Today, President of Latvia Egils Levits met with Marcus Wallenberg, Chairman of the Board of Directors at SEB Group, Johan Torgeby, President and CEO of SEB Group, and Frederik Jejdling, Executive Vice President and Head of Business Area Networks at Ericsson.
Meeting focused on current post-pandemic situation in global and Baltic financial markets, with special focus on the recovery or the next economic cycle.
Representatives of the SEB Group underlined that Latvia and Baltics are a home market for SEB, with stable and sustainable growth opportunities. Management of SEB Group also stressed it is constantly looking to invest in new sustainable projects that contribute to green transformation.
President of Latvia mentioned that Latvian financial sector has gone through a major overhaul in recent years and de-risking has resulted in greater focus on risk management. Banks, including SEB, have stable credit portfolios.
Both sides agreed that future of our region depends on efficient support for research and innovation. On the European Union Green Deal, the role of public-private partnerships in putting the economy back on the growth path was emphasised. Universities, including Stockholm School of Economics in Riga, will also play an important role in training of future experts, entrepreneurs and researchers.
Kaspars Rožkalns, Director of the Latvian Investment and Development Agency, who took part in the meeting in scope of Latvian delegation, presented National Economic and Business Development Strategy for 2030, a long-term vision focused on protection of clean water and ecosystem development. Latvia plans to invest in research and technologies for accessibility of clean water. Baltic Sea still struggles with enormous pollution from the World War II and Soviet times, and global expertise and incentives for Latvian scientists interested in mitigating consequences and promoting sustainable use will be of crucial interest.
Meeting also focused on the significance of 5G in future development of Nordic and Baltic region and its economic and digital transformation. Participants discussed the largest 5G-related projects, including development of economic belt along the “Rail Baltica” route.
President of Latvia underlined the infrastructure financing opportunities available under the Three Seas Initiative.