bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Sunday 25.08.2019 | Name days: Patrīcija, Ludis, Ludvigs, Ivonna

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

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

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.


Leave a reply

Hot weekend ahead in Latvia

Over this weekend, in Latvia, a wide anticyclone will determine the weather keeping the sunny and mostly dry weather of Friday, according to the Latvian Environment, Geology and Meteorology Centre.

IKEA to land in Estonia from next week

Swedish furniture design and retail chain IKEA plans to enter the Estonian market on August 29. According to the firm, it would first open an online store.

Levits: People on Baltic Way melted totalitarian regime in their hands

During the Baltic Way people melted a totalitarian regime in their hands, said Latvian President Egils Levits at the occasion of the 30th anniversary of the peaceful mass demonstration marked at the Castle of Riga.

Turn in high-profile court saga: Ventspils mayor receives state lawyer

The mayor of the Latvian port city Ventspils, Aivars Lembergs, who is charged with serious crimes and has been suspended from office, has been appointed a state lawyer in the long court process that has had many delays.

No obstacles to Riga signing waste contract on 20 years, says ministry, despite probe

Latvian Ministry of Environmental Protection and Regional Development has stated that the plan by the Riga City Council to award a waste management contract on 20 years is not against the law, despite competition regulator investigating alleged violations.

Riga pledges to increase use of Latvian in its kindergartens

The Riga municipality will continue increasing the use of the Latvian language in the kindergartens of the capital, the responsible department of the Riga City Council has stated in reaction to calls to switch all kindergarten groups to the official language.

France supports new, short Brexit talks for UK to leave with deal

Emmanuel Macron of France supported new, month-long Brexit negotiations to avoid a no-deal Brexit, but was against the removal of the Irish backstop from the deal – a key demand by his guest British Prime Minister Boris Johnson.

Lithuania backs Sinkevičius as European Commission nominee

The Lithuanian parliament on Thursday, August 22, voted to support Virginijus Sinkevičius, the Lithuanian Minister of the Economy and Innovation, as the country’s pick for the next European Commission.

New member of Riga Freeport board rushes to meet controversial Šlesers, TV3 Ziņas says

Riga councilman Sandris Bergmanis has a day after being elected to the board of the Freeport of Riga Authority met with businessman and former Latvian minister Ainārs Šlesers, according to the news programme TV3 Ziņas.

Latvian power production drops to lowest level in year

Energy companies in Latvia produced 357 655 megawatt hours of power in July, which is the lowest level of national power output since July 2018. This allowed to cover 64% of the Latvian electricity consumption, according to AS Augstsprieguma tīkls.

Compensation payments of defunct Latvian PNB Banka begin

With operations of the Latvian bank, AS PNB Banka, stopped, the process of paying the guaranteed compensation to its clients has begun on August 22, according Citadele, the lender tasked with the payments.

Riga planning to introduce tourist fee – one euro per day

The Riga City Council is discussing a plan to introduce a tourist fee charging all places of tourist accommodation a fee of one euro per day.

Expert: With Belarus electricity freezing Baltics’ solidarity, Moscow is over the moon

In a blow to Lithuania’s far-reaching plans, Latvia has announced it looks forward to buying electricity from a nuclear power plant in Belarus’ Astravyets under construction 50 kilometres away from Vilnius.

WHO: Little risk from microplastics in drinking water

The World Health Organization has declared that the current level of microplastic particles in drinking water does not pose is not a serious risk for health, yet more research was necessary to determine their effects on human health.

Subsidies to controversial Riga transport company could increase by EUR 20 mln

Amid the criticism of the Riga municipal transport company Rīgas satiksme for its losses and their effect on the Latvian state budget, a plan has been voiced to increase its subsidies, now 120 million euros, by another 20 million euros, Latvian Radio reports.

Latvian Minister keeping adviser detained by corruption watchdog for now

Latvian Agriculture Minister Kaspars Gerhards will clarify the reason, why his advisor and the mayor of the city of Ogre, Egils Helmanis, has been detained by corruption investigators, to decide on keeping him in office.

Trump, Macron willing to readmit Russia to G7, despite Crimea annexation

The leaders of France and the United States have expressed their backing to readmitting Russia to the G7 conference of world powers in 2020, despite Ukraine’s Crimea still being held by Moscow, CNN reports.

Latvian excise tax income up by 8% in first half of 2018

The Latvian excise tax income in the first half of 2019 has been 521 million euros, –an increase by 39 million euros, or 8.1% – compared to the respective period last year, showed data by the Latvian State Revenue Service.

Latvian PM: Most of freely available 2020 budget funds already earmarked

Discussing the 2020 Latvian national budget, Latvian prime minister Krišjānis Kariņš pointed out that its fiscal space is limited by previous decisions and that the expected losses of the Riga transport company will not permit raising wages and pensions nationally.

Corruption watchdog detains Ogre city mayor Helmanis

The Latvian Corruption Prevention and Combating Bureau has on Wednesday detained the mayor of central Latvian city of Ogre, Egils Helmanis, according to LETA news agency.

New members to Freeport of Riga Authority elected, despite criticism

The Riga City Council elected to the Board of the Freeport of Riga Authority, mayor Oļegs Burovs and councilman Sandris Bergmanis, despite heavy criticism of the latter for incompetence and lack of vision.

Italy loses government, coalition of right-wing, anti-establishment parties collapses

Italy has lost its government with Prime Minister Giuseppe Conte announcing resignation after the right-wing League party pushed for no-confidence motion to its own government.

Kaljulaid opposed to Estonian minister after police chief scandal

Alleging that Estonian Interior Minister Mart Helme has violated the law by trying to sack top police chief, Estonian President Kersti Kaljulaid has stated that the minister has no place in the government.

Planned Latvian economic cases’ court conceptually backed by government

The plan by the Latvian Ministry of Justice to establish a court of economic cases has on Tuesday, August 20, been supported by the Latvian Cabinet of Ministers.

Newest comments