Strong involvement of the social partners to help embrace globalisation and targeted investment in R&D are important keys to success, explains Finnish industry boss Leif Fagernäs in an exclusive interview with EURACTIV.
Even if ‘flexicurity’ of the labour market has played an important part in the success of the Finnish economy, Leif Fagernäs, Director General of the Confederation of Finnish Industries EK, questions whether this model is ready for export immediately:
“Flexibility of the labour market is a must in the efforts to improve competitiveness, but it also requires sufficient attention to be paid to security. The culture is different in the European countries and in many countries it seems that the discussion and the relations between the stakeholders are not yet ripe for this,” says Fagernäs to EURACTIV.
Commenting on the importance of investing in R&D, he says: “Success in the world series requires science-based competitiveness. This has been very true in our telecommunication cluster which has reached the leading position globally.”
He adds, however, that investing in R&D is not enough: “Companies must prioritise their activities and focus on customer needs, competition and strong market positions, branding, efficiency and productivity – as well as world class R&D.”
Click to read the full interview with Leif Fagernäs.