Attracting investment and supporting businesses, including reducing the administrative burden, rank at the top of the Ministry of Economics' priorities for 2025. Particular attention is to be given to reviewing the rules governing the “green corridor”. In the past this support mechanism has favoured foreign investors, but it would be very important to ensure equal opportunities for all investors who add value to the Latvian economy, including domestic companies.

To draw wider attention to this issue, and to signal a willingness to build a closer dialogue between local investors and the public administration, to reduce the burden of bureaucracy and to encourage investment, one of Latvia's leading wood-processing companies, “Stiga RM”, together with the Employers' Confederation of Latvia (LDDK), is holding a forum on the future of the timber industry, “From the forest to the world market: how do we give Latvia's economic engine extra power?”.

The so-called “green corridor” has been operating in Latvia for several years – an initiative to support large investors, aimed at cutting bureaucracy and giving priority access to public administration services, thereby speeding up administrative procedures for high value-added investment projects. Unfortunately, until now it has been almost impossible for domestic investors to find out how well this support mechanism actually works.

LDDK Director General Kaspars Gorkšs: “Attracting investment is one of the priorities for Latvia's economic growth, and the government's efforts to create a more favourable investment environment deserve support. It is important, however, that this support be equal for all investors, regardless of their origin. Only by ensuring favourable conditions for attracting both Latvian and foreign investment will we be able to achieve faster delivery of projects, more jobs and growth in the Latvian economy. Why does it seem that foreign investors have more opportunities than local businesses? The question arises when you look at how the “green corridor” works in practice. The LDDK calls on the government to review and improve the way this mechanism operates, so as to ensure that it fosters the growth of Latvian companies and increases the country's economic prosperity.”

The LDDK's position is shared by “Stiga RM”, which over the past five years has invested around 100 million euros in modernising wood processing and in projects to manufacture high-quality timber products. Over the next five years the company plans to increase that level of investment, focusing on building new, technologically advanced plants and on manufacturing export-capable, high value-added products.

The owner and chairman of the board of “Stiga RM”, Andris Ramoliņš: “Latvia's drive to foster an attractive investment environment and national competitiveness genuinely deserves support – it is a great pleasure to see the political will and capacity behind it. But we would not want to see projects that matter for the growth of the national economy left by the wayside, when a lighter bureaucratic burden and institutional co-operation would allow them to be delivered far sooner. Every week saved – let alone a month or even a year – means faster delivery of projects and, accordingly, faster returns in taxes, new jobs, export volumes and improved economic indicators. That is in all our interests!”