Covid-19, EU – Baltic States, Financial Services, Investments, Latvia

International Internet Magazine. Baltic States news & analytics Friday, 30.10.2020, 11:47

Foreign investments in Latvia not to grow considerably, but no steep reduction is expected

BC, Riga, 23.09.2020.Print version
Along with the Covid-19 crisis, most believably, foreign investments in Latvia will not grow considerably, but there is not steep reduction expected, either, said Gunta Jekabsone, the board chairwoman of the Foreign Investors' Council in Latvia (FICIL), in an interview with LETA.

She said that foreign investors like the rest of the society do not know how the Covid-19 situation will develop in the future, but they commend on the government's performance in the past few months.

"We do not know what the autumn will bring, we do not know when there will be a Covid-19 vaccine, investors at present are cautious with their investments. Even though there are some investors who planned to increase investments in the coming years, much should be done to keep the existing investors, thinking also about attracting new ones," said Jekabsone.

She was evasive about the total amount of investments in Latvia this year. 

"I will be surprised if the investments will grow considerably this year, but I do not predict a radical drop in investments, either. It is important to work on keeping the existing investors. All countries will have funds available for economic recovery, there will be tough competition for investors. We have to make very smart and fact-based steps," she said. 

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