Estonia, Financial Services, Investments

Juhan Parts.

The minister emphasised that potential investors need to be treated much better than during the boom. “Those who are serious (about investing) have accepted that Estonia’s financial position is completely normal,” said Parts. He added that another matter of interest for investors is the ability to demonstrate certain stability about the entrepreneurial environment and to show that the labour market has a completely new set of rules.

According to Parts, employers can be much more confident in employing new people as they do not have to fear major expenses. He estimated that Estonia’s new Labour Contract Act is one of the best ones in terms of creating new jobs and incentivising entrepreneurs and this has to be taken advantage.

Estonia currently has 75,000 available employees to offer and Parts explained that the country cannot rely on foreign investors alone. He said that two years ago, the biggest problem for foreign investors as well as Estonian entrepreneurs was that there was not enough labour market here, but today the situation is the opposite.