Estonia, Financial Services, Good for Business, Port, Transport

International Internet Magazine. Baltic States news & analytics Tuesday, 28.05.2024, 22:41

New Estonian econmin planning to list Port of Tallinn in 2018

BC, Tallinn, 22.12.2016.Print version
Estonia's Minister of Economic Affairs and Communications Kadri Simson has started preparations for listing the state owned port company Port of Tallinn, which is expected to happen in 2018, reports LETA/BNS.

"I've already met with the managers of Port of Tallinn, talked over what needs to be done to take minority shares in Port of Tallinn to the stock exchange and agreed further meetings for the beginning of the new year," Simson told Postimees in an interview.

Simson said that no more than 49% of the port company will be floated.

"It's important for the pension funds of the people of Estonia to have new possibilities to invest their money in Estonia," the minister said.

On the subject of privatization or listing of other state held companies, Simson said that with the road maintenance company AS Eesti Teed the required preparatory steps have to be completed by the end of 2017. "With EVR Cargo we haven't come far enough to be able to speak of concrete steps," the minister said about the state owned rail cargo operator.

The minister of economic affairs said that in addition she intends to find allies and communicate with the European Commission to ensure better flight connections for Estonia and give consideration to subsidizing air traffic with money from the state budget. "At present this is forbidden. There are no very simple ways of subsidizing on the table," she added.

The government also intends to ease the package of advertising and sales restrictions on alcohol filed by Minister of Health and Labor Jevgeni Ossinovski, finding that the package in its present form puts too strict restrictions on rural foodstores.

"Putting an extra burden on rural stores may lead to a situation where the viability of operating a store in a rural area is called into question. This is something that we'll try and find an optimal solution to with Ossinovski, and I know that other ministers still have questions as well," the minister said.


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