Enhanced Perceptions Toward Entrepreneurship in Latvia Among Investors
The Baltic region took center stage on May 26, as key figures from Latvia, Lithuania, Estonia, the EU, and international representatives gathered for the conference titled "Beyond Borders: Investment & Security in the Baltics".
The event, which aimed to focus on the synergy potential and investment opportunities in the Baltics, was marked by a series of significant announcements. Reinhold Schneider, the Chairperson of FICIL's Board, spoke at the conference, emphasizing the importance of regional unity in the Baltics.
Schneider stated, "The Baltics' regional unity is not just a principle, but a strategic asset." He further noted that by working together, Estonia, Latvia, and Lithuania can create a more investment-attractive environment.
The conference also saw the presentation of the Sentiment Index Report, a joint initiative by FICIL, the Stockholm School of Economics in Riga (SSE Riga), and Riga Business School (RBS) of Riga Technical University, in collaboration with the organisation "Cercle Diplomatique". The report, available on the FICIL website (https://www.ficil.lv/sentiment-index/), revealed that the investment attractiveness of Latvia has improved significantly over the last year, with the Sentiment Index rising from 1.9 to 3.
Foreign investors praised the Latvian government's efforts in defence and stability, with approximately half of foreign investors in Latvia and Estonia, and about 38% in Lithuania, planning to increase their regional investment. Florian Schröder, CEO of the German-Baltic Chamber of Commerce, commented on these new business-survey findings, suggesting that the Baltics should improve their marketing to highlight the great investment opportunities they offer.
Schröder stated, "Businesses in the Baltics increasingly recognize the region's synergy potential in areas like digitalization, green energy, and infrastructure." He added that the Baltics should capitalize on these strengths to attract more foreign investment.
The Latvian Prime Minister, Evika Siliņa, also spoke at the conference, reiterating Latvia's commitment to being a safe and stable place to invest. She said, "Latvia is a safe and stable place to invest."
In 2024, foreign direct investment in Latvia reached more than 26 billion euros, which is 65.4% of the country's GDP. This significant investment underscores the confidence foreign investors have in Latvia's economic stability and potential for growth.
The conference concluded with a call to action for the Baltic countries to work together to create a more investment-attractive region. With the improving Sentiment Index and the increasing interest from foreign investors, the future of investment in the Baltics looks promising.
