Finland proposing energy safety and transport improvements to European investment programme
Finland is focusing on four areas of development in an investment programme initiated by the European Commission. The project proposals include a regional LNG terminal and a fast railway connection between Helsinki and Turku.
The European Commission has proposed a EUR 300 million investment programme to boost economic growth and European competitiveness. The greatest needs relate to infrastructure and to better funding of SMEs. The investment programme is being prepared by a task force led by the European Investment Bank.
Member State representatives have been requested to provide proposals for projects to be included in the EU investment programme. The Finnish Government's EU Ministerial Committee listed Finland's objectives on 14 November. The Government focuses on four issues, the first of which is a European-wide system of business-friendly e-government to promote real-time economy within the EU. This would foster cross-border trade, reduce administration and improve the regulatory environment of European businesses.
The other three are national and regional initiatives significant for Europe in terms of energy safety and renewable energy, growth potential of key sectors, and key transport connections.
1. Energy safety and renewable energy
The main project is a regional liquefied natural gas (LNG) terminal in Finland that improves energy security, combined with better energy security and cooperation in terms of competition with Estonia. Estonia is currently also working on an LNG terminal, albeit smaller.
Finland will also propose to the Swedish authorities that an electricity gridline be created between Finland and northern Sweden.
Finland wants to promote two initiatives in terms of renewable energy production and storage: an integrated smart energy concept for intermittent energy production and storage, and a wind park in the Baltic Sea.
2. Growth potential of key sectors
The initiative proposes a network to be created for the industrial internet. The idea is to promote a new "all internet" pilot network to be used in Finland by industry. The new pilot environment will be built in key university cities: Oulu, Tampere, Espoo and Lappeenranta.
A digital infrastructure ecosystem for automated vehicles (smart traffic) is proposed to manage high data volumes associated with vehicles on public roads.
The initiative promotes bioeconomy investments and the business operating environment. The proposal involves infrastructure required for key bioeconomy projects, such as the bio-product mill in Äänekoski and an innovative biorefinery in Kokkola.
The EduCloud service will be promoted as a groundbreaking operating and technology model. The model is for use in building a national-level ecosystem that combines users and buyers of learning services with the developers and service providers.
3. Traffic connections
Finland wants to promote a fast railway connection between Helsinki and Turku in order to strengthen the Scandinavia–Mediterranean route. As to air travel, improvements to the Helsinki – Vantaa Airport would boost its position as a hub between Asia and Europe. Proper connections to the Sokli phosphate mines would make it easier to exploit Arctic resources.
If the projects require state funding, multi-annual central government spending limits should be observed. Financing will be decided upon according to established procedures, respecting the budgetary authority of Parliament.
Finland is hoping that the December European Council, that is, the EU Summit, will endorse the final report. Finland's representative in the task force is Director General Markus Sovala of the Economics Department of the Ministry of Finance.
Further information:
Director General Markus Sovala, tel. 358 40 761 2723