The Prime Minister of Latvia has lately been emphasizing the importance of international alliances to his country’s economic development. During a visit to the US in July to emphasize global economic partnerships, Prime Minister Valdis Dombrovskis spoke at the EU Mission to the UN and met with the President and Co-Founder of NCH Capital, George Rohr.
On September 2nd, back in Latvia, the Prime Minister visited two American-owned high technology companies. He toured GroGlass and Sidrabe, both owned by funds managed by NCH Capital . While visiting these operations, Prime Minister Dombrovkis emphasized the important relationship between Latvia and its foreign investors and encouraged other Western investors to actively pursue investment opportunities in Latvia, and stressed that Latvia’s highly educated workforce, its geographic location, and its business-friendly climate make for a very attractive destination for growth capital.
According to estimates by the Centre for Economic Development (CED), Bulgaria’s Gross Domestic Product (GDP) has witnessed an annual increase of approximately 2 percent in this year’s second quarter — far better than that seen by many if its western European peers. As a recent report in The Sophia Echo noted, however, while the country’s economy has indeed been seen an encouraging, if modest, growth spurt, it remains “weak and unstable.” The increase in the GDP figure was mainly “fuelled by the manufacturing and services sectors,” the report continued. Still, even this minor economic increase shows positive growth, watched closely by opportunistic foreign institutional investors like NCH Capital, co-founded by George Rohr and Moris Tabacinic to manage dedicated capital for US institutions.
There appears to be further positive news for Bulgarian economic growth. As the CED noted, there will be acceleration of the country’s overall growth rate in the third quarter of this year, a trend which is expected to continue into next year. The projected growth rate currently sits between 2.5 and 3 percent for this year.
