OREANDA-NEWS. September 03, 2013. "With the ongoing debt crisis and the fact that the Eurozone is only now starting to recover from the recession, times continue to be tough for Europe – which is why new production and expansion of existing facilities is of such importance," said President Toomas Hendrik Ilves at the opening of the ABB technology park in Juri in Harju County. "It gives people hope for and belief in the future."

"The Baltic Sea region is often mentioned as the future growth centre of Europe, and it's up to us to make sure that comes to pass," the head of state said. "And in spite of it being a global company, ABB is a perfect example here, as it's located on both the eastern and western shores of the Baltic."

President Ilves reminded those attending the opening that ABB was one of the first major companies to establish itself on the eastern shore of the Baltic Sea, setting itself up in Estonia as early as 1992. "Given how forward-looking they are, and the long standing they boast, it's no surprise ABB have been awarded the title of Foreign Investor of the Year in Estonia four times," he said.

There are few employees as big as the technology park in Estonia – around 1200 people work at the One Campus in Juri – and President Ilves expressed his pleasure that the majority are technology and energy sector companies.

"The technology sector is the future, whether it lies in wind farms or industrial electronics," the president said. "The sector's almost always an exporter, and there's no need to remind you of the importance of exports in today's world. It goes without saying. And all of that in turn underscores the importance of education in engineering."

President Ilves also thanked ABB Baltic States manager Bo Henriksson for the company's many years of development in Estonia.