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FICIL Affirms the Need for State Aid to Companies Affected by Covid-19

20 March 2020

The Foreign Investors' Council in Latvia Latvia's Government's efforts to limit the spread of Covid-19 has issued a statement expressing gratitute for the governments efforts to mitigate the spread of the virus, while affirming the need for state aid to companies that have been affected by the crisis.


"FICIL highly appreciates the Government's actions in seeking solutions and implementing measures of support for businesses, as well as appreciates the socially responsible behaviour of entrepreneurs trying to mitigate the potential negative impacts," says the statement.

(..) 

"In these challenging circumstances, FICIL encourages the Government to find reasonable and fair solutions to help the companies directly affected by this situation. There is a need for a balanced approach to developing solutions, potentially evaluating previous tax payments as well as the decline in overall turnover for companies due to the implementation of Covid-19 containment measures. In times of economic downturn, it is important to provide support to those in need, while avoiding misuse of the business support system. In a letter to the Ministry of Finance, FICIL expressed readiness to continue its cooperation with the public sector in order to share the experience of foreign companies both in Latvia and internationally, as well engage in shaping appropriate solutions," says the statement.

For the full statement, visit: https://www.ficil.lv/2020/03/20/ficil-emphasises-the-need-for-state-aid-to-companies-directly-affected-by-covid-19/ 

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