Government approves Estonia’s investment protection action plan proposed by the Ministry of Foreign Affairs

On 6 May, the government approved the investment protection action plan for 2021-2030 proposed by the Ministry of Foreign Affairs.

The action plan is a strategy document setting out the objectives and international actions in the field of investment protection for the next ten years. The action plan is based on one of the main objectives of Estonia's Foreign Policy Strategy 2030, strengthening foreign trade policy, and an objective of the long-term strategy Estonia 2035 - a strong, innovative and responsible economy.

'Foreign investments are an important prerequisite for economic development and this requires a favourable and reliable international environment for Estonian companies. This includes investment protection agreements with the main economic partners of interest. These agreements ensure the protection of the investments of Estonian companies in focus countries and provide the same protection to foreign investors in Estonia,' Foreign Minister Eva-Maria Liimets said.

'Countries outside the European Union may lack legal clarity and in view of the ambition of Estonian companies to seek new, more distant markets, it is crucial to ensure these companies have a mechanism for settling potential disputes with focus countries,' the minister added.

The broader aim of the action plan is to implement a comprehensive and purposeful foreign policy of investment protection. Priority actions and partner countries were mapped for this purpose. Bilateral agreements reinforce Estonia's business diplomacy network and they have a positive effect on foreign policy dialogue in general. Priority countries were selected based on foreign policy and regional objectives, the interest of entrepreneurs, the volume of direct investments and foreign trade interests.

The benefits of foreign investments made in Estonia are expressed in general economic growth, the uptake of innovative technologies, and gaining additional expertise. Foreign investments are also creating new jobs with high added value and salaries. Potential foreign investors value a favourable business environment, the possibility of building infrastructure and countries that are willing to offer active assistance to investors with various questions and issues.

Additional information:
Ministry of Foreign Affairs of Estonia
Communication Department
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