Joint effort towards the East – and elsewhere, too
U.S. Ambassador to Finland Bruce Oreck thinks that Finland has fantastic preconditions for capitalising on its geographical location and its own know-how as the Gateway to the East. The new Innovation Center at the U.S. Embassy in Helsinki provides excellent opportunities for Finnish players to increase their contacts also in the direction of the American market.
“The ball is now in your court,” Bruce Oreck, the U.S. Ambassador to Finland, says when showing us around the Embassy’s new Innovation Center. The American Embassy located in Kaivopuisto, Helsinki, inaugurated its new Innovation Center (Twitter @USEmbassyIC) in late February and has every reason to be very proud of it. Not only is the Center unique in its construction technology, thanks especially to its energy-efficient solutions; this 125 million dollar investment says much about how the United States sees Finland as a partner.
“We can do a lot together – much more than we have done so far,” Oreck continues. The magnificent building lends itself to many forms of cooperation – but now various players must roll up their sleeves and get to work, Oreck states. In this respect, we Finns now have the ball, too.
Gateway to the East: Finland is a competent player in the right place
Ambassador Oreck has spoken widely with his Finnish colleagues about Finland’s excellent location and know-how in relation to its neighbouring markets, especially Russia. Finland is the Gateway to the East. In principle, this is already known, of course, but now the intention is to invest clearly more into marketing this aspect than has been the case. In Oreck’s opinion, Finland has a marvellous starting point: “You are in the driver’s seat.”
Major global players don’t need a stepping stone on their way to Russia, but the situation is different for small and medium-sized enterprises, Oreck points out. He uses the term ‘small and medium-sized enterprises’ to refer broadly to companies with an annual turnover of less than one billion dollars. “You have long experience of the Russian market, you know conditions there, and you are known and trusted.” Finland’s infrastructure, functionality and transparency are great assets. There is demand for this sort of know-how.
The idea now is to market Finland’s excellent regional location and strong capital of know-know more visibly, both in North America and in Asia. Ambassador Oreck has acted as a messenger for Finland on the American market.
But how should Finns react to the idea that by acting as gateway players they are, for their part, helping potential new competitors gain access to the Russian market? American colleagues urge seeing the matter in a different light. Business generates business – competition is good.
An achiever adjusts – but isn’t toothless
Ambassador Oreck considers it highly important for both companies and states to realise that times have changed irrevocably. Old operational approaches no longer get anyone very far; change is our constant companion. Many new solutions are built on strong old foundations, but in this day and age achievers have to be both active and adaptive – which doesn’t mean being toothless. We must not be afraid to be difficult if our business requires it, Oreck says with a smile. “I, too, was quite difficult so I could get Washington to believe that this major investment in Helsinki was necessary!"
Oreck uses the well-known story about Kodak as an example of how quickly and completely an achieved position can be lost. In today’s world a company can lose its leading position in a few years. The same can happen to states if they don’t anticipate changes in good time, Oreck remarks.
In this connection the Ambassador also has a good reading tip. He encourages anyone interested in these issues to read “The Signal and the Noise” by Nate Silver. The signals are still there, even though hearing them is more difficult than before.
Now is the time for business
As a successful entrepreneur, Ambassador Oreck knows the ingredients for success stories. “Every day is a business day,” he says. In other words, even though the possible EU–US Transatlantic Trade and Investment Partnership, for example, would be a great thing if it comes to pass, and would bring a tailwind to business, one cannot sit around waiting. Issues should be tackled now, otherwise others will pass. “Nor should anyone be afraid of mistakes.”
The U.S. Embassy is located in “one of the most beautiful city’s most beautiful places in one of the world’s most beautiful countries”, to quote one Embassy employee. The renovated Embassy with its large windows opens directly onto the sea and does justice to its stunning location. The Embassy is in fact already situated in the warm embrace of the Baltic Sea and Helsinki – let Finnish business now step up to embrace it as well.
Text:Anna-Kaisa Heikkinen
Photos:Eero Kuosmanen