ID :
9310
Tue, 06/03/2008 - 14:06
Auther :
Shortlink :
https://oananews.org//node/9310
The shortlink copeid
Finland seeks cooperation with UAE sovereign funds: official (UPDATE)
HELSENKI, June 3, 2008: The United Arab Emirates is one of the Arab economies that are most attractive to foreign investments, thanks to its flexible economy, strong financial position, high transparency and the laws enacted to protect investments, according to Tuomo Airaksinen Chief Executive Officer of Invest in Finland, the Finnish Investment Authority.
In a statement to WAM in Helsinki, the Finnish official said his country is seeking to establish cooperation with sovereign funds in the Arabian Gulf including the UAE. Enhancing joint investments and attracting investments from the Gulf to Finland's industrial projects will be on the agenda of his upcoming tour in the region.
"More than 40 Finnish contracting and manufacturing companies are already operating in the UAE..... Newly launched giant projects in Abu Dhabi provide big opportunities for Finnish companies in the coming years," Airaksinen remarked.
Although Gulf States have small direct investments in Finland, they have pumped big investments in Finnish banks, he noted without revealing numbers.
Foreign Direct Investments in Finland reached 6 billion Euros in 2007 and 303 foreign companies have already moved to the Scandinavian country, the Finnish official added.
Finland hosts around 4000 foreign companies operating in hi-tech and advanced industries; he said adding that Scandinavian countries are competing to attract foreign investments.
Finland seeks to exploit its geographical location to further boost trade with neighbouring countries.
"Around 50% of foreign investments in Finland come from Sweden followed by the Netherland." Finnish gold mines which will be operational next year have already attracted investments from around 40 foreign companies and the number is expected to grow, Airaksinen noted.
In a statement to WAM in Helsinki, the Finnish official said his country is seeking to establish cooperation with sovereign funds in the Arabian Gulf including the UAE. Enhancing joint investments and attracting investments from the Gulf to Finland's industrial projects will be on the agenda of his upcoming tour in the region.
"More than 40 Finnish contracting and manufacturing companies are already operating in the UAE..... Newly launched giant projects in Abu Dhabi provide big opportunities for Finnish companies in the coming years," Airaksinen remarked.
Although Gulf States have small direct investments in Finland, they have pumped big investments in Finnish banks, he noted without revealing numbers.
Foreign Direct Investments in Finland reached 6 billion Euros in 2007 and 303 foreign companies have already moved to the Scandinavian country, the Finnish official added.
Finland hosts around 4000 foreign companies operating in hi-tech and advanced industries; he said adding that Scandinavian countries are competing to attract foreign investments.
Finland seeks to exploit its geographical location to further boost trade with neighbouring countries.
"Around 50% of foreign investments in Finland come from Sweden followed by the Netherland." Finnish gold mines which will be operational next year have already attracted investments from around 40 foreign companies and the number is expected to grow, Airaksinen noted.
