Today, on December 4th, Māris Vainovskis, FICIL Board member and leader of the Investment Protection work group, joined the morning show “900 sekundes” on TV3 to discuss the potential acquisition of Tet and LMT shares from Telia by leveraging private investment rather relying on state budget resources.
During the discussion, Māris Vainovskis highlighted the importance of aligning such business transactions with Latvia’s strategic goals. He explained that although the state budget is under significant strain, alternative financing solutions could facilitate the transaction without direct state budget involvement. These include tapping into the accumulated financial resources of the companies themselves and exploring private investment opportunities through the capital markets. Such approach would be sustainable and foster local economic growth, while maintaining fiscal discipline.
Māris underlined the critical role private investors can play in strategic acquisitions, noting that many Latvian citizens are, in fact, indirect foreign investors, as their pension savings are invested in companies abroad. Harnessing these funds or attracting investments from local entrepreneurs would not only strengthen Latvia’s economy, but also enable meaningful contributions to its strategic enterprises. “The government’s task is to find a way to achieve this goal without burdening the state budget, while ensuring we partner with the most capable and reputable investors,” – Māris stated.
This discussion aligns closely with FICIL’s ongoing advocacy for fostering a more investment-friendly environment in Latvia. As emphasized in our position paper, private investments are essential for driving sustainable economic growth and innovation. Encouraging the use of local resources and expertise in significant transactions like this aligns with our mission to ensure a more robust and resilient Latvian economy.