Ilkka Lakaniemi (1/4): Allure of a Good Business Enivronment
Channel: World Bank Group Jobs
Date: 2012-05-24

Ilkka Lakaniemi, Director of global policy initiatives for Finland's Nokia Siemens Networks, discusses the benefits of a supportive business environment in individual labor markets.

Innovation is the most important ingredient to supportive business environments, says Lakaniemi. By investing in, and locating innovation in countries with an "enabling" business environment, countries can tap educated and skilled workers while attracting companies with high-paying jobs.

In addition, he thinks solid governance is important to stimulate investment. This broad term can mean positive incentives for locating new manufacturing facilities or a good talent pool within local universities to build future partnerships and identify future ideas.

Finally, Lakaniemi says, a solid regulatory environment can help businesses grow. Markets should have competition that creates new ideas, new companies , and demand for new types of services and innovations.