On Wednesday, March 2, within the framework of his first foreign visit to Estonia, Prime Minister Māris Kučinskis visited the company Kohila Vineer - a subsidiary of Latvijas Finieris, which is a major investment of Latvian entrepreneurs in Estonia. After expansion, in 2016 the total investment will amount to 80 million euros.
“The Latvijas Finieris group is an example of a favourable investment environment - the company is successfully expanding its activities in Estonia,” acknowledged the Prime Minister. During a meeting with Chairman of the Board of JSC Latvijas Finieris Uldis Biķis, the Prime Minister stressed that membership of the Baltic States in the single currency area makes the region more attractive for investment from both local and foreign investors and that the regional development of Latvijas Finieris is very positive. "We are proud of the scope, quality of work and competitiveness of Latvian entrepreneurs both in Estonia and in the international arena," said the Prime Minister during his visit to the company.
Also in discussion with Prime Minister of Estonia Taavi Rõivas, Māris Kučinskis welcomed the flourishing business environment between the two countries and expressed the hope that the achievements of Latvian entrepreneurs in Estonia would open up new opportunities for other entrepreneurs in this market. “By locating their production facilities in neighbouring countries, the entrepreneurs are able to respond promptly to customer orders and market trends,” said the Latvian Prime Minister.
Kohila Vineer was founded in 2011 with the goal of restoring the birch refinery in Kohila, Estonia. In 2012, the first stage of reconstruction of the plant was completed with an investment of 20 million euros, while in August of last year the foundation stone for the second stage of development was laid with the aim of creating a full-cycle production of plywood and its products.
It is planned to implement the refinery’s enlargement by the end of 2016 – at that time the total investment of the Latvijas Finieris group in Estonia will amount to 80 million euros, and the company will employ 230 employees.
From 2-3 March, Prime Minister Māris Kučinskis is paying introductory visits to Estonia and Lithuania. In Estonia, the Prime Minister meets with Prime Minister Taavi Rõivas and President Toomas Hendrik Ilves, while in Lithuania - Prime Minister Algirdas Butkevičius and President Dalia Grybauskaitė. The Prime Minister will also visit the Kohila Vineer company in Estonia and factory Sakret in Lithuania.
Information prepared by:Lita Juberte
Press Secretary to the Cabinet of Ministers
Phone: 67082919; 28803639
E-mail: lita.juberte@mk.gov.lv Andrejs Vaivars
Press Secretary to the Prime Minister
Phone: +371 29228678
E-mail: Andrejs.Vaivars@mk.gov.lv