Estonia, Financial Services, Good for Business, Investments, Markets and Companies

"I consider supporting the local entrepreneurship environment very important foremost because it helps boost the preservation and creation of jobs. If we look outside of Tallinn, then support is needed in every field in the counties, whether it be manufacturing or tourism. All these fields require a suitable environment and infrastructure and this is what we are helping to create with the support," Minister of Public Administration said in a press release published by Enterprise Estonia. "These kinds of projects, which create the possibility for the establishment and development of entrepreneurship, have great impact as they boost economic growth in the entire country."

According to EAS board member Sigrid Harjo, previous application rounds aimed at strengthening regional competitiveness have been characterized by a prevalence of the tourism field, but this time, there were also many projects aimed at developing manufacturing and entrepreneurship fields. "Altogether 10 various fields of industry in five counties will be supported, which 27 businesses already operating there will directly benefit from. At the same time, opportunities will be created for bringing new investments to the regions," Harjo said.

"With the help of tourism investments, the focus will be on developing objects that emphasize the characteristic of the regions to bring visitors further than Tallinn. As a result of the projects, new visitors will visit the counties and the duration of the stay of the tourists in the region will lengthen. This way, the impact of the visits will also reach other businesses in the region and accommodation and catering establishments will also benefit," Harjo said.

With the help of the support aimed at strengthening regional competitiveness, it is possible to make investments in the development of tourist attractions that emphasize the characteristics of the destination, the establishment of support infrastructure necessary for business by the industrial and business areas, the development of incubation and product development opportunities, making the public space of city centers more attractive to business and developing the connections between centers and hinterland.

Enterprise Estonia will be responsible for distributing the support and executing the projects until September when it will hand over the job to the State Support Service Center, which will start monitoring the realization of the projects and organize payments.