Hamburg businessmen are very interested in Latvia

Hamburg businessmen are very interested in Latvia
Hamburg businessmen are very interested in Latvia

Today, April 3, the Minister of Economy Viktors Valainis met with the Minister of Economy and Innovation of the City of Hamburg, Melanija Leonhardi, who is visiting Riga with a delegation of more than 50 businessmen. Opportunities for economic cooperation between Latvia and Hamburg in several areas were discussed, especially in issues of port development, transport, energy and modern technologies.

“I had a series of constructive talks with the German delegation, during which I presented the investment opportunities provided by Latvia. We have invested a lot of work in order for German businessmen to get to know Latvia better and better, and the discussion topics raised by the Hamburg delegation clearly confirmed this. In addition to traditional cooperation in industry, Latvia and Germany have a very high potential for cooperation in port logistics, energy, and ICT technology projects. I emphasized to the potential German investors that we are working hard so that Latvia’s economy will be in the fastest growing and most competitive region in the coming years. German representatives seemed really interested in what is happening in Latvia, and I think there is reason to expect specific investment projects in the near future,” V. Valainis emphasized after the meeting.

The Minister of Economy also emphasized Latvia’s “green” electricity balance – 70-80% of the electricity produced in our country comes from the Daugava HPP cascade. With this, Latvia could be attractive to German investors who are looking for opportunities to develop “green” production facilities. Latvia also has many potentially profitable areas to offer for the construction of new factories, including ports, as well as opportunities to provide special support at the government level and easing of bureaucratic obstacles for large investment projects.

During the negotiations, both parties concluded that Latvia can learn a lot from the experience of the port of Hamburg, which is the largest port in Germany, in the reorientation of its ports from transit to logistics, innovation and industry, as well as domestic rail cargo, and vice versa. The basic idea is that a modern port is no longer just a cargo transshipment point, but a whole business ecosystem that includes logistics, manufacturing and innovation.

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The article is in Latvian


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