EK: Investments of more than 3 billion euros frozen due to bureaucracy in Finland

“We can’t afford not to resolve this,” he said Jyri Häkämies, Director – General of EK.

The Organization for Economic Co-operation and Development (OECD), he recalled, has stated in its country report that hard regulation and inflexible licensing procedures to attract investment have led the country to lag behind other Baltic and Nordic countries. Häkämies pointed out that the situation is unfortunate, especially because achieving national climate goals requires unprecedented investment by companies.

“It is positive that the reform of the investment permit system is largely in Finland’s hands,” he said.

The estimate is based on a survey distributed to EK’s 706 member companies. The aim of the survey was to find out how companies have reacted to issues with the authorities in zoning, environmental impact assessment and permitting procedures, from construction and waste to chemical and mining permits.

The results show that companies are becoming more and more critical: only 15% would give things a good rating and as many as 37% a bad rating. The former percentage has fallen by three percentage points and the latter has risen by eight percentage points in the last three years.

Criticism was particularly reserved for review and appeal procedures.

Aleksi Teivainen – HT

Source: The Nordic Page


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