Latvia is a great place for foreign investment says the former U.S. secretary of state

Latvia is a great place to invest in and has a great potential for attracting foreign investment, according to the former U.S. Secretary of State John Kerry, who visited Riga in March. Kerry, who is now in the private sector, said that he had come to Latvia because he thinks that this part of the world has enormous potential to grow more rapidly than the rest of Europe.

"People are looking at places like Latvia, where you have a government that wants to move forward, where you have good policies, where you have a ready workforce, you have the ability to trade within states of the EU and outside." Latvia's exports have increased, industrial production is up over last year, and net GDP has increased more than in the rest of Europe. "So this looks like a place where something is happening, and I think that the possibilities are real."

According to Kerry, "You have a strong education system, you have a ready and willing workforce, you have membership in the EU, which is critical to a set of rules and standards, accountability and transparency. And you have a desire, there is a demand. Those are the key ingredients of a viable market."

Kerry also reminded of the history of Latvia that was once part of the Hanseatic tradition. "Latvia has already given a great example to the world by making a choice in 1991 and by remaining so steadfastly committed to values that we share. People need to learn more about Latvia, Lithuania and Estonia. You have stood your ground under very real threats that lot of people in various parts of the world don't fully understand. You have a strength of character that is worth being proud of."

Commenting on investment opportunities, Kerry said there was a lot of money around the world just sitting there doing nothing. People are now rethinking their approach to investment. "Maybe hanging back is not as wise as trying to get a solid return on investment over a period of time, that may not be as exciting as Snapchat, but nevertheless it's real and it's productive," explained Kerry.

Source: Leta