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Kārlis Danēvičs, Board member, Head of Credits and Risk at SEB Banka
After years of pessimism about attracting the investment needed to drive European economies, many international investors are returning to the continent with a renewed enthusiasm. According to research by analysts EY, FDI soared to a record level during 2013, reflecting the renewed sense of optimism that investors have for a region that has struggled through one of the worst recessions in decades.
During the last year, Europe received as much as €223bn from investors in the likes of Brazil, Russia, India and China, which was an increase of 25 percent on the previous year’s figures. Europe saw 3,955 FDI projects during 2013, which represented a rise of four percent on 2012 and reportedly created around 166,000 jobs.
EY's ‘European attractiveness survey 2014' said that while investors were more optimistic, they were also well aware of the work that needed to be done to restore the continents' economies. "Investors are more optimistic than last year, but realistic at the same time. They emphasise that recovery is not an invitation to be complacent and that competitiveness remains the key to sustainable growth and a more attractive Europe. They stress the importance of an ecosystem-related approach to innovation and entrepreneurship as the first step. Investors want to see a more integrated, single' Europe."According to EY's research, investors see Latvia as a destination for the future investment opportunities. Click here to read more about the research on the Baltic region.
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Karlis Cerbulis, Senior Vice President of NCH Advisors, Inc.