The Three Seas Investment Initiative: Building the Economy of Tomorrow

On April 14^th, a virtual discussion was held regarding “Financing Regional Security: An Update on the Three Seas Initiative (3SI) Investment Fund”. The panel of experts addressed the economic potential of the region, the importance of smart investments, as well as the public and private partnerships involved in the process. A significant requirement for energy, transport, and digital infrastructure in the 3SI region was underscored as the main area for future development.

Andris Teikmanis, the Head of the Chancery of the President of the Republic of Latvia, was among the meeting’s participants: “The 3SI is not just about boosting the economy of today but building an economy for tomorrow. This year’s 3SI Summit and Business Forum in Riga will focus on this, and on how we can achieve better resilience and connectivity throughout the region in a sustainable manner, especially in the light of the current volatile geopolitical and economic situation.”

The Head of the Chancery emphasised the importance of the close and active involvement of the United States in the 3SI. The 3SI Investment Fund, while adding significant value to the Initiative, complements the EU’s investment and cohesion strategies. During the discussion, experts highlighted that the 3SI Investment Fund works on commercial principles but sometimes inspiration from governments is also needed to help businesses develop.  

The discussion also touched the topic of the ongoing Russian invasion in Ukraine and its possible impact on investment prospects in the 3SI region. It is crucial to look at the 3SI as a dynamically developing project that complements EU strategies as well as strengthening transatlantic links. Moreover, the 3SI region is the fastest growing region in Europe with an attractive return on investment of approximately 6% on average over the last 10 years—which is approximately 1.5 times higher than in Western Europe. However, the potential for growth in the region has not been exhausted. Latvia has invited President Volodymyr Zelensky to the 3SI Summit and emphasises the importance of developing practical cooperation with other like-minded partners.

The 3SI Summit and Business Forum, on June 20^th and 21^st in Riga, will aim to foster tangible results, focusing on a number of ambitious but achievable deliverables, in order to transform vision into action that will provide long-lasting benefits and bring the Three Seas idea closer to the hearts and minds of the people.