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President, CEO Leppävuori, VTT: Finland should create a national bioeconomy strategy
Date:4/12/2012

We must react to the sudden structural changes taking place in the Finnish IT sector and in traditional forestry industry. For Finland to succeed new business and service ecosystems must be developed. Bioeconomy has the prerequisites for becoming a successful example of this for Finnish business life. This will, however, require a functioning collaboration network and our own bioeconomy strategy.

On 12 April 2012, during the VTT Bioeconomy Forum Finland event in Helsinki, the President and CEO of VTT opened discussion on bioeconomy strategy and establishing a various partnership networks.

Bioeconomy has all the prerequisites for creating a radical increase in the value of exports and for developing into a new pillar of support for wellbeing in Finland. This will require the making of choices, the taking of risks, and the development and marketing of bioeconomy-based technologies.

According to expert assessment, by 2020 new technological solutions and diversification could, for example, raise Finland's current forest industry production by 6 billion euros (equal to an increase of 22% compared to 2010 level).

Fossil energy and material resources are shrinking, environmental problems are getting worse, and global population growth continues. On a global scale, adjusting to these developments requires radical changes to production methods, to the use of raw materials, and to living habits in general. Bioeconomy provides an answer to many of these challenges, and creates new business.

The forest industry, for example, can expand its current operations into the production of composites, biofuels and biochemicals, and into service businesses. This would also bring about a corresponding growth in sector profitability.

"I believe that Finland, thanks to its competences and raw materials, can become a future leader in bioeconomy, and create success and wellbeing for itself. The task requires a new way of thinking and
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Contact: Erkki KM Leppvuori, President and CEO
erkki.leppavuori@vtt.fi
358-207-224-100
VTT Technical Research Centre of Finland
Source:Eurekalert

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