State business operations
The State of Finland owns shares in about 30 companies. State ownership steering is the responsibility of the Ownership Steering Department at the Prime Minister's Office.
Companies that are wholly owned by the state or where the state has a controlling interest include the Posti Group Plc, Fortum Plc, VR Group and the Finnish Broadcasting Company. There are many reasons behind state ownership in Finnish companies. They include the safeguarding of certain services, balanced development of all parts of Finland or security of supply during emergencies. The State of Finland is also a minority shareholder in a number of companies.
Most of the companies wholly or partially owned by the state compete in the markets with other companies. However, such companies as Alko Inc and Veikkaus Oy have a statutory monopoly in their sectors.
The State of Finland has been a business operator for about one hundred years. The aim of the state to promote industrialisation in Finland has been one reason for the establishment of state-owned companies. The State of Finland has also established the infrastructure in many areas of transport and telecommunications that was not commercially viable at the time of the establishment.
The State of Finland has gradually reduced its ownership in companies since the 1980s.