OREANDA-NEWS. October 29, 2009. President Valdis Zatlers met with management representatives from Latvia’s 10 largest commercial banks – the Aizkraukle Bank, the DnB Nord Bank, the Latvian Mortgage and Land Bank, Latvijas Krajbanka, the Nordea Bank, the Norvik Bank, the Rietumu Bank, the SEB Bank, Swedbank and the UniCredit Bank, reported the Official website president.lv.

Also taking part in the discussion was the president of the Latvian Association of Commercial Banks, Teodors Tverijons. The focus was on what the banking sector thinks about opportunities for economic regeneration in Latvia, as well as the steps that must be taken to find solutions related to issues such as employment and encouragement of further economic activity.
 
On September 15, at a special meeting of the Cabinet of Ministers which was convened by President Zatlers, employment was declared to be a priority for the government. The aim in today’s meeting was to talk to representatives of the financial sector to see what can be done to create new jobs and promote higher employment. Participants in the discussion talked about initiatives n this regard which could be proposed and supported by the banking sector.

After hearing what the bankers had to say about economic development and relevant activities, the President asked them to help in finding solutions to employment-related problems and to ensure corporate social responsibility in terms of the public interest. Participants in the discussion talked about how to help unemployed people, how to assist people who are establishing new micro enterprises, and what to do with people who have already begun business operations, but still require advice and assistance.

People from several banks said that they have already implemented projects aimed at training unemployed people and at offering professional knowledge as to how a business proposal is prepared. An emphasis in the discussion was placed on the idea that banks have not seen small clients as very interesting in the past, but this must change. In discussing ways in which a healthy business environment can be restored in Latvia, participants called for higher moral responsibility toward the state in terms of paying taxes, but also in terms of ensuring that the country’s tax policies are stable so that potential domestic and foreign investments can be preserved in the Latvian market. The bankers said that they’re interested in supporting micro businesses, as well as in initiatives aimed at improving the level of economic education among the people of Latvia.