Estonia welcomes more Chinese investment
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Editor's note: Among the European Union nations, Estonia is geographically the closest nation to China. In recent years, bilateral trade and Chinese investment in Estonia are growing rapidly. Sort of Life editor K M Rehan Salahuddin interviewed Mr. Krister Kalda, director of Enterprise Estonia on the explanation of why people should invest in Estonia.
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| Krister Kalda |
Sort of Life: After the Expo 2010, Estonia is much known to Chinese people than it was before. The theme Save City has won the heart of Chinese people. Is there any significant improvement of Chinese investment in Estonia since Expo 2010?
Krister Kalda: Investments take time to develop. After the EXPO 2010 we have noticed that there is a growing interest in Estonia among Chinese companies and people as quite many Chinese business delegations come to visit Estonia.
Sort of Life: What are major features of the foreign investment policy that may attract investment by Chinese companies in Estonia?
Krister Kalda: Estonia is a country located at the heart of the Baltic Sea Region – Europe's fastest-growing market of more than 90 million people. It is a country described by political and economic stability, easy accessibility, low cost of doing business and we treat our own companies and foreign investors equality.
Since joining the European Union and NATO in 2004, Estonia has experienced phenomenal economic growth. Today, Estonia's government debt is among the lowest in Europe and the economy has shown considerable endurance to the global economic crisis.
Estonia ranks 12th out of 141 countries in the Economic Freedom of the World 2010 Report.
The World Economic Forum's Global Competitiveness Index 2010-2011 ranks Estonia 33rd among 139 countries. The survey among business leaders measures economic competitiveness based on a combination of technology, the quality of public institutions, and the macroeconomic environment.
The World Bank ranks Estonia 17th in its Doing Business in 2011 report, which covers 183 countries.
Foreign investors have played a decisive role in building the Estonian economy. Estonia has not based its attraction of FDI on specially designed support schemes but it is our favorable business environment that makes the difference.
The Estonian Investment and Trade Agency is organized as a division within Enterprise Estonia, the country's largest support institution for business and entrepreneurship.
Our mission is to ensure a competitive business environment for foreign investments and trade in Estonia, to raise the profile of Estonia among key audiences, and to establish and develop business relationships with international companies.
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