Saudi Arabia’s Foreign Minister, Prince Faisal bin Farhan Al Saud, visited Estonia, where he met with Prime Minister Kaja Kallas and Foreign Minister Margus Tsahkna, ERR reports. The discussions focused on economic and business cooperation, regional security, and human rights. Also, the foreign ministries of the two countries signed a memorandum to facilitate regular consultations….
Estonian biomaterials company Fibenol plans to invest EUR 600-700mn in a biorefinery in Latvia, ERR reports. Fibenol’s pretreatment technology will convert locally-sourced wood into biomaterials that can replace fossil fuel-based chemicals in various industries. The company had initially intended to build the plant in Estonia. Fibenol’s owner, Raul Kirjanen, noted that countries rich in wood…
The Estonian Defence and Aerospace Industry Association (EKTL) has signed a cooperation agreement with Ukraine’s Ministry of Strategic Industries, ERR reports. The agreement, which covers both technology development and transfer, allows Estonian defence industry companies to increase their involvement in the development of Ukraine’s defence capabilities, giving direct access to Ukrainian state institutions. Currently, 10…
Latvia’s Economy Minister, Ilze Indriksone, visited South Korea together with a delegation of Latvian entrepreneurs, LSM reported. She suggested that Latvia could become a gateway to the European market for South Korea. Also, the two countries could cooperate on technology transfer in strategic industries, biotechnology, and biomedicine, Indriksone said. She noted that South Korea was…
The Investment and Development Agency of Latvia (LIAA) will provide EUR 73.38mn of support from EU structural funds for small and medium-sized enterprises, LSM reports. LIAA expects the programme to support a total of 1,500 innovative businesses. The Ministry of Economy said that the support programme would help businesses developing high-value-added products in the medium-high…
Swedish telecommunications technology company Ericsson plans to build a new manufacturing and technology facility in Estonia’s capital city of Tallinn, ERR reports. The company will invest EUR 155mn in the production centre in Tallinn’s Ülemiste City business park. Construction work is due to be completed by 2026. The facility will house testing laboratories, production lines,…