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Timo Harakka argues that Finland’s interests are not being pushed into a corner by nagging, but rather by making bold openings for the future of Europe. The EU is freeing up state subsidies and creating joint responsibility funds under the guise of successive crises, leading to publicly financed “industrial policy” for years to come. This shift in the EU’s stance towards more state intervention has caused concern among Finnish businesses, who fear losing out on competitive advantages in key industries.
The Central Confederation of Business (EK) has called for a reflection of Finland’s EU guidelines in light of the changed situation. Germany and France dominate EU state aid, with Germany committing significant funds to boost its industry compared to Finland’s smaller investments.
To address this competitive situation, Finland is exploring its industrial policy alternatives, including a high-tech export support instrument proposed by the Ministry of Transport and Communications and the Ministry of Foreign Affairs. This instrument aims to benefit Finnish companies and strengthen Europe’s global position against competitors like China.
The focus is on protecting critical technologies and ensuring competitive financing terms for EU-acquired technologies. Finland’s expertise in efficient data processing and data transfer could benefit from EU-level support for future technologies. It is essential for Finland to take bold steps towards securing its competitive edge in the ever-evolving global market.
In conclusion, Finland must respond to this challenge as it risks losing out on competitive advantages in key industries. The country must explore new industrial policy alternatives that will help it maintain its position as a leading player in the European Union. With the right approach, Finland can protect its critical technologies and ensure that its businesses have access to the resources they need to compete globally.
