Russian War Cripples Eastern Finland’s Economy: EK Proposes Special Economic Zone to Revive the Region

The EU’s assistance is crucial for Eastern Finland

Eastern Finland is facing a significant challenge due to the Russian war of aggression, which has had a major impact on the region’s economy. The complete closure of the Russian border has made it difficult for businesses in the area to operate, and this has led to a decline in economic activity.

To address this situation, the Finnish Confederation of Business and Industry (EK) has proposed a set of recommendations to help revive the economy and vitality of Eastern Finland. One of the key proposals is to designate Eastern Finland as a special economic zone, which would provide incentives for businesses to invest and grow in the region.

Harry Broman, Chairman of EK, emphasizes the need for cooperation between public authorities and business organizations if Eastern Finland is to thrive. He believes that by implementing a special economic zone, businesses will be encouraged to accelerate their activities and create a healthy, growing economy that contributes positively to national GDP.

The recommendations include improving air connections to Eastern Finland, increasing investments in tourism, implementing a broadband program, and providing support for companies experiencing growth, skills shortages, or changes in ownership. In addition, EK calls on the EU’s solidarity to support Russia’s neighboring countries as they face significant challenges due to the crisis.

While there is strong determination and optimism among Eastern Finland’s companies, Broman recognizes that financial constraints make it necessary for them to take a realistic approach. The prospect of resuming normal trade relations with Russia remains uncertain, and maintaining viability in the region requires both economic and security considerations. Collaboration between public and private sectors is crucial if Eastern Finland is to grow sustainably over time.

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