After talks with German investors PM Silina sees potential for faster expansion of cooperation

RIGA - Latvia is an attractive environment for German businesses, and there is potential to develop even closer cooperation by attracting more investment, Prime Minister Evika Silina (New Unity) said Friday after a meeting with German investors in Berlin.

As LETA was told at the State Chancellery, Silina met with the German investors that are already investing or have shown interest in doing business in Latvia. The meeting was joined by entrepreneurs representing the food, technology, construction, chemical, aviation, financial and defense industries.

According to the prime minister, German companies appreciate the government's efforts to cut red tape and support to financial instruments for large investment projects.

"German investment in Latvia continues to grow, and there is a potential to expand cooperation event faster," the prime minister said.

Silina indicated that defense and digital companies showed the strongest interested in the development of manufacturing and services in Latvia. "This means that Latvia's interest in faster development of the military industry and the digital sector has also been heard," said Silina.

Germany is also Latvia's second largest trading partner, the State Chancellery noted.

The State Chancellery noted that one of the government's priorities for this year is the fostering of economic growth. Attracting investment, developing entrepreneurship and providing new jobs for people in Latvia are also key to achieving this goal. The State Chancellery said that the prime minister's visits abroad include regular meetings with foreign businessmen.

The State Chancellery also noted that meetings of the Coordination Council for Large and Strategically Important Investment Projects are held under the prime minister's chairmanship. The aim of the council is to facilitate the attraction of large investments to Latvia by helping to resolve cross-sectoral issues and easing the administrative burden for large investment projects.

The prime minister met with the German investors on Friday in Berlin during a working visit ahead of the Henry Kissinger Prize award ceremony. At the event, Silina will be presented with the prestigious award for her contribution to transatlantic ties.