AGP Executive Report

Online Trade: Finnish Customs will charge a €2 handling fee per goods item on online purchases arriving from outside the EU from November. Finland–Mongolia Ties: The countries signed 10 cooperation documents and pledged to turn business opportunities in clean technology, mining, energy, education and digitalisation into practical projects. Ukraine Technology: Finnish and Ukrainian companies are advancing joint defence technology, including Sine Engineering’s work on resilient communications, navigation and autonomous systems; Nokia and ICEYE are also exploring sovereign satellite links for Ukraine. Data Centre Oversight: Finnish authorities have halted work at two Google data centre sites after an estimated 250,000 trees were cleared before environmental review was completed. Nuclear Waste: Posiva received approval to operate the world’s first permanent repository for spent nuclear fuel. Pharmaceuticals: Finnish firm Orion reported trial results showing darolutamide cut the risk of metastasis or death by 58% when added to standard treatment for high-risk prostate cancer; the drug is not yet approved for this use.

Data Centre Halt: Finland’s licensing authority ordered Google to suspend environmentally significant work at planned Muhos and Kajaani data centres until required impact assessments are completed. The sites had already seen an estimated 400,000 trees felled, putting scrutiny on the company’s €13 billion AI investment. Nuclear Waste: Posiva won an operating licence for the world’s first permanent spent-fuel repository at Olkiluoto, though commissioning tests must still be completed before operations begin. Cybersecurity: PHP flaws triggered precautionary shutdowns of websites worldwide, including Finnish public services; operators face days or weeks of patching and testing. Telecoms and Defence: Nokia’s quarterly results point to stronger AI-related demand, while Finland and Ukraine signed agreements worth about €300 million, including plans involving Nokia and ICEYE to develop sovereign satellite communications. Food Industry: Atria reported a 4% rise in sales, but a pork export ban weighed on earnings.

Cybersecurity: Critical PHP flaws triggered millions of attack attempts and temporary shutdowns of government and business websites worldwide, including in Finland, underscoring risks to essential digital services. Ukraine Industry Deals: Finland and Ukraine signed agreements worth about €300 million, including a donation of 10 locomotives and cooperation with Nokia and ICEYE on satellite communications. Finnish firm Kenno Tech also agreed to work on prefabricated protective structures. Data Centre Dispute: Google has halted work on two planned Finnish data centres after clearing forest before completing environmental assessments, intensifying calls for tighter regulation of the sector. Nuclear Waste: Posiva received a licence to operate the world’s first permanent spent-fuel repository in Finland, a landmark for nuclear waste management. Telecoms and Food: Nokia’s third-quarter profit beat expectations amid strong AI-related sales. Atria’s sales rose 4%, but a pork export ban weighed on earnings.

Ukraine Industry Links: Finland signed seven agreements worth about €300 million in Kyiv, including the transfer of ten locomotives, €5 million for energy support and cooperation involving Nokia and ICEYE on satellite capabilities. Data Centre Scrutiny: Authorities ordered Google to halt land-clearing for its Finnish AI projects after forests were cleared without a required environmental assessment; a petition calling for tighter data-centre rules has passed 96,000 signatures. Nuclear Waste: Finland licensed Posiva’s Onkalo facility, the world’s first permanent repository for spent nuclear fuel. Testing and regulatory checks must still be completed before operations begin. Shipbuilding: Helsinki Shipyard says passenger vessels remain part of its strategy even as icebreaker and coastguard work dominates its orderbook. Food Production: Atria reported sales growth of 4% in the third quarter, but a pork export ban weighed on earnings; it plans to centralise cattle slaughtering to save €2 million annually.

Nokia: Q3 net sales rose 10% year on year, while sales to AI and cloud customers jumped 123%; the company kept its full-year outlook unchanged. Fertiliser: Yara’s Q3 earnings fell as higher gas costs and an outage in Finland’s phosphate chain squeezed European margins. Cybersecurity: Finnish government websites were partly unavailable as operators rushed to patch critical PHP flaws, with attacks surging after disclosure. Quantum Computing: Finnish firm IQM says it has sold 21 systems to 13 customers and has a backlog exceeding €102 million, though it remains loss-making. Energy Policy: Finland’s Parliament’s Grand Committee says proposed EU electricity-market rules on network charges breach subsidiarity, arguing countries need room to account for national conditions. Mining Equipment: Metso agreed to acquire a Brazilian bronze manufacturer, expanding its industrial supply business.

Cybersecurity: Finland was among the countries that temporarily took government websites offline as PHP developers rushed to patch critical flaws; operators face pressure to update before attacks spread. Mining Equipment: Metso agreed to acquire Brazilian supplier Italbronze, bringing about 470 employees and casting and machining capacity into its crushing-equipment aftermarket business. Paper Industry: The European Parliament approved €1.1 million in support for 351 workers laid off in southern Finland and Helsinki-Uusimaa, including funding for retraining and job-search services. Agricultural Technology: Nokian Tyres is adding load measurement to its Intuitu smart-tyre system, aiming to help farmers manage pressure, protect soil and run machinery efficiently. Smart Energy: Finnish firm Wirepas reports about 700,000 smart-meter installations in India’s Himachal Pradesh, where its mesh network helps connect meters in areas with patchy mobile coverage.

Arctic Industry: The EU’s new Arctic strategy puts icebreakers, satellite surveillance and undersea cable protection at the centre of its security plans, raising the region’s importance for Finnish infrastructure and shipping. Manufacturing and Jobs: Finland recorded 344 bankruptcies in September, 55 more than a year earlier; 32 were in manufacturing and 64 in construction. Unemployment climbed to 10.4%. Defence Production: Finland plans to buy one million domestically made anti-personnel mines for €100 million, a significant order for local manufacturers. Technology Investment: Mikkeli’s planned AI compute centre secured a 9 MVA grid connection, while Espoo-based Coherence Quantum raised €2.78 million to develop infrastructure for larger quantum computers.

Arctic Infrastructure: The EU’s new Arctic strategy calls for more icebreakers, protected undersea cables and stronger transport links, putting Finland’s northern industries and infrastructure in focus. Jobs and Energy: Finland’s unemployment rate reached 10.4% in September, while Neste urged the EU to ease biofuel feedstock rules amid an energy crunch. Quantum and AI: Espoo-based Coherence Quantum raised €2.78 million to scale quantum computers, and 3E Network secured a 9 MVA grid connection for its Finnish AI compute centre. Defence Industry: At Oslo talks on Ukraine, Finnish President Alexander Stubb joined discussions on air defence, energy infrastructure and joint weapons production.

Trade and Innovation: Finland and Washington state have agreed to deepen cooperation in maritime industries, aerospace, clean energy, batteries, forestry, quantum technology and AI, with plans for trade missions and business links. Jobs: Finland’s unemployment rate rose to 10.5% in September, with 39,000 more people out of work than a year earlier; long-term unemployment is also increasing. Quantum Technology: VTT and Japan’s Q-STAR are joining forces to connect their quantum ecosystems and accelerate commercialisation. Espoo-based Coherence Quantum has also raised €2.78 million to help quantum computers scale. Defence Manufacturing: Finland plans a €100 million purchase of one million domestically produced anti-personnel mines, with production expected to start by 2028; contracts have yet to be signed. Business Links: Mongolia’s president visits Finland this week for talks on energy and geology, alongside a business forum and plans for cooperation agreements. Arctic Strategy: The EU plans to expand its Arctic presence through infrastructure and security cooperation, a move with direct relevance for Finland as one of the bloc’s Arctic members.

Marine Software: Åland-based Carus, whose ferry booking and port systems serve about 30 operators worldwide, has been acquired by Canada’s Banyan Software. Carus will remain a standalone business, with founder Anders Rundberg as CEO. Mining: Volvo Group plans to launch Volvo Mining on 1 January 2027, initially serving customers in Finland, Sweden and Norway. Separately, Finnish company Normet and Chile’s Codelco will develop and test autonomous underground mining technology at Codelco’s El Teniente mine. Defence Manufacturing: Finland is preparing a €100 million procurement of one million anti-personnel mines and hopes domestic manufacturers can supply them. No contracts have been signed; production could start in 2028. Data Centres and Energy: Finland’s supervisory agency has ordered a pause on Google data-centre construction in Muhos and Kajaani pending environmental assessment requirements. Meanwhile, a company developing an AI compute centre in Mikkeli has secured a power-connection agreement, and Fortum and Google have signed a long-term nuclear power purchase deal in Finland.

Data Centre Debate: Finland’s data centre plans have multiplied to an estimated 150–200, as the country weighs major investment against energy demand and environmental concerns. Google’s €13 billion project has stalled after forest clearing began before required permits and an environmental assessment were in place. Packaging: Pyroll says all seven of its Finnish plants now hold FSSC 22000 food-safety certification, completing a network-wide programme. Food Technology: Solar Foods has joined the Deep Space Food Consortium, bringing its gas-fermentation protein technology into a group exploring food production in extreme environments. Research Talent: University of Helsinki has gained US researcher Halley Froehlich, who moved to Finland amid grant uncertainty and concerns over political interference in American science funding.

Energy Costs: Finland defended the EU carbon market at the Brussels summit as leaders clashed over industrial energy bills; at home, the government approved €60 million in fuel-price relief. Gaming Jobs: Ubisoft is reportedly planning to close Finnish studio RedLynx, known for the Trials series, amid wider cuts across its studios. Trade and Investment: A Finnish business delegation visiting Vietnam is pursuing partnerships in clean technology, construction, data centres and energy; Finnish investment there has topped $1 billion. Cleaner Industry: SSAB and Finnish researchers are investing €40 million in cleaner steel, while Rabbalshede Kraft has begun construction of solar projects in Finland. Manufacturing and Mining: Katsa is expanding gearbox assembly with a new Finnish plant, and Endomines has extended its gold-concentrate agreement with Boliden to 2032.

Energy Costs: Finland backed the EU emissions trading system at a leaders’ summit where governments split over how to shield industry from high energy bills; major carbon-market changes remain unresolved. Games Industry: Ubisoft plans to close Finnish studio RedLynx as part of a wider restructuring that could affect up to 122 jobs across several teams. Forest-Based Chemicals: Finnish group UPM has opened its €1.37 billion biorefinery in Germany, designed to produce 220,000 tonnes of wood-based renewable chemicals a year for industries including textiles, packaging and construction. Mining: Endomines extended its gold concentrate agreement with Boliden Commercial through 2032. Data Centres: Google’s Finland head apologised over forest clearances at data-centre sites, as the company faces scrutiny over the land used for its infrastructure. Renewable Power: Rabbalshede Kraft has begun construction of solar projects in Finland.

Bio-based Chemicals: UPM has opened a €1.37bn biorefinery in Germany, the world’s largest wood-based facility of its kind. It will turn wood and sawmill residues into renewable chemicals for industries including textiles, packaging and construction. Data-centre Power: Google is recruiting for an EMEA energy role that can be based in Finland, focused on power infrastructure for data centres. Icebreaker Operations: Pori and Kemi are set to become home ports for icebreakers, reinforcing Finland’s role in Baltic winter shipping. Cleaner Steel: SSAB and Finnish researchers are investing €40m in cleaner-steel development. Manufacturing Expansion: Finnish gearbox maker Katsa is adding an assembly plant to meet rising global demand.

Maritime Logistics: Finland will station icebreakers in Helsinki, Pori and Kemi by the end of the 2026–27 season, bringing critical winter shipping support closer to the Bay of Bothnia. Clean Energy: Rabbalshede Kraft has begun building solar projects in Finland; new requirements will also call for grid-forming support from wind and solar projects in weak grids. The government has approved a €60 million fuel-price relief package. Manufacturing & Materials: SSAB and Finnish researchers are investing €40 million in cleaner steel, while gearbox maker Katsa is expanding assembly with a new plant. Technology & Jobs: Ubisoft is closing its Finnish RedLynx studio, a setback for the local games industry. Helsinki-based Ambio, meanwhile, has raised €5.1 million to grow its AI-powered recycled-plastics procurement platform.

Renewable Energy: Rabbalshede Kraft has begun building two Finnish solar parks with combined capacity of 108.2 MWp. Lamminneva and Isoneva are targeted to start operating in spring 2027. Business Costs: Finland has agreed on €60 million in fuel-price relief, including support for transport, agriculture and forestry. Office Investment: IT services company Advania plans to open its new Helsinki headquarters in Pasila this month. Industrial Expansion: Katsa is expanding gearbox assembly with a new Finnish plant, while Finnfund is backing electric-forklift maker Bisedge’s expansion with a €10 million loan. Cleaner Industry: SSAB and Finnish researchers are investing €40 million in cleaner steel. Mining: Endomines has extended its gold-concentrate agreement with Boliden to 2032 and launched a dry-stack tailings pilot at the Pampalo mine.