Friday, the 21th of October, 2005
Credit risk rating kept
Credit risk insurance company Coface has kept the A3 rating issued to Latvia. The ratings show Latvian credit risk field is stable and transparent.
Thursday, the 20th of October, 2005
We are scaring off investors
Latvia is advertising itself as an investment-friendly country, yet it also places unnecessary limits on many investors not from EU. The procedure of receiving Latvian visa is unnecessary complicated, so many investors and tourists choose other countries. Bureaucracy makes any change harder, as the state officials simply point out the procedure complies with EU regulations.
Wednesday, the 19th of October, 2005
Bribes in Latvia will never disappear
Transparency International has published its Corruption Perception Index for 2005. Latvia occupies a traditionally low place; its index is 4.2 points, and it shares place 5154 with Costa Rica, Mauritius, and El Salvador. Politicians point out that the index has decreased for 2 times during 6 years, and the Prime Minister Aigars Kalvitis believes the information is misleading since it only shows perception, not the real situation, and perception is influenced by careless and misleading speeches of politicians. However, Latvian businessmen beg to differ, pointing out that politicians are not interested in lowering the corruption level.
Biznes & Baltija
Tuesday, the 18th of October, 2005
Reform delayed for now
The Saeima has decided not to introduce a 15 per cent income tax in 2006 or a progressive income tax. Many politicians support 15 per cent income tax, but admit it cannot be done in 2006. The progressive income tax is a less popular idea. Starting from January 1, 2006, there will be no income tax on income from rural tourism if the income does not exceed LVL 3,000 a year.
Monday, the 17th of October, 2005
Food export growth is fast and stable
Latvian food producers have invested significant work in improving their competitiveness, and results are clearly visible; the export in the first 6 months of 2005 has been LVL 136.0 million, as compared to LVL 84.0 million in 2004. However, import is still larger than export and is LVL 245.5 million for the same time period. The export relies heavily on individual producers, and improvements in their business significantly influence overall export. The fish product export has changed considerably; due to insufficient amount of local fish, the production of relatively expensive fish products is increased.
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