Background information

The activities target potential foreign investors. Foreign investments help to diversify the Estonian economy, open new export markets and bring new knowledge to Estonia while allowing the creation of new companies and jobs. Internationalisation activities have been conducted since the establishment of the Estonian Foreign Investment Agency in 1994 by the Estonian Government. It has since been reorganised under Enterprise Estonia in 2000 and Estonian Business and Innovation Agency in 2022. The activities of the Agency are set in their statute.

Content of measure

The purpose of the internationalisation activities is to attract potential investors (to invest in already functional company or to start new businesses) in Estonia. The services include sharing/matching information about available possibilities to Estonian companies looking for investors and investors looking for opportunities.

Estonian Business and Innovation Agency has divisions in the following countries: Finland, Sweden, Germany, UK, Norway, Denmark, the Netherlands, France, Russia, India, Japan, China, and USA. The main aim is to develop the reputation of Estonia in these countries. Part of the work is to attract foreign investments into Estonia by organising events for potential investors in order to promote Estonia, to introduce the business opportunities and to establish business contacts. Some examples of the reputation-raising activities include advertisements in foreign press, organised visits for journalists, trade fairs, info days and presentations at seminars. Also, more specific information is provided to foreign investors through consultation, for example by putting the investors in contact with Estonian companies, introducing how and where to find information about business possibilities, and address all questions they might have.

Potential investors are also served through a website ( Invest in Estonia providing the information needed for potential investors, for example information about entrepreneurship in Estonia, services and support measures, tax system, legal framework, business environment, labour market, etc. This helps to expand business or internationalise companies by offering all the necessary information for potential investors at once.

A dedicated center called e-Estonia Briefing Centre  has been established, which introduces foreign guests to the success story of e-Estonia, e-solutions, the ICT sector and cooperation opportunities with local companies and experts behind successful e-solutions.

A website  Work in Estonia for foreigners interested in working in Estonia or employers interested in hiring foreign specialists has also been launched. The aim is to introduce Estonia as an attractive country for working especially in ICT and engineering sectors. It gives information about working in Estonia, hiring foreigners and allows publishing job vacancies for free. In principle, it should become a one-stop-shop for investors, making all the relevant information and opportunities available.

Use of measure

In 2019:

• Goal: €200 million and 1,000 jobs
• Result: €235 million and 1,241 jobs

In 2020:

• Goal: €151 million and 1,000 jobs
• Result: €160 million and 807 jobs

In 2021:

• Goal: €163 million and 1,000 jobs
• Result: €194 million and 1,617 jobs

Target groups

Workers	Businesses	Citizens
Other groups of workers	Other businesses	Does not apply to citizens

Actors and funding

Actors	Funding
National government Other social actors (e.g. NGOs)	National funds

Social partners

Social partners' role in designing the measure and form of involvement:

	Trade unions	Employers' organisations
Role	Unknown	Unknown
Form	Not applicable	Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

• Unknown
• Main level of involvement: Unknown

Involvement

Unknown

Views and reactions

Unknown

Sources

• 26 May 1994: Eesti Välisinvesteeringute Agentuuri asutamine (The establishment of the Estonian Foreign Investment Agency) (www.riigiteataja.ee)
• 01 June 2020: Strategic Activity Plan of Enterprise Estonia for 2019-2023 (www.eas.ee)
• 01 April 2022: EAS 2021. a tegevusaruanne (Enterprise Estonia annual activity report 2021) (eas.ee)
• 06 July 2022: Ettevõtluse ja Innovatsiooni Sihtasutuse põhikiri (The statute of the Estonian Business and Innovation Agency) (eas.ee)