior Ministerial Adviser, Ministry of Economic Affairs and Employment, tel. +358 29 504 7707 (secretariat of the working group)

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