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Welcome to Stockholm! Sergey Baranov, Stockholm Region Office in St. Petersburg Nevsky prospekt 1, St. Petersburg, Russia

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Presentation on theme: "Welcome to Stockholm! Sergey Baranov, Stockholm Region Office in St. Petersburg Nevsky prospekt 1, St. Petersburg, Russia"— Presentation transcript:

1 Welcome to Stockholm! Sergey Baranov, Stockholm Region Office in St. Petersburg Nevsky prospekt 1, St. Petersburg, Russia +7 (812)

2 Stockholm Business Region Development at a glance Background Official investment promotion agency of Stockholm region Fully owned by the City of Stockholm Responsible to 49 municipalities in the Stockholm region A subsidiary to Stockholm Business Region. Staff 17 employees, sector specialists with business backgrounds Extensive regional and national network. Representation in EU and 5 countries (ISA). Investor service Decision support, matchmaking and practical establishment support free of charge. Achievements Assisted in 830 investments since 1997

3 SBRD your point of contact for Consolidating your business in the region Taking part in research cooperation Opening a regional sales office Considering an R&D center Setting up a production facility Establishing a regional headquarter Etc

4 Sweden and Stockholm in general

5 One of the ten largest economies in the world Surce: Norden i tal 2009 GRP: 130 billion Inhabitants: 3,4 million Workforce: 1,8 million Companies: Universities: 28 Students Researchers Stockholm Scandinavia & Sweden GDP: 1,072 / 314 billion Inhabitants: 30 / 9,3 million

6 December 31, 2013 GDP growth in selected countries 2004–2008, average annual change, percent Inflation rate 2004–2008, annual average, percent Strong and stable economy Source: National Institute of Economic Research Eurostat; OECD, 2008 (Figures for 2008 are preliminary) Source: National Institute of Economic Research Eurostat; OECD, 2008

7 Source: Swedish Energy Agency, based on data from Statistics Sweden and Swedish Environmental Protection Agency Economic growth and emissions reductions

8 Many well known multinationals are of Swedish origin

9 Given its size one of the largest recipients of International investment Source: Unctad, 2009 Largest recipients of FDI worldwide , US$ billion Approximately 50% of total FDI projects end up in Stockholm

10 The largest city at the heart of the growing Scandinavian market Excellent business climate Key Clusters of similar companies World leading innovations and R&D in some clusters Political and economical stability Transparency Competence and language skills Competitive costs Quality of life Nine reasons to invest in the Stockholm region:

11 Stockholm – The Capital of Scandinavia Stockholm is Scandinavias largest city and its natural center –The Central Capital of Scandinavia The Stockholm region is Scandinavias economic center –The Business Capital of Scandinavia Stockholm is Scandinavias trendsetting cultural city –The Cultural Capital of Scandinavia The Stockholm region Population: appr 3,400,000 (2009) Regional GDP: 134,735 million Euro 2006 Eurostat The Stockholm region Population: appr 3,400,000 (2009) Regional GDP: 134,735 million Euro 2006 Eurostat

12 The region includes Scandinavia's largest city and natural center World-class wired and wireless communication The ports of Stockholm are the Baltic Sea's largest meeting place Several international airports World class academic institutions No 1 IT-Intelligent Community of the Year 2009

13 Innovations centre with, among others, world-class ICT, cleantech and automation One of Europes largest biotechnology clusters Highest representation of multinational companies Leading financial centre and largest stock exchange Logistics centre for the Scandinavian and Baltic market Largest GDP Largest tourism industry The first European Green Capital 2010

14 The Nobel Prize Music production centre International food culture Unique selection of galleries and museums World-class form and design Nature and quality of life The Polar Prize The Stockholm Water Prize

15 The Stockholm region in cooperation. 47 municipalities A formalized partnership Promotes Stockholm in order to attract foreign investments Develops local entrepreneurship and business climate The Stockholm region Population: approx 3.4 million (2009) Regional GDP: 134,735 million Euro (SBA 2006)

16 Why Stockholm? 1. Access to knowledge, exciting technologies and talents

17 1.Sweden82,2 2.Finland77,8 3.USA77,5 4.Switzerland77,0 5.Netherlands76,6 6.Singapore76,5 7.Canada74,8 8.United Kingdom74,6 9.Norway73,5 10.New Zealand73,4 A knowledge intense and innovative country Innovation Capacity Index 2009–2010

18 Top ten in world knowledge competitiveness survey of 145 regions Source: Centre for International Competitiveness 2008 RankRegionIndex Score San Jose, Sunnyvale, Santa Clara, USA248 2Boston, Cambridge, Quincy, USA175 3Hartford, USA175 4Bridgeport, Stamford, Norwalk, USA174 5San Francisco, Oakland, Fremont, USA161 6Stockholm152 7Seattle, Tacoma, Bellevue, USA151 8Providence, Fall River, Warwick, USA147 9Tokyo, Japan147 10San Diego, Carlsbad, San Marcos, USA146

19 Substantial R&D expenditure Source: IMD World competitiveness yearbook 2009 R&D expenditure 2006, percent of GDP

20 Strong university-industry research collaboration 2008, country rank 1.US 2.Switzerland 3.Sweden 4.Finland 5.Singapore 6.Germany 7.Denmark 8.Belgium 9.UK 10.Taiwan Source: World Economic Forum, 2008

21 Highest growth in patent applications 2008, percent Source: World Intellectual Property Organization 2008

22 Why Stockholm? Knowledge-driven business and investment opportunities

23 Business sector opportunities Information & communication technologies (ICT) Life sciences Cleantech Automation Automotive

24 Key sectors in the Stockholm region: ICT Life Sciences Financial Services Automation Cleantech Hospitality Logistics

25 Why Stockholm and Sweden ? 2. Access to large, growing and advanced markets

26 Why Stockholm? 3. Easy to set up and do business

27 Easy to set up a business Source: IMD world competitiveness yearbook, 2008 Protectionism does not impair the conduct of your business Product and service legislation does not deter business activity Bureaucracy does not hinder business activity Reliable intellectual property protection Balance between security, reliability, transparency cost-effectiveness Balance between security, reliability, transparency cost-effectiveness

28 Least corrupt society 2008 ranking, selection of countries 1.Sweden 1.Denmark 1.New Zealand 4.Singapore 5.Finland 5.Switzerland 7.Netherlands 12.Austria 14.Germany Source: Transparency International, Corruption Perceptions Index 2008

29 Swedish companies pay on time Source: European Payment Index 2009 Due to legislation and the Swedish culture, companies can expect to receive payment on time for their goods and services sold in Sweden 1.Finland 2.Sweden 3.Norway 4.Denmark 5.Iceland 6.Switzerland 7.Ireland 8.Faroe Island 9.France 10.Estonia

30 Industrial disputes rare in Sweden Source: IMD World Competitivness Yearbook 2009 Working days lost due to strikes per 1,000 inhabitants per year (2005–2007)

31 Why Stockholm? 4. First rate infrastructure and high availability of skilled labor

32 Highly developed transportation network Five international airports Seven major seaports Railroads and high speed trains Logistic parks Good public transportation

33 Best ICT infrastructure in the world Source: Connectivity Scorecard Sweden 2.US 3.Norway 4.Denmark 5.Netherlands 6.Finland 7.Australia 8.UK 9.Canada 10.Japan The worlds biggest open fiber network. High usage of computer, internet and mobile phones. Stockholm and Sweden are ranked nr 1 in several rankings rating ICT infrastructure and network readiness. The Intelligent Community of 2009? Did you know that Stockholm is The IT-Intelligent Community of 2009?

34 Availability of skilled labor 2009 Source: IMD World Competitivness Yearbook Ireland 2.Japan 3.Switzerland 4.Sweden 5.Denmark 6.Finland 7.Phillippines 8.Israel 9.Singapore 10.US

35 Swedes are hard working Average working hours per year, 2007 Source: IMD World Competitivness Yearbook 2009

36 Senior engineer, labor cost in SEK Source: Based upon Watson Wyatt and National Statistics (2008) ; fDi Intelligence, from the Financial Times Ltd (2009)

37 Why Stockholm? 5. Quality of life

38 Great place to live 1.Iceland 2Norway 3.Australia 4.Canada 5.Ireland 6.Sweden 7.Switzerland 9.Netherlands 10.France 23.Germany Source: Human Development Index, UNDP, 2008

39 Cost of living competitive Selection of cities 1.Moscow 2.Tokyo 3.London 7.Copenhagen 9. Zurich 12.Paris 22.New York 25.Amsterdam 31.Stockholm Source: Mercer Consulting 2008

40 Among Europes best healthcare systems Source: Euro Health Consumer Index 2009, Health Consumer Powerhouse Sweden is ranked in the top ten among Europes healthcare systems and outperforms in the areas of treatment outcomes and range and reach of service provided.

41 How to establish a company ?

42 REGISTER WITH THE SWEDISH MIGRATION BOARD Work-permit or residence permit

43 What type of business? Sole trader Sole trader may be appropriate if you are going to start a business on your own. You are not required to put up any capital, but there is no clear dividing line either between you personally and your business with regard to finances Trading partnership / Limited partnership A trading partnership is an alternative if at least two individuals wish to start a business together. There is no requirement to invest capital, although the partners are personally, jointly and severally liable for the company's debts. Economic association Three people are required in order to start an economic association. An economic association must promote the economic interests of its members. This means that the members must benefit financially from their participation in the association. The benefit can, for example, be employment, a better price or lower costs. The size of the contribution each member has to pay can vary from one SEK 1 upwards. Limited liability company A limited liability company can be started by one or more individuals. When starting a limited liability company, you must have at least SEK 50,000 in share capital. Personal responsibility for the company's debts is in principle limited to the share capital. A limited liability company is represented by a board and in certain cases by a managing director (MD). Opening a branch A foreign company wishing to operate in Sweden without registering a subsidiary may open a branch. A branch is a foreign company's local office in Sweden with its own administration and corporate identity number.

44 How to buy a hi-tech company? No discrimination on foreign investors M&A process build on openness and transparency Contact a broker or a an investment bank.

45 The corporate tax in Sweden

46 Competitive corporate tax rate 2009, percent Source: Öhrlings PricewaterhouseCoopers, 2009

47 Tax relief for foreign key staff Sweden offers special income tax relief to encourage highly skilled people, such as international executives, experts, researchers and others with special skills, to work in Sweden and to make it easier for companies to attract experts and other key people from abroad to work in Sweden. Employees qualifying for the tax relief are taxed on only 75 percent of income in their first three years of employment in Sweden. The remaining 25 percent is tax free. The tax relief for key foreign employees also offers a financial incentive to employers, where the employer contributions are based on only 75 percent of total income.

48 The support system for SMEs Taking ideas to the market

49 Cities with science parks and incubators Source: Swedish Incubators & Science Parks, Invest in Sweden Agency Stockholm Karolinska Institutet Science Park Karolinska Institutet Innovation SU Innovation SSE Business Lab Stockholm Cleantech Park Stockholm Cleantech Park (Incubator) Kista Science City STING 28 Uppsala Uppsala Innovation Center 29 Västerås/Eskilstuna Idélab Munktell Science Park Create Business Incubator Teknikbyn Teknikbyn Inkubator 31 Örebro Inkubera

50 5. Choose type of finance? Own funds Bank loan (personal guarantee) ALMI loan Business angels VC firms Credit from suppliers Advances from customers Loans from the bank VC firms Vinnova Innovationsbron City of Stockholm

51 ALMIs role in the financial market Risk Interest/ return Bank ALMI Shareholder

52 Stockholm Business Region Development Address: Drottninggatan 33 Stockholm Phone Fax

53 Stockholm International Fairs 60 exhibitions per year 10,000 exhibitors per year 1,500,000 visiters per year ( )

54 Thank you! Stockholm Region Office in St. Petersburg Visiting address: Nevsky Prospect 1 Postal address: Box St. Petersburg, Russia Tel.: Fax:

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