Search

1.9.2022 | On 1 September 2022, the Government proposed that the Act on State-Subsidised Export and Shipbuilding Credits and Interest Equalisation be amended. The proposal aims to improve the export opportunities of small and medium-sized companies and small export projects by providing companies with better financing for such projects.

1.3.2023 | Minister for Development Cooperation and Foreign Trade Ville Skinnari led a broad delegation on a visit to Uzbekistan and Kazakhstan from 21 to 24 February. The Team Finland visit was organised in collaboration with EastCham Finland, which is a Finnish chambers of commerce focusing on the Central Asian market. Emerging economies are interested in Finnish expertise in such sectors as education, energy and the environment.

21.9.2022 | In 2017, Fortum’s Board of Directors decided that the company would become a major shareholder in the German energy company Uniper SE. With the acquisition, Fortum became the third-largest producer of emission-free electricity in the EU. At the same time, the company’s business activities expanded to include fossil energy production and commodities trading in Central Europe, and the scope of its activities in Russia increased.

2.9.2021 | The Government plenary session today authorised the Prime Minister’s Office to finance the airport company Finavia Oyj with a capital loan of approximately EUR 33 million. The loan is part of the Government’s measures to safeguard the financial position of the state-owned company and will be drawn down at a date to be agreed on later.

27.4.2022 | In March 2021, the State signed an agreement with Finnair Plc on a hybrid loan with a limit of EUR 400 million to support the company due to the COVID-19 pandemic. In its meeting on 19 April 2022, the Ministerial Committee on Economic Policy decided in favour of converting the hybrid loan instrument to a capital loan in the form of an equity instrument. The capital loan will strengthen the equity of Finnair Plc, Finnair Group’s parent company.

16.3.2022 | The Member States of the European Union approved new sanctions on Tuesday 15 March.

7.10.2022 | On 6 October 2022, the European Union imposed new sanctions on Russia in response to Russia’s invasion of Ukraine. The eight package of sanctions will ban transport of Russian oil that exceed a pre-established price cap and add new import and export bans.

13.2.2023 | On 13 February, the National Audit Office of Finland issued its audit report on Finnfund’s investments and risk management. Finnfund is an impact investment company that is almost entirely state-owned. It has a statutory duty to promote the social and economic development of developing countries.

14.9.2021 | The wholly state-owned special assignment company Solidium Oy owns 6.3% of the shares and 8.0% of the voting rights of the steel company SSAB AB. At its meeting on 14 September 2021, the Ministerial Committee on Economic Policy supported the transfer of the SSAB shares from Solidium Oy to direct state ownership, as well as the definition of the State’s strategic interest related to SSAB ownersh...

4.8.2023 | Before Russia's invasion of Ukraine in February 2022, approximately one third of the energy used in Finland was imported from Russia. That share was reduced almost to zero in a few months, and the energy war launched by Russia increased consumer prices remarkably. As the energy markets have changed, it is the time to look how Russian energy was replaced and what more permanent effects trade changes will have.

6.11.2023 | The Russian salvage vessel Spasatel KarevKarev began to repair Rostelecom’s Baltika telecommunications cable in the Gulf of Finland on 6 November. The company has negotiated with the Ministry of Economic Affairs and Employment concerning the repair of the faulty cable, which is partly located in Finland’s exclusive economic zone.

8.12.2021 | On 8 December 2021, the Government’s Ministerial Committee on Economic Policy decided to support the proposal for an auction model that is to be applied to leasing public water areas governed by Metsähallitus to private companies for offshore wind power development and construction projects. The proposal aims to boost the market-driven development of offshore wind power.

8.7.2022 | On 8 July 2022, based on a proposal from the Ministry of Agriculture and Forestry, the Government decided to grant permits to Metsähallitus to lease state-owned water resources for wind power generation in the Korsnäs offshore wind farm project and the Tahkoluoto offshore wind farm expansion project. At the same time, with regard to the Korsnäs project, the Government granted permission to capital...

15.2.2023 | During 2019–2023, the Government’s working capacity programme sought solutions to the employment problems of people with impaired capacity to work. At the same time, the programme developed more effective services to support working capacity. The closing event of the programme on 15 February examined the employment of people with impaired work capacity from the perspective of social sustainability, inclusion and the service system.

31.3.2022 | Työkanava Ltd, a special assignment company wholly owned by the State, will start to employ people with impaired capacity to work who are in the most difficult labour market position. The Government submitted the bill concerning the Act on Työkanava for approval on 31 March. The President of the Republic is to approve the bill on Friday 1 April. The Act is intended to enter into force on 1 July 2022.

26.2.2022 | The Member States of the European Union approved the sanctions on Friday 25 February and the sanctions have entered into force.

21.7.2022 | On 21 July 2022, the European Union imposed new sanctions on Russia in response to its invasion of Ukraine. The new sanctions include a ban on imports of Russian gold. The new sanctions extend and specify previously imposed sanctions and include new provisions on their implementation.

12.11.2021 | Part of the Galileo satellite navigation system, the European Public Regulated Service (PRS) is scheduled to be introduced in Finland in 2024. The Ministry of Transport and Communications invites comments on the assessment memorandum by 10 December 2021. The memorandum examines the need for amendments to national legislation to allow the introduction of the service.

12.11.2021 | Part of the Galileo satellite navigation system, the European Public Regulated Service (PRS) is scheduled to be introduced in Finland in 2024. The Ministry of Transport and Communications invites comments on the assessment memorandum by 10 December 2021. The memorandum examines the need for amendments to national legislation to allow the introduction of the service.

22.12.2022 | The Finnish majority state-owned company Cinia is part of an international consortium engaged in planning an Arctic submarine cable that would connect the telecommunication networks of Europe, North America and the Far East. Together with its international partners, Cinia has established a development company to promote this Far North Fiber project that would be the first cable system to pass through the Arctic region, which connects several continents.