|WEEK 26th 2003
Friday, 27th of June, 2003
Helenius to invest into successful cannery
At the time, when Estonian fish canneries are laying off employees and reducing output, Scandinavian investors invested EEK 37.5 million to OÐ Vettel that manufactures fish filet. Joakim Helenius, an investment banker who mediated the deal said that Vettel was very successful, although the times are not the best in fish industry. In three years, Vettel managed to increase turnover by ten times up to EEK 169 million. Helenius admitted that the financial investment was a long-term investment.
Thursday, 26th of June, 2003
Foreign money for EEK 133 billion in Estonia
By the end of the first quarter of 2003, foreign investments to Estonia since the beginning of independency in 1991 amounted to EEK 133.5 billion. According to the Bank of Estonia, direct foreign investments totaled EEK 67.1 billion. 66% of direct foreign investments have come from Sweden (38%) and Finland (28%).
Estonian companies had invested EEK 66 billion abroad. Over 70% of investments made by Estonian companies abroad were made to other Baltic countries: Lithuania (42%) and Latvia (30%).
Baltic Weekly MonitorA