Almost EUR 34 million allocated to innovation support for shipbuilding

Ministry of Economic Affairs and Employment 21.11.2019 13.54
Press release
Katri Kulmuni

In the amendment to the budget proposal for 2020, the Government proposes a grant authorisation of EUR 33.9 million to innovation support for shipbuilding. According to estimates, support will be granted for 5–6 shipbuilding projects. “The international competitiveness of the Finnish shipbuilding industry is based on specialisation, innovation and a high level of competence. The additional investments we have now decided on will help to maintain competitiveness,” says Minister of Economic Affairs Katri Kulmuni.

Of the total funding, the re-budgeting of previously allocated appropriations accounts for EUR 20 million and additional funding for EUR 13.9 million.

With the innovation support, the Finnish shipbuilding industry will be able to invest in the development of new innovations and thereby to strengthen the sector’s international competitiveness.

“Innovation support has played a key role in securing jobs in the shipbuilding industry and in finalising major export deals; it is therefore extremely important to maintain this level of investment and to help ensure a bright future for shipbuilding,” Minister Kulmuni continues.

Inquiries:
Arttu Karila, Special Adviser to the Minister of Economic Affairs, Ministry of Economic Affairs and Employment, tel. +358 50 341 6615