Guest Blog: Finland continues as the leading FDI country in the Nordics thanks to ease of doing business

According to the EY 2018 Nordics Attractiveness Report, Finland leads in the Nordics for the number of FDI projects for the sixth straight year. Our investment environment has been shaped by decisions that have caught the attention of international investors.

Digital Economy and Society Index of 2017 ranks Finland as the second most advanced digital economy in the EU. Finland has a long history in IT, as the global success of Nokia spurred the development of our software and electronics cluster. Currently half of the world’s population uses mobile technologies developed in Finland!

Helsinki region sees the greatest pull in terms of investments. The Global Startup Ecosystem Report 2018 attributed the strong startup ecosystem to world-class universities, strong support from the national government, as well as the popular tech conference Slush.

Digitalization strengths range from gaming, with companies such as Supercell and Rovio, to IoT expertise where IT professionals and machinery companies, such as Kone, Metso, Valmet and Wärtsilä are pioneering the industrial Internet. “The autonomous shipping ecosystem in Finland provides compelling capabilities for Rolls-Royce: research partners like VTT Technical Research Center, top level ICT experts, a viable ICT ecosystem specializing in innovative technologies, and the testing site to boost piloting,” says Asbøjrn Skaro, Rolls-Royce Director for Digital & Systems — Marine.

Finland is a politically stable nation, leading to a predictable operating environment. Already in the 1960s, the Finnish Government started systematically storing health data. Digital registries, combined with 100% population penetration, make our health data unique. The electronic health data can be combined with the biological samples and phenotype data stored in the Finnish biobanks. Thanks to this and university-trained R&D professionals, global pharma and health-tech companies, including Pfizer, Merck and Roche, have partnered up with Finnish biobanks. “Finland has all the keys for success: quality education, smart and honest people, and a well-functioning society,” Didier Deltort, former director at GE Healthcare summed up.

Finland is the only country in the Nordics that uses the euro, providing investors easier access to EU markets. This spring, Nordic banking giant Nordea’s shareholders voted to move its HQ from Stockholm to Helsinki in order for the bank to join Europe’s banking union. Together with our regional development agency partners, we are inviting international talent also to look at Finland as the next step in their career — as UN report finds Finland the happiest country in the world!


 

Antti Aumo

Executive Director
Invest in Finland, Business Finland