|WEEK 2nd 2004.
Thursday, the 8th of December, 2004
Russian investments doubled in the capital of Latvian companies
According to the data at Lursoft, the investments of Russian residents in Latvian companies have increased from LVL 6.3 million to LVL 12.8 million last year. The experts explain the increase with Latvia's accession to the EU and NATO and the convincing economical development. The financial experts interviewed by the newspaper point out that the official statistics show only a small part of the Russian investments in Latvia. Large amount of these investments come through companies registered in other countries but Russia. Currently Russia is the fourth largest investor in Latvia.
Investors' priorities in 2004: real estate, retail and pharmacy
According to international surveys, Latvia, Czechia and Estonia will be the most attractive EU candidate countries for investments after May 1, 2004. The financier and the director of the corporative finances of the company Prudentia, Juris Eizentals, believes that the real estate, the retail and the pharmacy will receive the majority of investments next year. A growth in the volume of investments in production is possible as well.
(Biznes & Baltija)
Tuesday, the 6th of December, 2004
Accept SMC support plan
On January 5, a government commission has accepted the guidelines of the Latvian small and middle size companies (SMC) policy. The goal of the guidelines is to create an advantegous entrepreneurship environment, to ease the access to the financial resources for the beginners of SMC, and to increase the competitiveness of the SMC. The guidelines anticipate co-financing for development of SMC's new products, and support programs for special target groups. The state budget has not been allocated any financing for execution of the program this year. The money will be found in the EU funds and in the national co-financing for funds' acquiring.
Monday, the 5th of December, 2004
Number of new companies increased by 22 percent last year
The number of the new companies registered in 2003 increased by 22 percent compared to 2002. According to the Register of Enterprises, this is a positive result, because since 1992 the number of the companies registered in Latvia was decreasing with every year. The number of companies registered in 2003 is the largest in the last three years. The Chief State Notary, Janis Endzins, points out that it is connected with the economical development of Latvia, the accession to the EU, the decrease of bureaucracy obstacles in the commerce and the improvement of the state commercial policy.
According to the Ministry of Finance, the level of the economical activity was rather high in November. It increased by 7.7 percent. The increase of the retail turnover contributed to the growth of the economical activity the most.
Baltic Weekly MonitorAIC WEEKL