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Monday 27.01.2020 | Name days: Ildze, Ilze, Izolde

Deifts: There won’t be an economic growth in Latvia in the following years

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The head of logistics company Dominante Capital Rafails Deift

The head of logistics company Dominante Capital, Rafails Deift, is of the opinion that Latvia will have to wait for economic growth.

Deifts explained to the newspaper Telegraf that the success of logistics sector in Latvia mainly depends on the service providers, not on country’s economic situation, which is not expected to improve in the following years.

«The crisis in logistics sector is over, but the real estate business will remain desolated for several years, and, due to the politics of Swedish and other banks, as well as, to one of the former governments, it will not stabilise so soon, » believes the chief executive of Dominante Capital.

He also thinks that, at the present moment, Latvia is occupied by international funds, and is highly influenced by banks. «If crucial changes will not take place, it is hardly expected that Latvia will await rapid economic growth. It is also not included in the plans of creditors, because their task is to recover the money, caused by banks and the former governments. We are out of the crisis but it is too soon to talk about growth. While the crisis in the real estate industry will continue as long as banks will not recover their losses, maintains Deifts ».

He adds that any competition is two-faceted: «there is always either little food or many «eaters» in the market, therefore, competition is not always a bad option, and not always – a good one. Although, in general, competition is not a problem, as it provides conditions for us to be better, quicker and less expensive. »

At the same time, Deifts emphasized that it is difficult for him to comment on the business perspectives of logistics in Latvia, or claim that Latvia is the most appropriate place for this kind of business.


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