The government of Latvia and foreign investors share a common goal — a strong and competitive Latvia where entrepreneurs can operate freely and the economy can develop, and this is possible even despite geopolitical challenges, emphasized Prime Minister Evika Silina ("New Unity") on Friday, opening a high-level meeting between the government and the Foreign Investors Council in Latvia (FICIL), reports LETA.
The Prime Minister outlined several key areas of government work that should contribute to achieving this goal.
The first of these, Silina mentioned, is strengthening the investment environment.
“Without this, I believe it is impossible to have a meaningful conversation about a competitive and development-capable Latvia,” she said.
Silina pointed out that she heads the Council for Major and Strategically Important Investment Projects, which has met six times since April of last year. The Council has addressed issues such as foreign investors' access to electronic signatures, permits for constructing wind farms, investment barriers from municipalities, as well as tax and territorial planning issues and other cross-sectoral matters.
The Prime Minister also highlighted the launch of the "Green Corridor" initiative — a support mechanism for entrepreneurs who are vital to the Latvian economy. She urged the Minister of Economics to further enhance this initiative.
The second area of government work that Silina mentioned is maintaining fiscal discipline and the budget for the next year. She reiterated her previously stated position that the 2025 budget is a budget for a safer future, while the main taxes are not increased in it.
The Prime Minister also listed specific measures included in next year's budget to support families and develop education.
The third area is the tax environment and fair competition. Silina emphasized that Latvia ranks high in the overall competitiveness ranking of OECD countries.
At the same time, she noted that work is still needed to reduce the level of the shadow economy.
Among the priorities in the government's work, Silina also highlighted reducing bureaucracy and other measures that will help develop the business environment. She thanked FICIL for its cooperation and investments in Latvia, emphasizing that the organization comes not with populist slogans, but with real ideas.
High-level meetings between the Latvian government and FICIL have been taking place since 1999. Their goal is to ensure a structured exchange of information and opinions between investors and local legislators to improve the business environment and further attract foreign investment to Latvia. These meetings involve representatives of the government, high-ranking officials, and leaders of companies that are members of FICIL.
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