Funding for the cinema industry and organizing great events will increase / day
The Ministry of Economics (MoE) informed LETA that during a meeting with producer and director Andrejs Eke, the prospects of the Latvian cinema industry and the expected state support were discussed.
On February 11 this year, the Cabinet of Ministers supported the Program led by the MoE to provide state aid for foreign films and organization of great events in Latvia. The program is designed as a constant regulation of support in this area and will provide opportunities for representatives of various industries to implement large international events in Latvia, as well as to attract powerful foreign film producers to the Latvian cinema industry, thus promoting business, including export revenue and strengthening the country’s international recognition.
Valainis emphasized that support for making foreign films in Latvia is very important. The services provided by the cinema industry significantly stimulate the development of the country’s economy and the development of the country’s image abroad, ensures the growth of exports, productivity, as well as the global competence of the Latvian film industry.
Valainis has also pointed out that public co -financing promotes employment in various sectors in the film industry. Similarly, after the success of watching films made in Latvia, the influx of tourists and interest in Latvia are expected.
Echi also emphasized that this is the right moment to strategically develop the film industry as an export -capable and economically important industry, as the development of the cinema directly affects the state budget revenue, creates jobs and strengthens Latvia’s international recognition.
At the same time, Valainis and Ēķis admitted that the success of the film « Stream » has been repeated to the repetition of a careful work in cooperation with the industry. It is important to continue the course to attract international attention, so along with the Ministry of Culture and the industry, you need to look for additional opportunities for more and more to position Latvia as a professional player as a result of various activities, making it attractive to foreign investment.
The Latvian Investment and Development Agency of the Latvian Investment and Development Agency, from March 3 to April 3, organized an open first selection round. In total, 14 project applications were received for foreign films in Latvia for a total amount of EUR 10.5 million, as well as three project applications for the organization of great measures in Latvia for a total of EUR 0.7 million.
The support program determines the activities to be supported, the costs, the intensity of the co -financing, the evaluation criteria and the conditions for receiving the co -financing. The amount of co -financing per project is 30% of the total eligible costs of the project implementation. The budget provided for in Latvia is set out in accordance with the Law « On the State Budget for 2025 and the Budget Framework for 2025, 2026 and 2027 » – EUR 7.5 million for 2025, EUR 7.9 million for 2025, EUR 7.9 million for 2026 and EUR 8.3 million for 2027.
