OREANDA-NEWS. September 20, 2011. Some of Estonia's top producers and investors say a "second wave“ of Finnish-run companies seeking prospects in Estonia is underway.

The Estonian Logistics Cluster and the Finnish office of the research and development investment foundation, Enterprise Estonia, are both trying to attract Finnish investors. Already a fourth of Estonia's foreign investments comes from Finland, they said in a joint press release.

The organizations pointed to the words of Juha Hamalainen, an adviser for the law bureau Sorainen, who, in the Finnish newspaper Kauppalehti, asserted that the Finnish government's plan to increase dividend and capital taxes is causing companies to turn to Estonia. According to Hamalainen, there are already some 10,000 Finns in managing positions in Estonia.

"We have a similiar understanding of quality. Cultural affinity is also an important factor. The Finns may plan their activities further ahead, and perhaps Estonians are more flexible and have experience working in a constantly changing environment. We are different enough to attract business and similiar enough to make cooperation possible,“ said Enterprise Estonia director in Helsinki, Valdar Liive.