As one of the most competitive and open economies in the world, Finland has a great deal to offer foreign investors.
Finland is a highly globalized industrial economy with a thriving service sector. Finland offers a first-class business environment: starting a business is easy and fast, and public research and development funding is readily available. Functional infrastructure, modern logistics and communications networks make doing business easy. Finland offers an accessible location in the growing markets of Northern Europe. Highly educated people are known as effective problem solvers and very reliable partners.
Finnish government is business-friendly, and the country has a developed infrastructure, a skilled workforce and competitive operating costs. Red tape is minimal and Finland is one of the least corrupt countries in the world according to Transparency International.
Foreign-owned companies can benefit from government investment incentives and access to the latest research from the extensive cooperation between Finnish universities and the private sector. As one of the most competitive and open economies in the world, Finland has a great deal to offer foreign investors.
- Values – Finnish economy is based on competitiveness, equality and trust, but most of all it is based on progress. Innovation always pushed Finland to find solutions to global problems and to deal with high-level decisions. Nevertheless, Finland has a strong historical and cultural background that offers great insight to both its people and the neighboring countries.
- Competent workforce – Finland’s workforce is highly educated and computer literate. The knowledge transfer between business and universities has been one of the key factors in Finland’s track record of innovation and economic success.
- Creative solutions – The basis of Finland’s competitiveness, equality and trust, was created through progress. Finland has focused on finding creative solutions to global problems. The problems the world now has to deal with are more numerous and more difficult than ever before. Solving them requires decisiveness, reliability and high-level expertise.
- Stable society – As a telling measure of its macroeconomic stability, Finland enjoys the highest possible status with the global credit rating agencies Fitch Ratings, Moody’s and Standard & Poor’s. According to the latest report from Fitch, Finland’s AAA status “is underpinned by sound public finances, a solid external position, high income per capita, demonstrable political and social stability and an impeccable debt service record”. Reliability and expertise are available in Finland’s stable society; the reputation for reliability and top quality offer a good springboard. Finland has been repeatedly ranked at the top of international sustainable development indices.
- Entry to the East – Finland offers a central location in the expanding markets of Northern Europe, which is home to 80 million consumers, and provides an ideal entry to the East. Finland’s long experience of trade in Northern Europe, combined with its historical and cultural ties to neighboring countries, offers valuable insight and knowledge into the region. Finland is the ideal business gateway also to Russia. Most of the transit trade from the EU to Russia already passes through Finland. The countries share the same rail gauge, so rail cars do not require modification or reloading when they cross the border.
- Excellent infrastructure – Well-functioning infrastructure and wide transport network are essential for smooth and safe traffic flow and the competitiveness of businesses. They also are a prerequisite for foreign investments in Finland.
- English – English is the common language of Finland’s highly international business community. It is also widely spoken throughout the population and especially among the younger generations. Swedish is Finland’s second official language in addition to Finnish and many Finns also speak Russian.
Want to know more? Read more about facts and figures and FDI in Finland here – www.investinfinland.fi
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Stay tuned for part two on why to invest in Florida!