KredEx and Enterprise Estonia have merged.
A transition phase will start in January, where a new structure and brand will be created for the joint agency. In the meantime, services will continue to be offered under the existing brands of Enterprise Estonia and KredEx. The substantive merger will be completed in the course of 2022.
The legal name of the new organisation will be Estonian Business and Innovation Agency from January 2022.
The main objective of the joint organisation is to support entrepreneurship and the improvement of living conditions in Estonia, increase our international competitiveness, visibility and attractiveness as a place for business, living and studies.
Under the KredEx brand, the joint organisation continues to help:
Discover more: kredex.ee
Under the Enterprise Estonia brand, the joint organisation develops the Estonian economy and businesses through:
With offices in 17 foreign markets, Enterprise Estonia serves as a bridge between the Estonian business environment and the world.
One of the biggest challenges for the Estonian economy is to move from among countries with average added value towards countries with high added value. To this end, Estonian enterprises need to develop more sophisticated products, provide more expensive services, and expand their operations in foreign markets. Therefore, Enterprise Estonia is addressing two major market failures, which are limited product development of enterprises and concentrated exports to a few specific markets. Exporting enterprises serve as the main basis of the Estonian economy, as exports account for 80% of the total output thereof.
The Estonian Investment Agency is primarily focused on attracting development centres, highly automated industry, and smart capital to Estonia. The aim is to seek more foreign investments in Estonian rural areas in order to revitalise Estonian life as evenly as possible.
The tourism economy accounts for nearly 8% of Estonia’s GDP. To ensure the quality and competitiveness of Estonia as a tourist destination, it is important to ensure the comprehensive development of the sector. For this purpose, Enterprise Estonia is engaged in the development and introduction of Estonian tourism products to foreign tour operators, as well as the training of Estonian tourism enterprises. It is also important to promote Estonia as an attractive holiday destination through campaigns and the website of Visit Estonia.
Our activities contribute to achieving the long-term strategic goals of the Estonian economy and our further aim is to facilitate the process of Estonia becoming one of the most competitive countries in the world.
Building a successful Estonia.
The objective of Enterprise Estonia for 2019–2023**
|Objective for 2023|
|The growth of Enterprise Estonia’s clients’ export sales revenue in comparison with the average in Estonia||+5%|
|The growth of the added value of Enterprise Estonia’s clients in comparison with the average in Estonia||+5%|
|The number of internationally known trademarks in the final year||20 trademarks|
|The foreign investments brought to Estonia with the help of Enterprise Estonia and the jobs created during 2019-2023 cumulatively||900 million euros and 5,000 new jobs|
|The added value of foreign investments brought to Estonia with the help of Enterprise Estonia per employee in the final year in comparison with the county average||1.25x higher|
|The export sales revenue of tourism services in the final year||2 million euros|
|The growth of the added value of tourism companies serviced by Enterprise Estonia in the final year in comparison with the average in the field||1.25x higher|
|Revenue from overnight stays of domestic and international tourists in the final year||7 million euros|
*We use the Global Competitiveness Report from the World Economic Forum according to which Estonia was placed 31st in 2019.
**The objectives of the strategy paper are adjusted to the situation caused by COVID-19.
Following Estonia's accession to the EU, EAS became one of the agencies implementing EU structural funds in Estonia. During the 2007-2013 EU financing period, EUR 784 million (EEK 12 billion) of the more than EUR 3.4 billion (EEK 53 billion) of structural aid to Estonia has been implemented by Enterprise Estonia. In EU's new, 2014-2020 funding period, the budget for Structural Funds is 3.5 billion euros, of which 588.1 million is to be implemented by Enterprise Estonia.
Organisation is led by a 2-member Management Board and a Supervisory Board, consisting of the entrepreneurs and officials.
Additionally, advisory boards consisting of the best experts in each of the areas of responsibilities give the organization advice and guidance in return for up to date information on future plans and opportunities.
Chairman of the Supervisory Board:
Members of the Supervisory Board: