On 17 May 2023 in Dublin experts and representatives from USA, Czechia, Latvia, Lithuania, Poland, Romania and Hungary participated in discussion “Three Seas Initiative Investment Fund – Sustainable Financing”. The event was organized in cooperation with IBEC, which is Ireland’s largest business representative group, to attract the attention of Irish policymakers and investors to the projects of the Three Seas Initiative.
Discussion was organised in two panels: 1) What is the Three Seas Indicative and why? Strategic prospects for the Region in the Face of Russian war in Ukraine; 2) Invest in the Three Seas Initiative Investment Fund – the land of opportunities. Latvia in discussion was represented by Member of the Management Board at the JSC Development Finance Institution ALTUM Mr Jēkabs Krieviņš.
The region currently has an extremely attractive environment for potential investment. In response to the increase in energy prices, there has been a higher demand for innovative and green solutions. The business, energy and digital sectors have quickly refocused and readjusted on finding new solutions. While the government, following the changes, created competitive advantages, for example, the “Green Channels” or accelerated public administration services for companies that are registered in Latvia and plan to implement investment projects. As a result, Latvia currently has all the necessary elements for investment growth noted Member of the Management Board at the JSC Development Finance Institution ALTUM Mr Jēkabs Krieviņš.
Ambassador of Latvia, H.E. Mr Juris Štālmeistars: “Latvia used this event to attract the attention of Irish partners to sustainable investment opportunities in Latvia and the region on such important areas as transport, energy and digital infrastructure. It is important for Latvia to participate in this platform and make the most of it.”
The Three Seas Initiative Investment Fund is an economic dimension of the Three Seas Initiative between twelve EU Member States allocated between Baltic, Adriatic and Black seas - Estonia, Latvia, Lithuania, Poland, the Czech Republic, Slovakia, Hungary, Slovenia, Austria, Croatia, Romania and Bulgaria. The Fund invests in infrastructure projects in the Three Seas region in three areas: transport, energy and digital technologies. Apart from strengthening cooperation and improving infrastructure within the region, the Fund’s goal is to provide profit to its investors. Professional and independent entities are responsible for the Fund’s investment process. Institutions representing the Three Seas countries, international financial institutions and private investors from all over the world may be the investors in the Fund.
More information on Three Seas Initiative Investment Fund available here.