18/04/2024
Yesterday, the Foreign Investors' Council in Estonia held its 2024 conference, which focused on the question: Do Foreign Companies Want to Stay in Estonia? More than sixty participants engaged in a morning full of lively discussions; a true dialogue between speakers, audience members and our special guest: the Estonian Minister of Economic Affairs and IT, Tiit Riisalo.
After a warm welcome by moderator Kris Leinatamm, FICE Chairman Peter Thomsen presented the FICE Executive Survey Report 2024. Minister Tiit Riisalo was the first one to receive the report, followed up by a discussion with him, Scott Levy, Sirli Männiksaar and Karsten Staehr.
The key findings of the report are:
1) Rising cost of doing business is undermining competitiveness.
2) A majority of those surveyed are not planning new investments.
3) Regulatory unpredictability and insufficient public- private dialogue are major concerns for our members.
4) Technology and Information Technology sectors will drive growth over the next 1 to 3 years.
FICE gives the following suggestions to the Estonian government:
A) Emphasis on vocational education and closer industry connection.
B) Relax visa regulations and quotas to attract skilled labour.
C) Improve dialogue between the public and private sector.
D) Increase R&D spending and up skilling towards higher value-added sectors.
In the second panel, moderated by Bart Cosijn, Lenno Uusküla, David Clark and Edmund Smolarek looked to the future, discussing what foreign investors and companies need to thrive in Estonia.
The FICE Chamber of the Year trophy was won by CAdFE - Club d'Affaires des Francophones en Estonie, and received by its chair Violaine Champetier de Ribes. They got this award for their hard work in involving members in the 2024 survey.
Here are more photo's of the conference: https://drive.google.com/drive/folders/1kzIOEaV2evoNDviD9QFwjwg8BKCCyCeo
Information about the programme and speakers can be found here: https://completeevents.ee/fice/
If you have questions about the conference, or would like to receive the presentation by FICE Chairman Peter Thomsen, send an email to [email protected]
We would like to thank all the speakers for their great contributions, the two moderators for facilitating great discussions, the FICE Survey Working Group, Joseph Duggan, FICE Economic Advisor and author of the Executive Report, the Conference Working Group. And a special thank you to Angela Saluste and RAIGO TRIIK of Complete Events who have contributed greatly to the success of the 2024 FICE Conference.
FICE members are: British-Estonian Chamber of Commerce, Danish-Estonian Chamber of Commerce, Estonian Norwegian Chamber of Commerce, German-Baltic Chamber of Commerce in Estonia, Latvia, Lithuania (AHK), FECC - Finnish-Estonian Chamber of Commerce, Swedish Chamber of Commerce in Estonia, CAdFE - Club d'Affaires des Francophones en Estonie, , ADVANTAGE AUSTRIA and Ukrainian-Estonian Chamber of Commerce.