On Thursday, 31 May, in her address to participants of the 16th High Council meeting of the Foreign Investors’ Council in Latvia, Solvita Āboltiņa, Speaker of the Saeima, stressed that “Latvia will once again become a stable and predictable place for business and investment, a place where people can live in security, stability and prosperity”.

The Speaker emphasised that we are alive and free, and before us is the future which we ourselves have to shape. “Undoubtedly, we can already feel a certain satisfaction about what we have achieved, and our achievements are acknowledged by our foreign partners. Furthermore, while Europe is still undergoing reforms and observing strict discipline, we have found a possibility to reduce certain taxes. This is a well-considered step that no doubt is an achievement and proof of our growth,” Āboltiņa said to the participants.

The Speaker pointed out that Latvia’s experience can be useful to many countries: “One of the main lessons we learned was that it is impossible to overcome a crisis with merely strict financial discipline or reliance on foreign help. The key to success lies in the ability to make changes with our own hands. That requires understanding and support of the entire society; it requires people to be ready to take the path of austerity together”.

“The key to success also lies in partnership. You did not abandon Latvia at a hard time. It is not a secret that our state was driven into a deep economic and financial crisis not only by global processes but also by an ill-considered economic policy. However, at the decisive moment the government and investors managed to refrain from mutual blame-game. Instead, we shared a willingness and readiness to have an open dialogue on the most mutually beneficial solutions. Successful cooperation enabled us to jointly take the path of development, and it now allows us to talk about an economic breakthrough,” Āboltiņa said to investors.

That is also attested by the fact that according to Doing Business 2012, the ranking of Latvia jumped up 10 spots from 31 to 21, thus for the first time placing us ahead of the other two Baltic countries – Lithuania and Estonia, noted Speaker Āboltiņa. She also stressed that cooperation between Latvia and foreign investors is based on the win-win principle, and our state and investors will only benefit if Riga becomes a metropolis of the Baltics – place where entrepreneurs can not only develop their business in a stable and predictable environment but also enjoy internationally recognised arts and culture, establish contacts and feel that their families are welcome and have a sense of belonging here.

Saeima Press Service