Reviving Eastern Finland’s Economy: A Call for Collaboration and Special Economic Zones Amidst Sanctions

The EU’s assistance is crucial for Eastern Finland

The Russian war of aggression has severely impacted Eastern Finland’s economy, especially with the complete closure of the Russian border. Despite the strong desire and faith of Eastern Finland’s companies, the state of Finland’s public finances necessitate a realistic approach to revive the region’s economy and vitality.

Harry Broman, Chairman of the Finnish Confederation of Business and Industry (EK), has proposed a list of recommendations to enable Eastern Finland to thrive. Broman emphasizes the seriousness of the situation in Eastern Finland, calling for cooperation between public authorities and business organizations to create a healthy, growing economy that contributes to national GDP.

One recommendation is to designate Eastern Finland as a special economic zone to facilitate growth and development in the region. The implementation of such a zone would focus on accelerating business activities, creating job opportunities, and attracting foreign investment.

Broman also highlights the need for improving air connections to Eastern Finland, increasing investments in tourism, implementing a broadband program, and providing support for companies experiencing growth, skills shortages, and changes in ownership. The EU’s solidarity is also called upon to support Russia’s neighboring countries that are facing significant challenges due to the crisis.

Despite the optimism of Eastern Finland’s companies, the difficult financial situation of Finland underscores the need for a realistic approach. Collaboration between public and private sectors is essential to drive growth and sustainability in Eastern Finland while maintaining economic viability in security considerations.

In conclusion, reviving Eastern Finland’s economy requires cooperation between public authorities and business organizations. A special economic zone can help accelerate business activities while addressing job creation and foreign investment opportunities. Improving air connections, increasing investments in tourism, implementing broadband programs, supporting companies undergoing growth or change ownership are crucial recommendations that will contribute positively towards national GDP while maintaining financial viability in security considerations.

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