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Eastern European Markets

NEWS RELEASE
September, the 10th 2009

Russia is still an opportunity for the Finnish construction industry

The construction and construction material industry market is still growing in Russia. This means incredible potential for Finnish companies close to home. A study conducted by Finpro and Tekes shows that cooperation could make it much easier to operate in the challenging Russian market.

The financial crisis has halted half of the construction projects in Russia, which among other things will lead to a huge shortage of housing in the next two years. The Russian government has promised to put hundreds of billions of euros into a structural change in housing and construction projects.

- Because the subsidies are primarily aimed at Russian companies, Finnish companies need Russian partners in order to enter the market. Finnish companies also have to cooperate more with each other regarding sales and distribution of products and services, says Daria Ivanova, Consultant at Finpro Saint-Petersburg.

The demand in Russia is for single-family houses and for the construction of new and renovation of existing apartment buildings. Finnish strengths lie in know-how, construction technology, and environmental planning.

- The growing quality awareness of consumers and energy efficiency and ecological requirements give Finnish high technology expertise a competitive edge, continues Ivanova.

The results of the Russian housing and construction materials opportunities study will be presented in more detail at events scheduled for September 24 in Oulu and October 19 in Helsinki.

About Finpro:
Finpro is a globally operating expert network for promoting the internationalization of Finnish companies. Finpro employs more than 300 people in 60 offices in over 40 countries and offers expertise and services in all the phases of business internationalization. Our added value for promoting and developing competitive edge in Finnish industries and businesses includes branch know-how, market expertise, good global and local networks and our ability to predict and understand future business opportunities.

About Tekes:
Tekes finances and boosts challenging research and development projects and innovation activities at companies, universities and research institutes. Tekes also finances development projects related to the internationalisation of companies.

Sources of further information:
Virpi Herranen, Head of Trade Center
Finpro St. Petersburg, tel. +7 921 942 1216 or +358 400 788 957
Daria Ivanova, Consultant,
Finpro St. Petersburg, tel. +7 921 405 88 03 (in English)
Reijo Kangas, Director, Real Estate and Construction Industry, Tekes, tel. +358 5055 778 92

www.finpro.com

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