"The most important thing is that Enterprise Estonia has clearly got its focus right and has started to vigorously raise export, tourism revenue and foreign investments or, in other words, has made a contribution to economic growth with specific actions," Ivask said, according to BNS, from a press release in which he confirmed his reason for standing down was to leave exchange the public sector for the private.

Ivask's last day on the job will be Sept. 20.

Minister of Foreign Trade and IT Kert Kingo (EKRE) said that while Alo Ivask has been a good manager for Enterprise Estonia, she understands his desire to take on new responsibilities.

"I thank Alo Ivask for the job done," the minister said.

Kingo added that in addition to Enterprise Estonia's strong economic performance, she considers the team Ivask is leaving behind as a strong legacy which can continue the implementation of organization's goals.

Kingo is awaiting proposals from the Enterprise Estonia supervisory board as to who will replace Ivask. Sigrid Harjo and Martin Mark will make up the management board in the interim period after Ivask leaves.

Enterprise Estonia's growth and key customers revenue grew 15 percent in 2018, significantly a better performance than the market.

Additionally, the Estonian Investment Agency, a subsidiary of Enterprise Estonia, posted its all-time strongest results in 2018, with foreign investments amounting to €324 million The export of tourism services grew more than expected as well, reaching €1.97 billion in value.  

Established in 2000, Enterprise Estonia promotes business and regional policy in Estonia and is one of the largest institutions within the national support system for entrepreneurship, through providing financial assistance, counseling, cooperation opportunities and training for entrepreneurs, research institutions, the public and non-profit sectors.

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