Kucinskis at business forum in Poland touts Latvia as one of best countries for developing business

  • 2017-01-26
  • BNS/TBT Staff

RIGA - Latvia is one of the best countries for developing a business, Prime Minister Maris Kucinskis (Greens/Farmers) said as he opened a Latvian-Polish business forum in Warsaw today.

Addressing the audience, Kucinskis said that services, especially emerging ones, are playing an increasingly important role in the global economy's transformation process, and this is directly related to the technology and data revolution.

The prime minister said that Latvia is one of the best places for developing a business, noting that much has been done in the past three years to boost Latvia's competitiveness. Latvia joined the eurozone in 2015 and successfully handled its first presidency of the Council of the EU in 2015. Last year, Latvia was admitted to the Organization for Economic Co-operation and Development (OECD) and has now climbed to 14th place in the latest Doing Business rating.

Kucinskis also pointed out that Latvia has adopted a special law to provide government support to startups and facilitate their creation, which also means opportunities for closer cooperation between Latvian and Polish startup businesses, operating in sectors like ICT, which Latvia has defined as one its areas of economic specialization.

Thanks to the convenient geographical location of Latvia and Poland and their successful cooperation, the transport and logistics industry provides a significant contribution to both economies, Kucinskis noted.

The Latvian prime minister said that Rail Baltica European-gauge railroad will also help promote closer cooperation between the two countries in the future. Rail Baltica line will connect the Baltic states with Europe's railway infrastructure and diversify transportation options through Poland and the Baltics to Northern Europe. "I hope very much that Poland will take an active part in the project's implementation, to use the advantages it will provide," Kucinskis said.

Poland is Latvia's fourth largest trade partner. There are more than 300 Latvian-Polish joint ventures operating in Latvia. Their number has doubled from 2011, which is an indication of the two countries' ability to cooperate effectively.

Prime Minister Kucinskis is in the Polish capital Warsaw on a working visit to meet with Polish Prime Minister Beata Szydlo and attend the Latvian-Polish business forum.