TALLINN - The Estonian government approved on Oct. 22 Economy Minister Juhan Parts's strategic action plan 'Made in Estonia,' which has been developed to promote the internationalization and export capabilities of Estonian companies over the next three years, reports news agency LETA. The action plan includes a list of activities that are important for increasing foreign investments into the country.
The most important initiatives on the list include creating a service package for foreign investors; using a sector-based approach in attracting foreign investments; finding the best tax policies necessary for raising the competitive capabilities from investments; increasing direct flight connections to the country; creating local supply chains from which international concerns, already located in Estonia, will be able to locate Estonian suppliers; replacing imports with domestic production.
The state export and foreign investments action plan designers include the Economy and Communications Ministry, Foreign Ministry, Finance Ministry, Social Ministry, Education and Science Ministry, Environment Ministry, State Chancellery, Enterprise Estonia, KredEx and the Development Fund.
The strategy will be financed from the state budget, EU structural funds and other sources.