2020

JSC "Latvia's State Forests" has been Taking Care of State Forests Already for 21 Years

JSC “Latvia's State Forests” (LVM) was established 21 years ago with Cabinet order. The company was entrusted with the task of managing the territory of state forests. Since 28 October 1999, the company has been growing and developing, becoming an innovative, reliable and sustainable forest owner, balancing economic, social and environmental interests.

“The forest area in Latvia has reached its largest size in the last 250 years, and it is only self-evident that the importance of forestry in the development of the Latvian economy is also growing. This year has been a time of challenges for both entrepreneurs and the society. The forest unites people in Latvia not only in folklore, but also in today's changing daily life – it is the safest place to strengthen one’s immunity and draw inspiration by taking a walk along trails covering an area of 1.6 million hectares of state forest land. I am satisfied with LVM's achievements and I am convinced that the following years will be no less productive for the company, and future generations will receive even more beautiful and productive state forests, which will be appreciated by our children and grandchildren. As an old-fashioned person, I definitely rely on “blackjack” in terms of both faith and success – both with regard to LVM's years of work and to the next year that are ahead of us,” says Jurģis Jansons, Chairman of LVM Supervisory Board.

As compared to its beginning, LVM turnover has increased from 24 million euros almost 16 times, reaching the highest level of revenue or 379 million euros in the company's history last year. At the same time, LVM has contributed 1.15 billion euros to state and local government budgets since its establishment.

In addition to successful financial indicators, the company also gives a significant social contribution, providing more than 7 000 jobs in industry-related companies throughout Latvia. This year, the company has planted more than 28 million young trees to grow the forest of the future.

Forestry is the main area of LVM activity; however, the company also develops other areas of activity such as forest infrastructure, extraction of underground resources and production of materials, LVM GEO, hunting and recreation services, cultivation of selected seeds and seedlings for high-quality reforestation. Investments have been made to increase the production capacity of genetically valuable plants and to implement scientific recommendations.