Reval Hotels
Pietari Express
 Observer Latvija SIA

WEEK 50.2005

Friday, the 16th of December, 2005

Dummy firms: from dusk till dawn
The Register of Inhabitants of Latvia suggests that 2.8 per cent of all the firms in Latvia have chairmen that are considered dead. This suggests they might be dummy firms, but the Latvian law does not even define what a dummy firm is. Therefore, it is very hard to prosecute them. There are severe punishments for counterfeit business deals, but they are rarely enforced because of considerable legal loopholes. The Ministry of Economy is working on a programme to fight dummy firms, but the process is slow.
Biznes & Baltija

Thursday, the 15th of December, 2005

Latvia is gradually losing its cheap labour force status
Latvia is slowly losing its status as a country of cheap and skilled labour force; the number of the unemployed people is decreasing, economy is developing and new jobs are created. However, the labour force goes to other countries. The trend will become even stronger as more countries open their labour market. Companies have to take it into consideration, because lack of labour force can considerably hinder the further growth of company.

Wednesday, the 14th of December, 2005

Have the investments stopped?
During the first 10 months of 2005, Latvia has received EUR 430.91 million of direct foreign investments, which is by 6 per cent less than in the first 10 months of 2004. The direct investments of Latvia abroad have increased by 15.2 per cent and have reached EUR 85.32 million.

Tuesday, the 13th of December, 2005
The Baltic States are trading with deficit
The volume of Latvian export and import for the first 10 months of 2005 was lower than that of Lithuania and Estonia. In Latvia this index was EUR 2.948 billion, in Lithuania EUR 6.653 billion, and in Estonia EUR 4.405 billion. Latvia imported goods for EUR 4.822 billion, Lithuania for EUR 8.659 billion, and Estonia for EUR 5.799 billion.

Monday, the 12th of December, 2005

Latvia is among leaders
Latvia has maintained its leading position among the Baltic States in the growth of GNP. It has grown by 10.1 per cent in the first 9 months of 2005 in comparison with 2004. GNP was influenced mainly by growth in sales, transportation and communications industry, as well as construction sphere. The experts admitted that the growth within industry is especially important for Latvia, and it was a good result.
Dienas Bizness

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