Managers of large multinational companies see Finland as a fairly uninteresting country for investments.
According to a fresh survey of more than 500 corporate executives mainly from Europe and the United States, Europe is generally seen as a lucrative area for expansion and setting up new industrial production. The survey, by the business services company Ernst & Young, puts other European countries ahead of Finland.
Germany and Russia are seen as the most lucrative countries for investment. About ten percent of executives surveyed say they have plans to invest in Russia or Germany. The new EU country Poland has risen considerably in popularity, as it is in the heart of Europe. It also has a large domestic market, and an economy that is expected to grow rapidly.
Finland does not appear on the list at all. According to Antti Hautamäki of SITRA, the Finnish National Fund for Research and Development, Finland is far from large European markets - much more so than even the Baltic States.
Hautamäki says that the Finnish corporate environment is not particularly dynamic, and the competition situation and legislation are considered inflexible.
Hautamäki notes that Finland can amass foreign investments only by focusing on certain fields. He notes that Finland is able to offer investors a skilled labour force and considerable know-how. "For instance, in the IT sector companies find synergy benefits in Finland."
Hautamäki sees Nokia as a good example of the benefits of focusing on one field. He notes that foreign companies have flocked around Nokia hoping to benefit from Finnish know-how.
Helsingin Sanomat
28.5.2004 - TODAY
Large multinationals have little interest in investing in Finland
Large multinationals have little interest in investing in Finland