Finland Times

 

Former Swedish Minister of Finance Anders Borg. File Photo – Lehtikuva.

Former Swedish Finance Minister believes Finland should relax its immigration policy in order to spur a faster economic growth.

 

If Finland wants to promote the emergence of new global companies, it has to bring experts from the world quickly, said Borg at an event in Helsinki on Thursday.

 

Borg believes issuing of work permits should take two or three weeks, and as such, the processing of work permit should not stretch for months as it is the case currently.

 

Earlier on March 11, a high profile report said that the country can overcome the ongoing economic difficulties by restoring competitiveness, increasing the supply of labour and improving labour productivity.

 

The report jointly prepared by former Swedish Minister of Finance Anders Borg and Director General of VATT Institute for Economic Research Juhana Vartiainen and submitted to Prime Minister Alexander Stubb said that growth of labour costs in Finland should take many more years than in competitor countries. 

 

It is also necessary to free work-related immigration, terminate the "unemployment pathway to retirement" of those born after 1965 and improve entrepreneurial atmosphere in Finland, said the report.