Factsheet: Act on regional development

Act on regional development

Key Information
Full name of Instrument & Measure (English): 
Act on regional development (1651/2009)
Full name of Instrument & Measure (native language): 
Laki alueiden kehittämisestä (1651/2009), Laki alueiden kehittämisestä ja rakennerahastotoiminnan hallinnoinnista (7/2014), Laki alueiden kehittämisen ja rakennerahastohankkeiden rahoittamisesta (8/2014)
Description: 
The purpose of this Act is the establishment of a regional development system, based on interaction and networking, that creates the preconditions for the balanced development of different regions and wellbeing based on sustainable development and economic growth. This Act applies to the development of the regions, the preparation and implementation of plans and programmes concerning regional development, and the coordination and monitoring thereof. The provisions in the Structural Fund Act (1401/2006), or her acts, apply to the implementation of programmes co-financed from Structural Funds of the European Community and the management of funding from structural funds and the corresponding national co-financing. Regional development objectives are 1) to strengthen the national and international competitiveness of regions; 2) to promote an economic balance and the development of industrial and commercial activity; 3) to promote sustainable employment; 4) to reduce differences between and within regions in terms of their level of development and enhance their own strengths and specialisation; 5) to promote the wellbeing and competence of the population and to support the regional culture; 6) to enhance the quality of the living environment and a sustainable regional and community structure.
Goal/Aim: 
Stimulate sustainable regional development.

Sector/Topic targeted:

Responsible Authority: 
The Ministry of Employment and the Economy

Status:

Year Instrument & Measure Started: 
2009
Year Last Instrument & Measure was last Amended: 
2014