A Region of Momentum and Scale

Latin America and the Caribbean (LAC) is a USD 6.8 trillion economy of 663 million people — a region of energy, innovation, and growing ties with Finland.
In 2025, LAC’s economy is projected to grow by +2.2%, with foreign direct investment up 7.1% in 2024 (USD 189 billion). The EU remains the region’s largest investor, with EUR 741 billion in FDI stocks.

The political landscape is shifting as several countries prepare for elections (Bolivia, Chile, Peru, Colombia, and Brazil), opening new windows for engagement. Key growth sectors include bioeconomy, energy, mining, digitalization, and healthcare — all aligned with Finnish strengths.

Finland’s Footprint in the Region

Over 220 Finnish companies have subsidiaries in LAC, and nearly 1,000 operate through partners. Together, they generate more than EUR 8 billion in turnover annually, with exports exceeding EUR 2 billion — mainly to Brazil, Mexico, and Chile.

Most LAC countries already have free trade agreements with the EU. The long-awaited EU–Mercosur deal is also moving forward, set to create the world’s largest free trade area and significant new opportunities for Finnish firms.

Finnish companies benefit from a wide range of financial tools — including the Finland–IDB Climate Fund, Finnvera, Finnfund, and the European Investment Bank. In this region, success is built on relationships, local presence, and long-term commitment.

🔹 Sector Snapshots

Healthcare – Digital Health on the Rise
An aging population and expanding middle class are reshaping healthcare. The sector is expected to reach USD 66 billion by 2033, with Brazil leading the way. Finnish company Planmed has grown impressively through strong local distributor networks — a perfect example of the power of partnerships. Healthcare investments in the region are more than 200 BEUR in next five years.

Digitalization – The Online Boom
With almost 600 million potential online consumers, Latin America is one of the fastest-growing digital markets globally. Finnish technology plays a key role: Nokia supports 5G deployment and has connected over 400 Amazonian communities with Global Fiber Peru. Digitalization investments are approximated to be more than 600 BEUR for next five years.

Energy – A Region Powered by Renewables
LAC has one of the cleanest electricity mixes in the world, with 60% from hydropower. Chile, Brazil, and Colombia are advancing ambitious green hydrogen and wind power programs. Finnish companies like Wärtsilä and Neste are active players — from expanding renewable capacity to developing circular economy solutions. Energy investments are more than 350 BEUR in next five years.

Mining – Sustainable and Strategic
Home to half of the world’s lithium and a third of its copper, LAC is central to the green transition. Finland, ranked #1 in mining investment attractiveness, is a natural partner. Business Finland’s new Mining Program strengthens cooperation and innovation in this strategic field. Finland’s role as invited country at Expomin Chile 2025 highlights this partnership. Mining investment pipeline in Latin America is more than 250 BUSD for next years.

Bioeconomy – Nature as an Economic Powerhouse
With 44% of its land covered by forests, LAC is rich in biodiversity and biomass potential. New pulp and paper plant investments are 23 Billion EUR for the next 5 years. Brazil leads regional bioeconomy efforts, with most investments. Finnish companies such as Valmet and Origin by Ocean are seizing opportunities in green industry and bio-based innovation.

🤝 Opportunities for Finnish Companies

Scale Up Brazil (applications until October 2025)
Finnish startups can apply for the APEX–Brasil Scale Up Program, offering soft-landing support, VC connections, and access to Brazil’s vast innovation ecosystem.

Finland–Chile Binational Alliance (2025–2030)
This USD 50 million initiative links VTT and Fundación Chile to boost co-innovation in sustainable mining, decarbonization, and climate adaptation — opening new opportunities for Finnish and Chilean firms alike.

🌍 In Latin America, relationships come before business — but once trust is built, partnerships last.
At Team Finland Latin America, we’re here to guide Finnish companies, connect them with the right partners, and open doors across this vibrant region.

🔗 For more insights, explore our: Team Finland LAC Business Guide (2025).pdf - Google Drive

Heidi Virta

Senior Director, Head of Region

Sao Paolo, Brazil

heidi.virta (at) businessfinland.fi

tel. +55 11 97851-8118

What’s Cooking in Latin America and the Caribbean?