In recent years, Finland has faced recurring economic and structural challenges. Economic growth has been slow, exports have not developed competitively, and labor market rigidity limits business opportunities. The foundation of major societal structures was built in the industrial era of the 20th century, but today’s economy requires more flexible solutions. SMEs, the backbone of Finland’s economy, struggle with rigid regulations and increasing bureaucracy. This situation hinders the scaling of innovations, the growth of investments, and the creation of new jobs.

The keys to solving these issues lie in international cooperation and the utilization of new markets. Hong Kong offers Finnish companies a strategic base from which they can rapidly expand into the Asian market. Its advanced financial system, business-friendly legislation, and strong trade relationships provide companies with the opportunity to grow without the barriers imposed by domestic regulations. Finland cannot rely solely on its domestic market; it must actively seek new business opportunities on the global stage. Hong Kong can serve as a bridge, helping Finnish companies enter the rapidly growing markets of China and other Asian countries.

The significance of Hong Kong for Finnish organizations

Hong Kong is one of the world’s leading centers of international trade, and its importance for Finnish companies is continuously increasing. Economic stability, an open business environment, and its central location in Asia and direct flight connections between Helsinki and Hong Kong make it an excellent hub for Finnish companies looking to expand into new markets. Its location provides direct access to China and other Asian economies, enabling efficient marketing and distribution in the region.

Hong Kong’s business environment and various events offer valuable connections and expert insights into the Asian market. For example, the Hong Kong Trade Development Council (HKTDC) helps companies find business partners and customers while providing information on market trends and regulatory practices. Additionally, Hong Kong’s strong financial sector and international banks support business growth by offering flexible financing options.

Particularly in the fields of health technology, sustainable development solutions, and the financial sector, Hong Kong’s significance is notable. The rapidly growing Asian markets require innovative medical solutions, sustainable business models, and advanced financial services. Finnish companies have much to offer in these sectors, and Hong Kong serves as an effective gateway for expanding these products and services throughout Asia.

The Finland-Hong Kong Business Association celebrates its 40th anniversary this year and continues its mission of supporting Finnish companies. The association operates on a non-profit basis and has, with years of experience, helped companies and its members enter the Asian market through Hong Kong, thanks to the pro bono contributions of its board members. Contact us and join our network so that we can open doors to the Asian market together.

The power of collaboration – Growth into the Asian market: The case of Sustainable Energy Asset Management Oy

This success story is driven by Sustainable Energy Asset Management Oy (SEAM), the parent company of SEAM HK Holding Limited Ltd., which operates in Hong Kong. The company leverages Hong Kong’s strategic position in the Asian market to expand its business in sustainable energy solutions.

Chairman of the Board, Jukka Jaatinen, explains:

“Expanding into the Asian market is no easy task, but with the right partners and expert guidance, many unnecessary hurdles can be avoided. In our case, the expert guidance of the Finland-Hong Kong Business Association’s board and its strategic partners – HKTDC Nordic Office (Pertti Jalasvirta), InvestHK (Mats Gerlam), and Fintrade Mercer (Jari Vepsäläinen) – formed a valuable support network that enabled efficient and well-structured market entry into Hong Kong.“

Expert guidance and local knowledge

“The most valuable aspect of this collaboration has been discussions with experienced professionals. While the core work is always the company’s responsibility, expert guidance and fact-based insights from HKTDC have helped us avoid many unnecessary obstacles.

We extend our sincere thanks to Jari Vepsäläinen (Fintrade Mercer), Mats Gerlam (InvestHK), Pertti Jalasvirta (HKTDC Nordic Office), and the board of the Finland-Hong Kong Business Association, whose expertise has guided us in making well-founded business decisions, participating in the right events, and progressing strategically in the right direction.”

Leveraging information and networks

The resources, events, and services provided by HKTDC and InvestHK have been invaluable sources of information and a critical launchpad for researching local business practices, regulations, and market opportunities.

A special thanks goes to Mats Gerlam (InvestHK), who has helped identify potential investors and funding opportunities as part of our business expansion plans. Finding the right local investors and strategic partners is crucial in unlocking new growth opportunities.

The importance of networking

Networking has been one of the most significant advantages of this collaboration. Through the Finland-Hong Kong Business Association, we have gained valuable contacts and recommendations that have significantly facilitated our market entry.

The networks provided by Fintrade Mercer and InvestHK have also been instrumental in helping us identify the right contacts and develop the best approaches to engage with different stakeholders. This has saved us both time and resources.

HKTDC has provided valuable insights and opportunities to participate in various events and networking sessions. These events have allowed us to connect with potential business partners, stay updated on market trends, and expand our business opportunities in strategic markets.

The future: Hong Kong team as a member of the international software development

We believe this collaboration will continue, and our need for support will grow even further as we consider a new concept for software development with a co-working team in Hong Kong. This expansion will require local recruitment expertise, office spaces, and HR services. At this stage, InvestHK and Fintrade Mercer will provide practical support and resources to plan the setup of our HK development team.

Hong Kong is an excellent gateway to the Asian market, but success depends on having the right partners who can provide clear and expert guidance.

For this reason, we highly recommend the Finland-Hong Kong Business Association and its strategic partners—HKTDC Nordic Office, InvestHK, and Fintrade Mercer—to any company considering expanding into Asia through Hong Kong.

Pertti Jalasvirta
The author is a long-time board member of the Finland-Hong Kong Business Association