The Estonian government is about to disburse 300,000 euros this year as a measure aimed at promoting the development of the defense industry, Defense Minister Urmas Reinsalu said.
Estonia to give defense industry EUR 300,000 development support this year
6th April 2013, 10:13
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"The competition for development support announced at the beginning of the year that is now in the phase of filing of applications is meant namely for entrepreneurs, to whom we will disburse up to 300,000 euros in support this year," Reinsalu said in his speech at the annual meeting of the Estonian Defense Industry Union (EDIU).
The minister said that because of the small size of the Estonian domestic market defense industry enterprises here must be able to export. Besides, having experience in international product development and marketing will enable to offer better products to the Estonian defense forces, he said.
Reinsalu expressed hope that the voice of Estonian entrepreneurs will be heard more than so far in the discussion about the development of the defense industry in the future. He also said he sees the defense industry as having an important role in the development of the national economy.
"I wish that there were more companies in Estonia that are managed from Estonia and the value created by which remains in Estonia. It is also a role of the defense industry to promote the national economy, giving the people of Estonia employment and wealth," he said.
The EDIU and the Estonian defense forces are scheduled to sign a cooperation memorandum during Wednesday's meeting.