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Sunday 04.12.2016 | Name days: Baiba, Barba, Barbara
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Volume of direct foreign investments rapidly declines in Latvia

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe volume of direct foreign investments in Latvia has declined rapidly in the first half of 2016, as the Saeima was informed by Economy Ministry and Investment and Development Agency of Latvia on Wednesday, 21 September.

The Saeima was presented data on LIAA’s attracted direct foreign investments, not the general attracted investments in the country.

Economy Ministry’s deputy state secretary Raimonds Aleksejenko said the flow of direct foreign investments in Latvia is three times lower in comparison with the pre-crisis period. Nevertheless, this trend is noticed in all Baltic States. According to the ministry’s representative, Latvia received the most investments from countries like Sweden, Cyprus, Netherlands, Germany, Estonia and Lithuania.

LIAA representative Ivars Erkskis informed members of the Saeima that ten investors had made investments choices in favour of Latvia in the first six months of 2016 (31 in 2015). In the first half-year of 2016, Latvia was visited by 44 potential investors (168 visits in total last year).

The total volume of direct foreign investments in Latvia was EUR 11.52 million in the first six months of 2016 (EUR 37.08 million last year). As a result of direct foreign investments, 250 new jobs were created in Latvia in the first six months of 2016 (630 in total last year).

Erkskis mentioned Tele2 and its new divided services centre, Lindrom textile plat and N2 Global fire extinguisher production plant as good examples of foreign investments.

LIAA representative added that talks with multiple potential investors continue. He did not mention any names.

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