Spruds and European Commission for Internal Market discuss attracting investment for military industry development in Latvia

  • 2023-10-20
  • LETA/TBT Staff

RIGA - Defense Minister Andris Spruds (Progressives) and European Commissioner for Internal Market Thierry Breton discussed the potential attraction of investments for the development of the military industry in Latvia, the Defense Ministry's press department informed LETA.

Spruds pointed out that in geopolitically challenging times, the development of Latvia's critical defense capabilities is particularly important, which will be ensured by significantly strengthening the military industry.

The Defense Ministry plans to set up a capital company to develop local production capacity and promote security of supply in the Baltic region in the long term.

The European Union is working on a long-term mechanism and strategy to strengthen the European military industry through a common framework. This is an essential part of enhancing Europe's military readiness.