NOK Nokia Corp

LONDON--Finland can turn the crisis at Nokia Corp. (NOK) into an opportunity for economic growth, a government minister said Monday.

The communications company's problems and subsequent layoffs have had a big impact on Finland, economy minister Jyri Hakamies said in a speech at the Royal Institute of International Affairs, or Chatham House.

But he said the company's assets could also be put to use in innovative sectors like high-tech health services and clean energy.

"I believe that we can turn Nokia's current crisis into new opportunities and spread the highly skillful talent and innovative capacity to other sectors," he said.

Write to Alex Brittain at alex.brittain@dowjones.com