17% growth of industrial investment forecast this year: EK survey

Industrial investment in Finland is expected to grow by 17 percent this year compared to the previous year, according to a survey by the Confederation of Finnish Industries (EK) published on Tuesday, reported Xinhua.

The total value of the industrial investment in 2022 would be about 9.9 billion euros, it said.

"There are now three factors behind the growth: the long-lasting investment recession, the economic shock brought by the COVID-19, and the opportunity brought by the green transition," said EK's Director Sami Pakarinen.

The value of fixed investments is expected to be 6.8 billion euros this year, which is as much as 21 percent more than in the previous year. According to the survey, the value of research and development expenditure would be 3 billion euros this year, an increase of 9 percent compared to last year.

Investments in the energy industry would increase by 37 percent this year to 3.3 billion euros.

According to the intended use, 45 percent of the investments planned for the current year are investments to expand production capacity and approximately 42 percent are replacement investments.