Why You Should Invest in Finland
February 20, 2018
Europe is a wealth of growth and innovation but one country stands apart – Finland. Known for saunas and the home of Father Christmas himself, the country has consistently been a heavy hitter in the technological market. If you’re not quite convinced that the Finnish market is for you, then here’s a list of reasons why you should invest.
The largely free market economy in Finland is very stable and has one of the highest GDP per capita in Europe. Around 50% of Finland’s GDP comes from exports.
The major sectors for economic development in Finland are biotechnology, chemical industries, life sciences, communications, electronics and services.
Not to mention they are ranked as one of the smartest countries in the world. Finland’s citizens are highly talented and multifaceted. So, you’d most likely be dealing with the best and the brightest.
International trade is arguably one of the least complicated things to do with Finland. There are numerous agencies set in place both from the US and the Nordic region to help promote it. The US Commercial Service and the Finnish Foreign Trade Agents’ Federation have commercial agents, importers, and distributors.
International trade is arguably one of the least complicated things to do with Finland
The Finnish Foreign Trade Agents’ Federation operates in multiple sectors including raw materials, furnishings, textiles, and furnishings.
The US Commercial Service offers services involving matchmaking businesses, trade events, market intelligence, and due diligence on foreign parties.
Finland is known as one of the most transparent countries in the world with extremely low corruption rates, especially in the government. Around 20% of Finland’s GDP comes from goods and services provided by the government. It’s also a part of the World Trade Organization Government Procurement Agreement (GPA) which is an initiative to open government procurement markets to those part of the agreement. Fun fact: the US is involved in it.
Finland is known as one of the most transparent countries in the world with extremely low corruption rates, especially in the government
This is an electronic newsletter for the Public Procurement Advisory Unit which will give you information on guidelines, practices, etc. Before using this link make sure you have a browser that can translate Finnish to English.
Abundance of Sectors
Nokia is one of the power houses backing the Finnish economy. They’re responsible for the majority of the technological advances in the country.
The inventors of the first internet browser with a user interface, Class of Clans, and Angry Birds call Finland home. It’s no wonder it houses some of the most intelligent people in the world.
Nokia is one of the power houses backing the Finnish economy. They’re responsible for the majority of the technological advances in the country
The education system in Finland is ranked as one of the highest globally. It’s free at all levels, which makes finding scientists, engineers, and other specialized experts much easier.
Experts working in companies like Nokia are looking to surpass much of the rest of the world’s current technology. This creates a need for equipment and software. Because of this, the Finnish are constantly on the lookout for US companies wanting to do business in software and to import medical equipment.
Finland is the most heavily forested country in Europe, with 86% of Finland’s land being covered by woodlands. Not to mention, it’s 90% PEFC-certified. The Programme for the Endorsement of Forest Certification (PEFC) is an international non-profit and non-government that advocates the sustainable management of forests through independent third party certification. If you’re looking for a proper and viable way to do business without ruining the environment, Finland is the way to go. With the use of these forests, Finland produces biochemicals, and advanced biomaterials. The Finnish are pushing to use wood in various products such as sound systems, and car parts.
Although Finland is in SEPA, it is also known for having secure banking systems and reducing transfer fees. However, when making an international transfer from the US, banks will charge you.
Veem is a financial service that will eliminate transaction fees and help you save on FX when making global payments. You can avoid multiple trips to the bank, and technical headaches by paying your supplier with just a few clicks.