Ligi: The objective of promoting local capital markets is supporting economic growth
Minister of Finance Jürgen Ligi met with representatives from FinanceEstonia and the Estonian Private Equity and Venture Capital Association to discuss the development of state and private sector collaboration with the Estonian capital market and investment culture.
“The objective of promoting local capital markets is supporting economic growth,” commented Ligi. “Estonia needs to make smart decisions so that local companies have better access to as many different funding opportunities as possible.”
The Ministry of Finance is preparing legislation to make the conditions of founding investment funds more flexible and to simplify pension fund investment rules. Thus, pension funds have an opportunity to focus their assets on the local market to a greater extent. The new law should be implemented in 2015. In addition, Estonia, together with support from the other Baltic countries and the European Investment Fund, created the Baltic Innovation Fund with the purpose of increasing capital investment to companies in the region.
FinanceEstonia is a private public sector non-profit organization with the objective of creating a higher value-adding financial sector. The Estonian Private Equity and Venture Capital Association is the umbrella organisation that provides services concerning venture capital, private equity funds, business angels, and field support.