Edgar Savisaar, the Minister of Economic Affairs and Communications, met the AS Tallink Grupp board on the 15th of February and discussed the development plans for the Estonian transport and tourism sector and also for AS Tallink Group.
Edgar Savisaar confirmed that he would support Tallink Group as the buyer of
Silja Line, since it would bring direct benefit to the development of Estonia‘s
economy.
"Tallink Grupp is the region‘s most influential international company that is
based on Estonian capital," said Edgar Savisaar, the Minister of Economic
Affairs and Communications. "I personally consider it to be very important for
Estonian companies to be successful in international competition and the
Estonian state must do everything it can to support companies based on Estonian
capital. It would certainly be beneficial for Estonia to see Tallink buying
Silja Line - especially since Tallink is oriented towards creating a strong
chain of values. New hotels and Tallink City will bring in numerous new tourists
and thereby foster the growth of the Estonian tourism sector."
Edgar Savisaar said that today‘s meeting raised many painful problems for
Estonia that require solutions. "Estonian ships should sail under the Estonian
flag," explained Edgar Savisaar. "However, the current situation is such that
sailing under the Estonian flag is more expensive to the shipping companies than
sailing under, for example, the Latvian flag. In business, of course, companies
choose the options with lower costs, but since the countries compete for taxes,
Estonia must not treat the business concerns with ignorance. While the Latvian
tourism sector is still significantly and up to three times smaller than its
Estonian counterpart, it is growing much faster. The Estonian state must help
its companies be as competitive as possible."
Enn Pant, the chairman of the AS Tallink Grupp board, said that Tallink as a
company with significant influence in Estonian economy would mostly need its
country‘s attitude to be reasonable and for the state to protect the company
interests. "Tallink provides a significant part of Estonia‘s GDP," said Enn
Pant. "In three years, Tallink will invest over 8 billion kroons. Tallink‘s
successful activities on the Baltic Sea have irritated the competitors, but we
wish to consolidate our positions even further. I believe that Tallink is one of
the few Estonian companies that has flown its national flag high both in Sweden
and Finland - whereas it is usually the other way round and the Swedish and
Finnish companies take a sizable portion of the profits created by companies in
Estonia to Scandinavia. Tallink‘s notation on the stock exchange has given
thousands of Estonian citizens the chance to participate in international
business."