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Estonia tipped as good forestry investment location
17/07/2009
An environmental expert has tipped Estonia as the up-and-coming focus for people looking to make forestry investments in emerging markets.
Hadley Barrett, chief executive officer of the Oxford Sustainable Group, told Investment Week that, despite the recession, Estonia was actually in a better position to attract forestry investors than many of its neighbours: "Its low asset prices and low wages give it a strong economic competitiveness within the EU block and growth will be stimulated by its zero per cent debt overhang," he said.
Barrett added that the lack of any debt overhang was a major factor in Estonia’s favour, because it would ensure the country was able to achieve stronger gross domestic product growth than its rivals when the recession comes to an end.
The outlook for Estonia is not all positive however: last week, it was revealed that Estonia's trade deficit hit a record low in May of this year. The figure of six hundred million kroons (£32 million) was 30% lower when compared to May 2008.
Hadley Barrett, chief executive officer of the Oxford Sustainable Group, told Investment Week that, despite the recession, Estonia was actually in a better position to attract forestry investors than many of its neighbours: "Its low asset prices and low wages give it a strong economic competitiveness within the EU block and growth will be stimulated by its zero per cent debt overhang," he said.
Barrett added that the lack of any debt overhang was a major factor in Estonia’s favour, because it would ensure the country was able to achieve stronger gross domestic product growth than its rivals when the recession comes to an end.
The outlook for Estonia is not all positive however: last week, it was revealed that Estonia's trade deficit hit a record low in May of this year. The figure of six hundred million kroons (£32 million) was 30% lower when compared to May 2008.
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