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Investing in Europe’s best

This week, Antti Aumo tells why Finland is such an attractive location for investments.

Today it makes perfect business sense for a company seeking international growth to choose Finland as its European headquarters. As one of the world’s most open and competitive economies and the only Nordic country using the euro, Finland is fully integrated into the global economy. We offer world-class technology, know-how and R&D incentives across a wide range of industries, one of the lowest corporate tax rates (20 per cent) in Europe and a highly skilled English-speaking workforce. Finland also presents an ideal gateway between Asia and EU markets, with the fastest flight connections between the two continents.

Foreign direct investment (FDI) has made an important contribution to Finland’s success story of sustained social and economic development. They have helped to transform Finland into one of the most technologically advanced and innovative countries globally.

According to a comparative study of 44 countries by the European Commission this year, Finland is currently the most attractive country in the European Union for FDI. The research reveals that Finland has the most attractive political, regulatory and legal environment in the EU, as well as the highest knowledge and innovation capacity. Finland is also one of the countries that have most improved their cost competitiveness during the period 2009-2014.

Of course, many international companies have already discovered Finland. For example, IBM recently established a Watson Health Center of Excellence in Finland, the first of its kind outside the United States. Meanwhile, Chinese company PowerVision decided to open a new R&D unit for unmanned aerial vehicle technology in Tampere to benefit from local ICT expertise and university research. Furthermore, Huawei’s latest Finnish R&D facility is working on camera solutions and imaging and audio algorithms for consumer electronics products.

Finland’s transparent and uniquely stable political system provides a high degree of continuity and predictability. Setting up and running a business here is now less risky, less complicated and less costly than just about anywhere else on the planet. And that’s not just my personal opinion, but the view of the European Commission.

Published on 03.11.2016