The City of Vaasa and the Ostrobothnia Chamber of Commerce investigate the sale of VAMK shares to the University of Vaasa

The City of Vaasa and the Ostrobothnia Chamber of Commerce are investigating the sale of their shares in VAMK to the University of Vaasa. At present, the City of Vaasa owns 84% of the shares in VAMK, while the University of Vaasa owns 8% and Chamber of Commerce 8%.

– The purpose of consolidating ownership is to make Vaasa and the Ostrobothnia region, not to mention Finland as a whole, a much stronger educational and research player in higher education. A basic requirement for becoming a successful region is having strong, business-integrated higher education. This is why we should determine what benefits consolidating ownership would bring both schools and how it could promote Ostrobothnia’s strong industrial growth even better, explains Mayor of the City of Vaasa, Tomas Häyry.

– The goal of this share trade is to develop the University of Vaasa and Vaasa University of Applied Sciences into a major international educator and, in particular, a major player in RDI. Increasing the offering of RDI and RDI actors for area companies and, in turn, strengthening the impact of RDI is the primary objective of this planned strategic move, says CEO of the Ostrobothnia Chamber of Commerce Paula Erkkilä.

– The goal is to make the entity, comprising the University of Vaasa and Vaasa University of Applied Sciences, into a major international centre of education and research by the 2030s and a more extensive and influential entity at the national level, explains Chair of the Board of the University of Vaasa Mari Kiviniemi.

Matters involving the share trade will be examined at the end of 2023. If the trade goes through, practical operative planning measures will begin next year in cooperation with the staff of the University of Vaasa and Vaasa University of Applied Sciences.