For country’s economics steadily growth and achieving the average level of EU economics, we have to increase productivity, volume of investments and prevent labor deficit. By stopping or limiting existing investment attraction programs, the economics will experience nosedive, says board member of Economists Association 2010, Mr. Edmunds Krastins.
Every nonresident, who is investing his financial resources in Latvia- purchasing, building, producing, helps economical growth- promoting working places, increasing average salary, paying taxes. “Instead of slowing down the programs, which are proven, we should support the productivity of innovative abilities for companies, we should train new specialists who will meet industry’s requirements and increase the capacity for current specialists. Only by intelligent using of existing resources and by strategic planning of economical activities, Latvia can be a considerable “player” and compete with other EU counties,” says expert.
Mr. Krastins points out: to make economical indicators of Latvia equal to average development level of other EU countries, for example Italy, the growth of our national economic should be based on preferable usage of existing advantages and farsighted and well considered decision making. To promote state economics we should use existing instruments- regulating acts should be made by evaluating their influence to national economics, they should not slow down the economical growth. Likewise reasonably should be used the allocated funds of European Union, which reached 5% level from GDP of Latvia in last few years. We should promote the ability to make innovations and find extraordinary business solutions, as well as to be aware of opportunities and advantages provided by geographical location.
“The economical advantage of Italy is a large domestic market, influenced both by geographical area of country and number of inhabitants. Like in Italy, the major resource is found in geographical situation and advantageous position concerning other countries. By finding and learning to use an advantage that gives geographical situation of Latvia, we could be the one of most significant economic corridors between EU and Russia, improving our economic performance,” comments Mr. E.Krastins.
The expert notes, that current economical situation in Latvia, comparing with other states of EU, is not flattering. For example, in Italy additional value of one working hour per person is four times higher than in Latvia, promoting higher rewards, profit, and production volume and treasury income from tax system. Noting that foreign investments makes the supreme part of “survival kit” of Latvian economics, decreasing of foreign investments would significantly slow down the economical growth of country, leaving negative influence on private and public sector.
The experts of Interbaltija Ltd have more than 20 year experience on real estate level. Interbaltija Ltd had successfully accomplished more than 16 real estate projects. The leading role in choosing projects always had played the location and only the location.