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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.

24.11.2022 | On 24 November 2022, the Government authorised the Ministry of Economic Affairs and Employment to make on its behalf a EUR 200 million gratuitous investment in the Climate Fund’s reserve of unrestricted equity. The capitalisation would occur in one instalment in 2022.

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.

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.

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.

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.

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...

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...

16.6.2022 | Finland clearly exceeded its binding energy saving obligation set on the basis of the EU Energy Efficiency Directive in 2014–2020. At the end of 2020, the total energy savings achieved exceeded the national obligation by more than 85 per cent. All other energy saving targets set for Finland were also achieved.

16.6.2022 | The board of directors of Työkanava Oy has appointed Sari Nikkola as the company’s chief executive. She will start in the position on 1 September 2022.

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.

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.

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.

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.

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.