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Doing Business in Estonia Wednesday 2 nd October 2013

Doing Business in Estonia Wednesday 2 nd October 2013. Innovation and Manufacturing . Wednesday, 2October, 13. Who we are . David Clark CEO - Laser Diagnostic Instruments . Leo O Neill CEO - HML Project Management . OUR PRODUCTS Spectral Fluorescence Signatures (SFS). OUR PRODUCTS

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Doing Business in Estonia Wednesday 2 nd October 2013

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  1. Doing Business in Estonia Wednesday 2ndOctober 2013

  2. Innovation and Manufacturing

    Wednesday, 2October, 13
  3. Who we are David Clark CEO- Laser Diagnostic Instruments Leo O Neill CEO- HML Project Management
  4. OUR PRODUCTS Spectral Fluorescence Signatures (SFS)
  5. OUR PRODUCTS Laser Induced Fluorescence LIDAR technology
  6. OUR PRODUCTS Laser Induced Fluorescence LIDAR technology
  7. International Client base: Microsoft Cisco Systems Allianz Real estate Germany European Parliament CBRE
  8. Overview Statistics – Production and Trade Business climate – from a Manufacturing perspective Political, Labour law, logistics Innovation Major sectors - examples
  9. Statistics Lets get them out of the way first!
  10. Production and Growth
  11. GDP by economic activity 2012
  12. Manufacturing Growth Source: Statistics Estonia 2013
  13. Manufacturing Growth Source: Statistics Estonia 2013
  14. Logistics & Trade From a Manufacturing Perspective
  15. Location 2 International Airports SAS, Lufthansa, Estonian Air, Finnair, Easyjet, Air Baltic Ryanair Global connections via Coppenhagen, Stockholm, Helsinki, Frankfurt and Munich Tallinn Passenger port – 90 min Helsinki, Stockholm overnight
  16. Logistical Hub Population within: - 24 hours of Tallinn = 90 million 48 hours of Tallinn = 100 million 72 hours of Tallinn = 450 million Ports: Port of Tallinn, largest and deepest (18m) in Baltic Sea Ice free Sillamäe – Eastern most port in EU Rail: common gauge with Russia, Central Asia and onwards, RailBaltic
  17. Estonian Trade Trade 2012 Per capita: Estonia Ireland - Imports around same level, Exports half. Greater than UK per capita in both Export and Import
  18. Top Exports and Imports 2o12 Exports Import Machinery and equipment 3,920 Mineral Products 2,140 Agricultural 1,360 Transport equipment 1270 Chemicals 1,130 Machinery and equipment 3,590 million euros Mineral Products 1,870 Agricultural 1,170 Metals 1,040 Wood products 930
  19. Trade UK Main export articles to GB & Northern Ireland 2012: Main import articles from GB & Northern Ireland 2012: Machinery and equipment – 57% Food, drinks, tobacco - 16% Transport vehicles - 7% Mineral products – 4% Wood and wood products, wood coal – 20% Machinery and equipment - 19% Other manufactured goods (pillows, blankets, furniture) - 17% Mineral products (fuel oil, peat) - 14% Precious metals - 5%
  20. Trade Ireland Main export articles to Ireland 2012: Main import articles from Ireland 2012: Machinery and equipment  – 42.6% Prepared food products and beverages – 25.3% Chemical products – 17.4%. Food products (wheat) – 59.5% Wood and wood products –15.9% Chemical products – 5.7%.
  21. Business Climate From a Manufacturing Perspective
  22. Cultural Proximity Business Culture English is the 2nd foreign language after Russian All law translated in English by 2015 Similar legal, accounting systems to UK Plain Speaking, being frank (May I say this is not so with Estonians) Honesty Flat Hierarchy Keeping Time (May I say again this is not so for our counterparts)
  23. Observations Positive attitudetowards international companies Position betweennational and international companies is equal Localproudnessfor big and medium sizecompanies Localentrepeneurship is high Positive futureoutlook
  24. Observations Oftenlocalcompaniesarelackingethicalcodeofconduct Foreigncompanies has brought in a lotofbehaviourmodels The attitudetowards Finland is positive and negative Don’tlike to be the littlebrother Estonianslearn fast and in many areas alreadyworldclassmakers
  25. Recent Development Economic growth has been positive almost all the time 1997 the Russian crise affected Estonia 2008 the new crise appeared Today it is more and less stable Some risk for over heating exist Lack of specialists in some areas (IT) Risk for cost growth (salaries) Political populism
  26. Comparison of Labour Market
  27. European Vs Baltic Markets Baltic market expected to grow despite European standstill
  28. Innovation
  29. Innovation More VC investment per capita in 2013 than UK Estonia one place behind Ireland in Community Innovation Survey 2010 (7thplace) 2 Universities in Global top 500 Rapidly Growing Biotech Sector
  30. Innovation
  31. Success Stories
  32. Mining Industry Opportunity Rare metals for hi-tech: Silmet acquired by Molycorp 2011 (3% of global rare earth metal production) Oil shale mining/extraction Enefit (largest privately owned oil shale in utah Also: Metal construction and antennas for ground stations for satellite communications - Vertex & General Dynamics
  33. Education - Lack of Middle/Senior Management Engineers Skilled operators and technicians Leading in IT Specialists Arts & Culture
  34. Education priorities and needs for the Industry Management Engineering as bachelor/master as higher education Business administration as second education Engineers Application engineering, software development, electrical design, mechanical design, electronics design, testing, project management Skilled operators and technicians Technical professional education
  35. Employment Division
  36. Engineering capacity Population of Baltic Countries Baltic's total6,8 m Estonia 1,34 m Latvia 2,2 m Lithuania 3,23 m Yearly graduates in IT, Power engineering, Mechanical engineering 4 universities: Tallinn University of Technology, Riga Technical University, Kaunas Technology University, Vilnius Gediminas Technical University Estonia Latvia Lithuania Bachelor degree 358 659 754 Master degree 247 307 374
  37. Estonian Partnerships Northern Ireland & Ireland Success stories in Estonia
  38. CRH Group Ireland
  39. What is needed now? Stable and solid politics Balanced state budget Border agreement with Russia More effective taxation system Less tax on labor work Education system to be re-organized
  40. Key Takeaways Doorstep to wealthy Nordic/Scandinavian countries (logistics, costs) Most Western mind set of former-USSR, easiest access to Russia More high skilled labour, management, international experience required Industry needs a louder voice of support from government Planning today for the next 2o+ years of Estonian Republic
  41. Doing Business in Estonia Wednesday 2ndOctober 2013
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