The Sentiment Index event highlighted research findings on the assessment of the investment climate and administrative burden in Latvia.
In addition, there is information about the business and investment climate in wider Eastern Europe and where Latvia ranks, based on research findings of the German-Baltic Chamber of Commerce.
Following main presentations, a panel discussion and Q&A with ministers and public sector officials took place, moderated by journalist Jānis Domburs.
You can see the whole thing below, complete with English-language voiceover where necessary.
In its executive summary, the report says:
"The geopolitical situation stands out as the key factor that has negatively affected the investment attractiveness of Latvia during the past 12 months. Other factors, emphasised by the foreign investors, include a small domestic market, a shortage of skilled labour, increased costs, and an unfavourable legal/regulatory environment. In contrast, the ability to export, tax rates and quality of infrastructure are key factors that have positively affected the investment attractiveness of Latvia."
"The efforts of the public sector officials in improving the investment climate in Latvia are considered to be relatively poor. The overriding feeling is that there is a lack of action and a lack of visible progress. Investors point to a lack of a longterm vision/strategy for the country, a lack of motivation among the public sector officials to do their job well, and to a gap between the politicians/policy-makers and institutions that implement policies/regulations," says FICIL.
"The results of the 2023 FICIL Sentiment Index report suggest that, compared to the other Baltic States, Latvia has a much weaker innovation ecosystem, infrastructure, availability of labour, quality of education and healthcare system, and has fewer investment incentives.
"In contrast, based on the views of the foreign investors, Latvia appears to have more managers and provide a relatively good standard of living. When the foreign investors were asked “Does your company plan to increase investment in Latvia?”, 67% indicated that they plan to continue investing in Latvia.
