Financial Services, Good for Business, Investments, Latvia, Markets and Companies

According to Lursoft, during the last 20 years, the majority of investors invested money into Riga companies – LVL 3.149 billion, also companies in Kekava Region – LVL 0.133 billion, Ventspils – LVL 0.113 billion, Marupe Region – LVL 0.094 billion, and Daugavpils – LVL 0.066 billion, informs LETA.

In the last 20 years, apart form the largest cities and regions around Riga, in some regions the amount of foreign investment has not even exceeded LVL 10,000. From the beginning of 1991 to July 21, 2011, for example, foreign investment in the share capital of companies registered in Riebinas Region was only LVL 700.

Overall, the highest increase in foreign direct investment was registered in 2007 – 31.23%, whereas the second highest was registered in 2009 – 26.89%.

According to the data from Lursoft, since 1991, the majority of investment went into banking companies. LVL 0.662 billion was invested in Swedbank, LVL 0.134 billion – in DnB NORD Banka, and LVL 0.102 billion – in SEB banka. Apart from the banking sector, LVL 0.071 billion was invested in the electronic communication company Lattelecom, and LVL 0.069 billion – in BITE Latvija.

At a meeting of experts of the Bank of Latvia at the beginning of summer, the participants in the discussion about investment in Latvia after the global financial crisis concluded that investments in Latvia are negatively influenced by corruption, political instability and inconsistency of taxation policy, stressed Lursoft.