2-2 future direction of estonian economy?...future direction of estonian economy? エストニア...
TRANSCRIPT
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Future direction of Estonian economy?
エストニアアリキヴィ氏
(セッション2-2)
Estonian economy?Raul AllikiviHead of Economic Policy DivisionMinistry of Economic Affairs and Communications
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Business climate maintains its competitivenesscompetitiveness
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Macroeconomic framework• Liberal trade and price policy• Fixed exchange rate system, adpotion of
euro by 2011• No restrictions to the free movement of • No restrictions to the free movement of
capital• Return to balanced budgets of central
government• Conservative foreign borrowing policy• Simple and proportional tax system,
reducing taxes on labor
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Taxes in Estonia
20%
20%
13%
0%
social insurance
vat
health insurance
corporate income tax *
21%
21%
20%
0% 5% 10% 15% 20% 25%
individual income tax
tax on dividends
social insurance
unemployment insurance 1.4 (employer)2.8 (employee)
* no corporate income tax on reinvested earnings
Source: Enterprise Estonia
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Index of EconomicFreedom Ranking
2004 2005 2006 2007 2008 2009Hong Kong 1 1 1 1 1 1Singapore 2 2 2 2 2 2United Kingdom 7 7 5 6 10 10Ireland 5 5-6 3 7 3 4Ireland 5 5-6 3 7 3 4Luxembourg 4 3 4 8 15 15Estonia 6 4 7 12 12 13Denmark 8 8 8 13 11 8Finland 15 15 12 16 16 17Sweden 12 14 19 21 27 26Lithuania 23 23 23 22 26 30Latvia 28 39 41 38 45
Source: Wall Street Journal The Heritage Foundation
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GDP by Sectors in Estonia in 2008
Source: Statistical Office of Estonia
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Current strengthsCurrent strengths
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Home of IT innovators
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NATURAL RESOURCES
TIMBER
2 mln ha, 48% of Estonia covered by forest
Wood-processing industry is the Wood-processing industry is the second largest manufacturing sector (15% of the total industrial output)
• Forest resources 353 mln m3 / Annual increment 10 mln m3
Closely connected to Scandinavian forestry companies
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OIL SHALE» Reserves ca 1.8 billion tons
– Annual production» production 14 mln tons » 80% for electricity » ALSO » ALSO
Shale oils and fuel oilsBitumens, coke, pitchPhenols and phenolic compounds
VKG http://www.vkg.ee- one of the leading shale oil producers in the world- processes 1.4 million tonnes of oil shale a year
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logistics/distribution/manufacturing
• Port of Tallinn www.portoftallinn.com
– four harbours, 607 ha + 1000 ha aquatory
– industrial park: 75 ha, for leasehold
• Port of Sillamäe www.silport.ee
– railway station with 18 tracks (incl: 5 x 1,5 km)
– 600 ha of hinterland terminals in the Free Zone area
• Estonian Railways www.evr.ee
• Tallink (passenger & cargo shipping)
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E-country
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information society indicators
Mobile phones penetration -
116%
Home PC penetration - 76%
Business Online - 92%
Financial Transactions Online –
98%
Schools Online - 100%
Government Online - 100%
New human right in Estonia: access to wireless internet
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Estonia: a Great Test Market for New Technologies
• e-elections (local 2005 and 2009, national 2007, European Parliament 2009)• e-government project (august 2000)• e-tax board - income tax
statements can be filled out statements can be filled out via internet (spring 2001)
• digital signature act came into force (december 2000)
• 98% electronic transactions, 109% internet banking penetration (sept 2007)
• e-billing (july 2000)• world´s first MPS project for society (may 3, 2000)• mobile parking (july 1, 2000)
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Key focus areas in ICT• E-services
– E-Health, E-Taxboard, E-School etc.• R&D in ICT
– IT Academy
• Security and fraud detection– NATO Center of Excellence in Tallinn from 2008
• Shared services
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TRANSIT & LOGISTICS
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HelsinkiHelsinki--80km80kmStPeterburgStPeterburg--355km355km
Riga Riga –– 308 km308 km Moscow Moscow –– 1044km1044km
Minsk Minsk –– 620 km620 km
Stockholm Stockholm ––375 km375 km
Estonia is well positionedas a gateway
• All regional centers are at 24h reach
• Estonia is well connected with
Vilnius Vilnius –– 600 km600 km
Kiev Kiev –– 1269 km1269 km
• Estonia is well connected with all of these centers via sea, rail and road network
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Source: Swedish Meteorological and Hydrological Institute 06.03.2006
Ice situation in Gulf of Finland
Ice situation in Gulf of Finland
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DevelopmentDevelopment plansplans inin Muuga Muuga HarborHarbor 20082008--20112011
320m/320m/--14,5m14,5m
320m/320m/--16m16m
1260m/1260m/--16m16m
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Development of Muuga Harbour
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Focus on Asian markets: direct containerline development already under way with
Chinese
Focus on Asian markets: direct containerline development already under way with
Chinese
NingboNingbo
TallinnTallinn
NingboNingbo
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INDUSTRIES
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Innovation: GOOD
PRACTICES• Competence centres• R&D projects support • R&D projects support
program• Clusters• Innovation vouchers• Technology
investments
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Horisontal direction for industries• Environment
– Cleantech, energy, environmental technologiestechnologies
• Aging society– Welfare, medical products
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Interesting facts:
• Estonia is an associated member of European Space Agency (ESA) from 2009
• There are 8 Technology Competence Centers in Estonia, funded by government (similar to Japanese cluster initiative)
• Estonia is expected to join OECD in 2010
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Estonia and Japan: economic relations
• Current level rather low, however - high potential
Japanese investments in St. Petersburg area Japanese investments in St. Petersburg area industrial areas/parks in Ida-Virumaa (Estonia) only 150
km away servicing transportation needs through Estonian ports
ICT: e-government and security issues
→ Need for governments to lay the contractual ground for further developments