Finland Must Boost Investments to Catch Up to EU, Ministry Says

Finland should promote foreign direct investments to stabilize economic growth and create jobs as it seeks to catch up to its European peers, a committee reporting to the Economy Ministry said.

Finland needs foreign direct investment worth as much as 30 billion euros ($39 billion) over the next eight years to achieve that target, the Helsinki-based ministry said today on its website.

Finland’s stock of foreign investments totaled about 60 billion euros last year, equal to about 32 percent of gross domestic product. Investment stock should grow between 20 billion to 30 billion euros by 2020 to exceed the European Union average of 42 percent, the ministry said.

The government will map out a strategy to attract investments by the end of the year.

To contact the reporter on this story: Kasper Viita in Helsinki at kviita1@bloomberg.net

To contact the editor responsible for this story: Christian Wienberg at cwienberg@bloomberg.net

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