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Latvian PM promises foreign investors to continue improving judicial system

Nina Kolyako, BC, Riga, 13.01.2012.Print version
Work must continue on a number of issues for further improvement of Latvia's economic environment, for example – the country's judicial system needs to be upgraded due to constant complaints about long and unpredictable legal proceedings, Prime Minister Valdis Dombrovskis (Unity) announced after today's meeting with the Foreign Investors' Council in Latvia (FICIL).

Valdis Dombrovskis at the meeting with the Foreign Investors' Council in Latvia. Riga, 13.01.2012. Photo:

It is also necessary to continue improving tax policy and gradually reduce taxes on labor, reports LETA.

At today's annual meeting between the Latvian government and FICIL, various topical issues and implementation of the government's decisions were discussed, as well as Latvia's energy and tax policies, explained the prime minister.

FICIL Chairman Ahmed Sharkh told reporters that the cooperation between the investors and the government has always been good and constructive so far, and he can only laud the government's achievements over the past few years. The investors have also established a successful dialogue with the Latvian ministries.

Latvia has done a tremendous job, improving its economic and legal environment; Latvia is in a much better position than other countries, emphasized Sharkh.

At the meeting today, the sides also discussed the insolvency case against Palink, the operator of "Iki" and "Cento" chain stores.

As reported, the high-level meetings between the government of Latvia and FICIL have been taking place annually since 1999. The objective of the dialog between the government and the foreign investors is to improve the business environment and encourage foreign investments in Latvia.

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