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Friday, 19.04.2024, 17:35
Swedbank: companies based on Estonia capital have coped better with crisis
Juhan Tere, BC, Tallinn, 20.05.2011.
Print version
Print versionCompanies that operate in Estonia and are based on Estonian capital have coped with the economic crisis better than companies based on foreign capital, Swedbank’s corporate banking managing director Robert Kitt said, as reported by LETA/Postimees Online.
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“It can be seen that companies based on Estonian capital were looking for export possibilities more actively that companies with foreign capital,” Kitt said at a customer seminar.
“While it is easier for a foreign industry to close its company in Estonia, local capital chooses to rather go and work.”
Kitt noted that since Estonia depends on foreign demand, the Estonian economy is doing as well as Finnish and Swedish industrial companies are doing since a large part of our exports depends on the wellbeing of the Scandinavian industry.
He warned that exporters have to be ready for possible weakening of demand and it is important to find new markets and products.
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