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Finland Considered As Nordic Business

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Finland Considered As Nordic Business ISSUE 38 (70) • 3 – 9 OCTOBER 2008 • €3 • WWW.HELSINKITIMES.FI DOMESTIC BUSINESS TRAVEL SPORT Nimby: Finnish green Rovaniemi: Honka ready localism or technology Magic of the to challenge elitism? upstarts north Inter page 3 page 10 pages 12-14 page 15 ILKKA RIIHONEN ILKKA RIIHONEN Global financial crisis reaches Finland DAVID J. CORD bal liquidity cannot be avoided, HELSINKI TIMES however. Finnish businesses and consumers WITH the bailout of Glitnir Bank the must now deal with the fact that loans long-lasting fi nancial crisis has fi - will probably be harder to obtain and nally reached Finland. The turmoil more expensive through higher inter- began with securities tied to sub- est rates. Finnish investors have had prime mortgages and morphed into the value of their portfolios plummet. a lack of confi dence in the banking The real estate market is stagnating sector. Then the fear spread to stock as well, and Housing Minister Jan Va- markets, sending the OMX Helsinki paavuori has tried to reassure wor- index plummeting along with the ried home owners. rest of the world markets. It is down Now all eyes are on the US Con- 34 per cent so far this year. gress, hoping that an agreement for A number of institutions in both a rescue plan can be reached. Both Europe and America have gone Prime Minister Matti Vanhanen bankrupt, been nationalised or and Finance Minister Jyrki Katai- been bought at fi re sale prices by nen expressed their concern that larger rivals. Central banks around the original legislation failed in the the world have stepped in to lend US House of Representatives. billions of euros to banks who are If the American legislators reach a unwilling to lend to one another. deal, confi dence should be restored to Tuomo Airaksinen (left), CEO of Invest in Finland and Austin Browne (right), Commercial Director at the Commonwealth Generally, Finnish banks and global markets, including Finland. If Business Council, spoke at the BCCCF seminar, which was held on 30 September in Helsinki. companies have not had the prob- they fail to come to a defi nitive rescue lems of fi nancing as their Conti- plan it is likely that institutions in Fin- nental or US counterparts. The land will continue to struggle with the job losses in fi nancial centres such global money markets. If the slow- as London and New York have down hits the important export mar- Finland considered not come to Finland. Lack of glo- ket, domestic jobs may be at risk. as Nordic business hub HEIKKI RAUTVUORI throughout the Commonwealth ed that “joining or partnering with Domestic economy HELSINKI TIMES nations, big and small." BCCCF is a positive way for Finnish Pekka Huhtaniemi, Under-Sec- enterprises to fi nd the right business needs foreign workforce A NEW network for trade and in- retary of State at Finland's Foreign partner or opportunity in any mem- vestment activities between the Ministry, said that "there is room ber country, and be part of a lively DAVID J. CORD not all immigrants enter the work Commonwealth countries and Fin- for developing new activities for network, with one business language HELSINKI TIMES force. A portion of them stay at land has been launched. The Brit- business between Finland and the that we Finns can handle.” home to raise families or study in- ish & Commonwealth Chamber of Commonwealth countries." Other issues that were discussed FINLAND has a top-heavy popula- stead of working. Although the cur- Commerce in Finland (BCCCF) will The BCCCF is lead by Garry Park- at the seminar included howto bring tion. Over the next fi ve years about rent level of immigration helps with work for more business opportuni- er, founder Chairman of the organi- Finnish enterprise to the Common- 375,000 Finns will reach retirement the labour problem, Finland actually ties for Finnish companies and for sation. "Finland can act as the hub for wealth nations and vice versa. age but only 325,000 youngsters needs even more foreign workers. enterprises from other Nordic and businesses between Nordic and Baltic Questions such as tackling business will reach working age. The only The demand for migrants to re- Baltic countries in the Common- countries. Even if the main purpose corruption and cultural differences way Finnish companies can replace place retiring Finns is high now and is wealth markets. It is the fi rst cham- for our organisation is to promote were dealt with. these 50,000 pensioners is by hiring only expected to increase. Over time ber of commerce working across the business opportunities between Fin- foreigners. growing Finnish companies do not on- Commonwealth. land and the Commonwealth, BCCCF Luckily many of these retiring ly need to replace retirees; they also BCCCF, which held its launch will also be working for the whole Nor- The British & Commonwealth Finns are being replaced by immi- need more labour for their expansion. seminar in Hanasaari, Espoo on dic and Baltic Region from Helsinki." Chamber of Commerce in Finland grants. Statistics Finland announced Immigrants are also bringing Tuesday, is the world’s only cham- The Commonwealth nations rep- www.bcccf.fi. that Finland had 13,600 net immi- other advantages to companies. The ber of commerce working with all resent 30 per cent of the world’s pop- Next open event grants last year and hopes for at least largest Finnish companies have the 53 Commonwealth countries. Aus- ulation, sharing the English language on 31 October 2008 in Helsinki. 10,000 more each year in the future. vast majority of their sales origi- tin Browne, Commercial Director and legal frameworks, something “Country Focus on Trade with With 10,000 net retirements a nate from abroad, and a foreign at the Commonwealth Business that makes it easier for Finnish en- Canada” with the Canadian Trade year and 10,000 net immigrants, a workforce helps cultivate the mod- Council in London, welcomed the terprises to enter new markets. Har- Commission and the Vancouver casual glance would think that the ern and cosmopolitan reputation of BCCCF and noted that "this initia- ri Pärssinen, CEO of Ernst & Young Winter Olympic Delegation. problem is solved. Unfortunately these international fi rms. tive is needed to promote business and BCCCF Vice Chairman, conclud- 2 3 – 9 OCTOBER 2008 VIEWPOINT HELSINKI TIMES JONATHAN HADLEY is a former British police officer. He served with the Essex Police from 1985 until coming to Finland in 2002 with his Finnish wife and family. He obtained his PhD in sociolo- gy from Goldsmiths College, London, in 2005. He is currently a re- search fellow at the Police College of Finland on a postdoctoral grant from the Academy of Finland. He will be transferring to the University of Helsinki’s Sociology Department for 2009 to further his current research on private security. “Show a good reason”: Key elements of stricter gun laws apply, would not be criticised unable to suspend his licence for seizing all such fi rearms there and then and immedi- The government proposes tighter legislation in the wake of last week’s school shootings in and ammunition as a pre- ately seize his fi rearms and Kauhajoki and those of less than a year ago in Jokela. As a former British police officer serv- cautionary measure pending ammunition as a precau- ing during the 1980s and 1990s, I am reminded of the stricter gun laws two similar incidents a report requesting a formal tionary measure on that ba- revocation notice. Impor- sis. This is regardless of the in the UK caused to be introduced, and my own experience of using them. tantly, there does not have to fact that they had no legal be evidence of any particular grounds to hold him further offence: just enough infor- for any particular offence. IN 1987, in an English town THE KEY element in the appli- service record would also be quire the prior conviction of mation to reasonably doubt called Hungerford, 22-year- cation process is the subjec- included here regarding any an offence. Nor does it re- the trustworthiness of the INTERNET sources suggest old fi rearms licence holder tive burden on the applicant negative assessment as to quire a substantial level of holder to use the fi rearms re- that an applicant’s suitability Michael Ryan dressed him- to ‘show good reason’ for trustworthiness with fi re- objective proof. Within a cer- sponsibly – that he is unfi t to of character for a fi rearm li- self in combat fatigues one wanting to possess, acquire arms. In this case the Finn- tain frame of reasoning laid be entrusted with a fi rearm. cence in Finland is considered morning. Then, armed with or purchase each of the spe- ish military possesses an down in the law, the offi cer’s on the basis of their behav- an AK-47, a Beretta handgun cifi c fi rearms applied for in ‘E-list’ of people unfi t for professional judgement is I HAVE personal knowledge of iour as well as their health. If and an M1 carbine, he calm- the fi rst place. That includes service. Kauhajoki gunman enough to suspend a licence such a case. In 1992 police were so, it would then make sense ly walked through the high the quantity of ammunition Matti Saari appears to have there and then and seize the called to the home of a regis- to ensure that the fi eld of- street killing 16 people and to be held at any one time. In been on this list. arms and ammunition it re- tered fi rearms holder in his fi cers have the power to sus- wounding 15 others before other words, it is for the ap- lates to pending the hold- 40s over a domestic argument pend a licence if they feel shooting himself dead.
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