Today, on June 27, during the meeting with Prime Minister Valdis Dombrovskis, Robert Greifeld, the head of the NASDAQ OMX Stock Market Group emphasized that the Baltic capital market has significant potential for development and its realization will contribute to economic growth of the region.
V.Dombrovskis, on his turn, emphasized that under current circumstances when crediting of the banking sector is still limited, there is a need to seek alternative funding resources to ensure development of the existing companies and implementation of new business ideas. In this area the stock exchange can make a significant contribution and, therefore the Prime Minister called on the NASDAQ OMX to focus on those opportunities.
Discussing the opportunities to quote fully or partially state-owned companies on the stock exchange, the Prime Minister informed that the government is currently working on the reform for governance of state-owned capital companies, during which the assessment will be made regarding the companies which should be maintained as state-owned and which can undergo privatisation, incl., by quoting on the stock exchange.
V.Dombrovskis emphasized that those companies, which are included in the list of companies which shall not undergo privatization, shall not be transferred for quotation on the stock exchange. In other cases, this option should be considered, in view of the significant benefits provided by this process, e.g., improvements in the business culture and corporate governance transparency, as well as opportunity to attract foreign investment for development.
The head of the NASDAQ OMX informed the Prime Minister about the company's objective to develop a common capital market of the Baltic countries with a view to attract new regional-level partners as well as to promote the investors' interest in the opportunities to invest in the Baltic region.
This is the first visit of the head of the NASDAQ OMX to the Baltic States. Within the framework of the visit, the meeting with the Heads of Government, officials, ambassadors and company managers are planned.
NASDAQ OMX is the world's largest Stock Exchange group, which has been represented also in Latvia since 2008 with the Stock NASDAQ OMX Riga. Approximately 3400 global companies are listed in NASDAQ OMX Stock Exchanges, incl., such leaders of the sector as Apple, Google, Microsoft, Facebook, Starbucks, and Carlsberg etc.
Last year Valdis Dombrovskis and the Latvian entrepreneurs' delegation paid a visit to the USA and on June 21 visited the central office of the NASDAQ OMX in New York where they participated in ceremonial opening of the closing session trading. In the meantime, a video clip about Latvia made by the Latvian Institute was shown on the facade of the NASDAQ Market Site in Times Square.
For the photo of the meeting of V.Dombrovskis and R.Greifeld please visit: http://www.flickr.com/photos/valstskanceleja/sets/72157630312362564/.
Supplementary information:
Mārtiņš Panke
Press Secretary to the Prime Minister
Phone: +371 67082865, +371 26556965
E-mail: Martins.Panke@mk.gov.lv
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