Latvia defines several priority sectors of Georgia for FDI attracting

By Trend

Latvia has defined several priority sectors of Georgia for attracting foreign investment, the Ministry of Foreign Affairs of the Republic of Latvia told Trend.

According to the ministry, these areas include smart specialization sectors – ICT, bioeconomy, smart materials, and photonics; international business service centers; including construction, transport and logistics related to the above mentioned sectors.

"We shall of course welcome any interest of Georgian businesses to invest in other sectors of the Latvian economy where they see potential as well those already named," added the ministry.

Cooperation in transport and tourism has been a matter of Georgian-Latvian mutual interest and benefit till now, said the ministry.

According to the ministry, in 2020 there were 80 companies in Latvia with Georgian investments with a total amount of 4.1 million euros.

"As soon as travel restrictions imposed due to the COVID-19 pandemic are lifted, we shall work together on organizing seminars for experts and media working in Georgia’s tourism industry that focus on promotion and development of Latvia’s medical tourism," the ministry said.