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Estonia to invest €160 million in developing business, ICT

Minister of Entrepreneurship and Information Technology Urve Palo.
Minister of Entrepreneurship and Information Technology Urve Palo. Source: (Siim Lõvi/ERR)

With the Estonian government's 2018-2021 state budget strategy, nearly €160 million will be invested in the development of business and ICT over four years, including increased investments in housing and the e-state.

"We are focusing on supporting business outside of cities by directing money into creating internet connections, supporting connections with communication networks and developing the state housing trust fund to ensure employees have good quality housing all over Estonia," Minister of Entrepreneurship and Information Technology Urve Palo said in a press release.

Palo said that it is necessary to create jobs outside of bigger cities. "The government has multiple plans to achieve this, beginning with moving jobs away from Tallinn, directing additional resources toward road construction and transport and ending with the construction of modern municipal rental housing and the support of building the last mile of internet connection," said the minister.

The Ministry of Economic Affairs and Communications is launching a program to empower e-Estonia, the aim of which is to boost the information and communication technology sector and the digital economy. The total capacity of the program is €28 euros and includes projects such as the "2,000 IT specialists," the digital revolution of the industry as well as promoting IT and communication skills. The e-residency program will also be continued, and a total of €20 million euros will be invested in establishing high-speed internet connections all over the country.

The government will support the connection of businesses with technical networks with €10 million. The national housing fund will be developed within the framework of a rental housing program and will receive €60 million.

Editor: Aili Vahtla

Source: BNS

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