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WEEK 44th 2004

Friday, the 29th of October, 200

EU improves work of one third of food producers
The first half of 2004 did not bring any significant changes in the work of 44% of Latvian food producers, according to the opinion poll conducted by Agricultural Market Promotion Centre. 35% of the enterprises admitted that the situation improved, and 14% gave a negative evaluation of this period. Grain and milk processors are satisfied with their work within the EU more than others. On the other hand, meat processors, as well as smaller companies, which had to invest more for fulfilling the EU-requirements, are not satisfied. In total 200 Latvian food producers took part in the opinion poll.

Wednesday, the 27th of October, 2004

Discharges the employees
Textile producer Lauma is going to discharge approximately 29 employees, to sell one of its buildings, where a club is located, and liquidate its structures, which are not linked directly to the production. According to the executive director of Lauma, Edgars Stelmahers, the structural changes within the company are necessary for its adjustment to the Western standards. In 2005 Lauma plans to invest in the production EUR 4.49 million. The company also increased its prices by 2-3% due to the growth of production expenses.
Dienas Bizness

Duty is cancelled
Latvian government decided to cancel passengers duty, which is paid by everyone who leaves the country by plane. The initiator, the vice-PM Ainars Slesers, thinks that it will lower the prices of flights and attract more cheap air-companies. The duty will be cancelled starting from the November 1, 2004. Since this date the operators also will be able to receive discounts depending on the number of their passengers to be served per year.
Kommersant Baltic Daily

Tuesday, the 26th of October 2004

It is easier to postpone euro
During the 10th conference ‘Banks and Finances in the Baltic States’ Latvian PM Indulis Emsis said that the government is doing everything to slow down the speed of inflation. However, the Minister of Finance, Oskars Spurdzins, stated that the increase in prices does not depend on the government. For example, the Cabinet of Ministers reduced VAT for a number of services from 9% to 5%, but these services did not become cheaper. In total 350 participants took part in the conference, among them high officials, representatives of banks and financial companies, as well as directors of large enterprises.

PEAB stops its business
The third largest Scandinavian construction concern, PEAB, decided to stop its construction business in Latvia. Its Latvian branch company, J.O.Z., will be liquidated until the beginning of 2005. However, the director of J.O.Z., Karlis Plensners, stated that PEAB would remain in Latvia as a holder of real assets. The concern also plans to create a new enterprise, PK Serviss, which should overtake a part of J.O.Z. business, but not its liabilities.
Dienas Bizness

Monday, the 25th of October, 2004

The Spanish are interested only in profit
After the meeting with Latvian businessmen the head of Granada Employers Confederation, Antonio Carillo Alcala, said that the beautiful words do not have any weight, because the most important is Latvia’s possibility to offer goods for lower price. His assistant, Artur M. Van Allen, said that not only importers, but also Spanish producers are ready to cooperate with Latvian colleagues. They even could open their factories in the Baltic country. Two Spanish timber importers expressed interest in buying Latvian timber. The vice-chairman of the board of the medicine producer Grindeks, Vitalijs Gavrilovs, stated that he had reached a verbal agreement with two Spanish pharmaceutical companies, Confamadera and Braquifarm, on production supply.
Dienas Bizness

Bureau of technologies transfer
A new structure for introducing the innovations to be created in Latvia, the Bureau of Technologies Transfer. The Ministry of Economy stipulated EUR 194.9 thousand for this purpose, so that the innovations could bring incomes. The Bureau could become a kind of connection between the scientific organizations and enterprises, which would use the new inventions in the production.
Kommersant Baltic Daily

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