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Norwegian companies in Estonia

Norwegian companies in Estonia. Madis Rausi Innovation Norway Tallinn madis.rausi@invanor.no. Estonia at a Glance. Population: Area: Language: Currency: GDP: GDP growth: Export :. 1. 36 million 45,000 km² Estonian EUR 1 = EEK 15.65 € 8.78 billion (2004*)

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Norwegian companies in Estonia

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  1. Norwegian companies in Estonia Madis Rausi Innovation Norway Tallinn madis.rausi@invanor.no

  2. Estonia at a Glance Population: Area: Language: Currency: GDP: GDP growth: Export: 1.36 million 45,000 km² Estonian EUR 1 = EEK 15.65 € 8.78 billion (2004*) € 5952 per capita(2004*) 6.2 % (2004) 55 % of GDP (2004*)

  3. GDP growth and inflation1995-2004 Source: Statistical Office of Estonia

  4. Estonian Exports by Country, 2004 Source: Statistical Office of Estonia, special trade method

  5. Estonian Exports by Commodity Groups, 2004 Source: Statistical Office of Estonia, special trade method

  6. Innovation Norway • Innovation Norway is the official agency of Norway created to promote Internationalisation and Innovation. • Innovation Norway has replaced Norwegian Trade Council, Norwegian Tourist Board, the Regional Development Fund, and the Government Consultative Office for Inventors. Main services of the IN office in Tallinn: • Market development (market research, identification of importers and customers) • Identification of suppliers (finished products, subcontracting) • Assistance in identification of investment opportunities and corporate establishment

  7. Visions vs. reality • We are an outpost of the Norwegian national enterprise development • Visions: • Certain priority industries in Norway: ICT, Maritime, Marine, Oil&Gas, etc • Other priorities: internationalisation, entrepreneurs, SME-s, etc • Reality: • Need to meet concreete demand for assistance • Demand may not always coincide with the priorities (potential conflict) • Need to meet revenue targets

  8. Ballace - enterprise developer vs. consultant • Anything we do contributes to the internationalisation • Special subsidised products for entrepreneurs and SME-s • Internal funding for business development in priority sectors (identification of new opportunities and promoting them to Norwegian companies) • Being consultants and meeting the demand • Assisting the companies in increasing their competitiveness and revenues

  9. Trade between Norway and Estonia in million NOK, 1992-2004 Source: Statistics Norway

  10. Norwegian exports to Estonia,2004 Source: Statistisk Sentralbyrå

  11. Norwegian imports from Estonia,2004 Source: Statistisk Sentralbyrå

  12. 200 Norwegian establishments in Estonia Stock of Norwegian investments NOK 1.62 bln (31.12.04)

  13. Why have they established? • Market opportunities • Cost advantages • Raw materials (wood) • Well-educated labour force and special competencies

  14. Enterprise development in Estonia • Deep-rooted belief into liberal market economy (the almighty invisible hand) • Deep-rooted dislike of planning • If there is a vision, it is not converted into planning and implementation phases (see first two points) • Substantial funds started to flow into enterprise development only after the EU-accession • Implementation mainly through Enterprise Estonia – a governmental enterprise development vehicle (www.eas.ee)

  15. EU-support € 386 million: ERDF, ESF, EAGGF, FIFG € 311 million: Cohesion Fund € 173 million: CAP + rural development € 69 million: Schengen Facility € 20 million: Transition Facility Total: € 959 million (2004 – 2006) Norwegian and EEA financial mechanisms Priority areas including- Human resources development, health and child care, implementation of Schengen acquis, regional policy and cross border activities NOK 55 million annually Support schemes to Estonia Source: Ministry of Finance of Estonia

  16. Thank you and welcome to Estonia !

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