Enterprise Estonia, Kredex shut down Russia- and Belarus-related activity
The joint organization of Enterprise Estonia and KredEx has halted tourism marketing activity, recalled its tourism representative in Moscow and canceled its participation in Russian and Belarusian business fairs, the organization announced on Friday. The servicing of all Russian and Belarusian foreign investment projects by the organization has likewise been canceled.
"We terminated all manner of business-related and marketing activity in Russia and Belarus," Enterprise Estonia and KredEx joint organization director Lauri Lugna said according to a press release. "We stand firm on behalf of Ukraine's independence, territorial integrity and sovereignty within its internationally recognized borders."
The processing of Russian and Belarusian citizens' e-residency applications has also been temporarily halted, as has the issuance of e-residents' digital ID cards at the Estonian embassies in Moscow and Minsk.
According to Lugna, the war launched by Russia is having an increasing impact on the global economy.
"Many Estonian companies are being impacted today already, either directly or via disrupted supply and market chains," he said. "The joint organization is working in cooperation with other parties in the public sector to find alternative markets and cooperation opportunities with other countries' businesses for our entrepreneurs. We are in direct contact with many of our clients in order to map out and find solutions in a quickly changing geo- and economic political situation."
Work in Estonia is sharing operational information, while the International House of Estonia (IHE) is serving Ukrainians in priority order. The startup visa applications of Ukrainian citizens are also being reviewed in priority order, with the processing time reduced to 1-2 days.
Ukraine has been a priority target of Estonia's e-Residency program for three years. Estonia has over 5,000 Ukrainian e-residents, who have established nearly 1,600 businesses.
The joint organization has also launched a website dedicated to hosting a frequently updated FAQ and other important contact information in connection with arriving in and temporarily relocating to Estonia.
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Editor: Aili Vahtla