Strategical investors from Russia have just recently started to mull over also Latvia, while international rating agencies’ upgrades will attract investors also from western Europe, Vadims Jerosenko, financial expert and Board Chairman at the consulting firm Laika Stars, told the business news portal BNN.
What are the recent key events in your industry?
Finance and investments sector I represent is, first and foremost, glad about the fact Latvia’s credit rating has been raised. Undoubtedly, it gives way to a friendly environment for invetsments and also helps western European investors decide where to place their funds. Credit ratings is the most crucial thing they care about and they have again started to consider Latvia as a potential place for invetsments.
Speaking about the east, the good news is strategical investors from Russia have started mulling over Latvia. What I mean here is not financial investors who aim for as great yield as possible, but strategical ones who place funds in specific sectors.
Do you lack qualified workforce?
Given the fact I am interested in the whole national economy in general, not just my sector, I believe the greatest problem is that the state has specified its priority sectors, yet not a thing is done to educate specialists necessary for them.
What changes would you like to see in the Latvian legislation?
From the perspective of business and national development, the most important thing is to reform the tax system. It must be clear that taxes can no longer by raised while we are slowly emerging from the crisis. The higher the taxes, the less money in circulation, not vice verse. There is already obvious correlation between turnover and taxes. I the state keeps raising taxes, businessmen will simply move to other countries and Latvia will round up as a loser.
What impact did the crisis have on your sector?
Since the company provides business and management consultations, there was a growing number of people in a need for a financial consultation.
When could your company return to the pre-crisis performance?
It depends on our working ability.
What is your assessment on the government’s policy to boost the economic situation?
I feel we do not have any determined and rational economic policy.