Ansip: exit of foreign investors is not a problem

06.12.2013, 11:06

Prime Minister Andrus Ansip believes that there is no reason to be concerned about the exit of multinational corporations from Estonia because Estonia is attracting more foreign investments than losing them.

Ansip said that, among Baltic countries, Estonia was attracting more foreign investments as percentage of GDP than Latvia and Lithuania: while direct foreign investments are about 86% of GDP in Estonia, the percentage in Latvia is a little over 40% and in Lithuania a little less than 40%.

“I don’t think we should be worried about this, we are attracting more foreign investments than what are leaving Estonia,” said Ansip.

The PM was commenting the opinion article of Hans H. Luik, owner of Ekspress Grupp that publishes Eesti Ekspress weekly, who wrote last week that a notable number of foreign multinationals including Schibsted, Dalkia, Finnish company Kirjakauppa and German energy giant E.ON have already left Estonia or are in the processs of doing so. Most recently, Scandinavian construction group Skanska said it was pulling out.