EMCC European Monitoring Centre on Change

Internationalisation activities of Enterprise Estonia (reputation of Estonia in foreign countries and involvement of foreign investments)

Estonia
Phase: Anticipation
Típus:
  • Access to finance
  • Support for digitalisation
  • Advice
  • Attracting investors
  • Matching/Networking
  • Support of companies' growth
  • Support of internationalisation
Utoljára módosítva: 17 July, 2020
Név:

Ettevõtluse Arendamise Sihtasutuse rahvusvahelistumise tegevused (mainekujundus, välisinvesteeringute kaasamine)

Angol név:

Internationalisation activities of Enterprise Estonia (reputation of Estonia in foreign countries and involvement of foreign investments)

Coverage/Eligibility

The activities of Enterprise Estonia target potential foreign investors. There are no sectors that are targeted, but there is an orientation towards new smart technologies and high level of automation.

Main characteristics

The purpose of the internationalisation activities is to attract potential investors (to invest in already functional company or to start new businesses) in Estonia. The services include sharing/matching information about available possibilities to Estonian companies looking for investors and investors looking for opportunities.

Enterprise Estonia has divisions in the following countries: Finland, Sweden, Germany, UK, Norway, Denmark, the Netherlands, France, Russia, India, Japan, China, and USA. The main aim is to develop the reputation of Estonia in these countries. Part of the work is to attract foreign investments into Estonia by organising events for potential investors in order to promote Estonia, to introduce the business opportunities and to establish business contacts. Some examples of the reputation-raising activities include advertisements in foreign press, organised visits for journalists, trade fairs, info days and presentations at seminars. Also, more specific information is provided to foreign investors through consultation, for example by putting the investors in contact with Estonian companies, introducing how and where to find information about business possibilities, and address all questions they might have.

Potential investors are also served through a website ('Invest in Estonia') providing the information needed for potential investors, for example information about entrepreneurship in Estonia, services and support measures, tax system, legal framework, business environment, labour market, etc. This helps to expand business or internationalise companies by offering all the necessary information for potential investors at once.

Enterprise Estonia also actively promotes Estonia's e-services. For this purpose a dedicated showroom facility called e-Estonia showroom has been established, where the story of e-services development is introduced and different e-services, innovative solutions and cooperation opportunities are presented. Visiting the showroom is free of charge.

A website ('Work in Estonia') for foreigners interested in working in Estonia or employers interested in hiring foreign specialists has also been launched. The aim is to introduce Estonia as an attractive country for working especially in ICT and engineering sectors. It gives information about working in Estonia, hiring foreigners and allows publishing job vacancies for free. In principle, it should become a one-stop-shop for investors, making all the relevant information and opportunities available.

Funding

  • National funds

Involved actors

National government
Funding
Egyéb
Enterprise Estonia is responsible for implementing these activities.

Effectiveness

The goal for 2014-2017 was to include €250 million of new investments and create 2,000 new jobs. In 2018, the goal was to include €150 million and create 1,000  jobs. The table below shows how many new investments were made and how many jobs were created through the activities:

Year Number of investors Amount of investments in € Jobs created
2014 40 114 million 1,214
2015 33 107 million 1,004
2016 35 102 million 721
2017 30 102 million 1,055
2018 56 (no of projects) 324 million 1,472

Source: Enterprise Estonia, annual activity reports 2014-2018

When comparing the actual results to the goals, it can be concluded that the activities have been effective. In 2018, one third of the projects were related to the expansion of the local companies. 

Strengths

EAS has several foreign divisions all over the world and is actively working on broadening its network of activities and  increasing its level of active participation in events.

Weaknesses

No information available.

Példák

Due to the work of EAS, international company CoinMetro expanded its activities and chose Tallinn (Estonia) to its European base. It should result in €12 million investment in Estonia and 50 new jobs.
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