Today, on November 27th, Tatjana Guznajeva, the Executive Director of FICIL, joined the discussion on the programme “Krustpunkts” on Latvijas Radio, alongside LIAA director, Ieva Jāgere, Member of the Saeima Committee on National Economy, Jānis Pamalnieks, Luminor bank chief economist, Pēteris Strautiņš, and Chairman of the Board of AS “SAF Tehnika”, Normunds Bergs. The discussion focused on how Latvia succeeds in attracting foreign investors and on challenges they face in the country.  

Tatjana pointed out that Latvia lacks a long-term economic development strategy, which is crucial for developing a clear story on what advantages Latvia provides for investors. Moreover, she highlighted that the strategy would help to align policy goals across public sector institutions, encouraging the building of synergies. In view of Tatjana, the government should find the right approach that would both stimulate attraction of foreign investment and support the development of local businesses.   

Despite the challenges that the foreign investors face in Latvia, 67% of them plan to increase investments in Latvia. This is a good signal on existing strengths of Latvia as an investment destination – export opportunities, effective tax policies, good infrastructure (including digital), and a skilled workforce. As a small country, Latvia must focus on solving its challenges, while in parallel showcasing its strengths.  

For the full recap of the discussion, visit this site.