Socioeconomic Development Mechanisms in the Arctic Macroregion

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Presentation transcript:

Socioeconomic Development Mechanisms in the Arctic Macroregion CEO Timo Rautajoki, Arkhangelsk 29.3.2017

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Business in European Arctic 2017 Economic crisis seems to be over, raw material and oil prices slightly recovering Rapid development in Forest industry, Bioproduction and tourism Investment projects seem to recover slowly - Reopening of closed mines, tourism investments Economic growth has been strong in the northernmost part of Sweden and Finland, Northern Norway business as usual, Noth west Russia recovering, new investment plans in Murmansk and Arkhangelsk Region Lapland - example of new growth - Tourism, growth 2016 +13%, international tourists +18%, January 2017 +40%!!!! - All branches of business doing better than in 2008 when economic crisis started More direct flights from Europe to Rovaniemi, Kittilä and Ivalo Lack of skilled labour

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Risks still exist Political crisis comes to the Arctic Environmental and human disasters – refugees, asylum seekers Media hype of disappointments, arctic oil, nature over protection Raw material and oil prices – demand? Political will starts to decrease – no funding Arctic institutions remain too weak

Big need for crossborder and International cooperation All crisis have decreased cooperation last years ENI kolarctic program has started and it can stimulate business cooperation structures Visit Arctic Europe is good example Tourism cooperation in Lapland, Norrbotten and Northern Norway InterregNord project 6,4 m€ Joint development, sales, marketing and promoting Mining industry and technology, forest industry, bioproduction and energy could be similar also transport connections and logistics Finnish -Russian cooperation could be base for International cooperation Murmansk Region in. Mining Arkhangelsk Region bioproduction Pyhäjoki nuclear power plant, Fennovoima/Rosatom Finnish Russian Arctic Partnership, Northern Forum , conference and exhibitions,

arcticbusinessforum.com Esityksen nimi • Tekijän nimi 31.08.15 •