2020

LVM Supervisory Board Supports the Purchase of Six Real Estate Properties

In order to increase the territory of sustainably managed state forests, this July the Supervisory Board of JSC “Latvia's State Forests” (LVM) supported the purchase of six real estate properties with an area of 31.7 ha. The total amount of the property purchase is 61.1 thousand euros. This year, the company's Supervisory Board has considered and supported the purchase of 38 land units with an area of 340 ha.

“Forest land is a limited resource, and there is fierce competition in the market for the acquisition of valuable forest areas – LVM encounters the interest of foreign entrepreneurs in Latvian forest lands on a daily basis. It is a pleasure that once the decision is approved by the Ministry of Agriculture, these forest lands will become the property of a Latvian state-owned company, not a foreign natural or legal person. 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. Acquisition of new forest lands is today's investment in the future of our children,” points out Elmārs Švēde, a Member of LVM Supervisory Board.

In the acquired land properties, LVM implements sustainable forest land management by restoring forest stands with high-quality, selected forest seedlings and ensuring optimal growth conditions for young trees throughout the forest management cycle. The high-quality forest stands will not only promote economic development in the regions of Latvia, but will also create free places for recreation and picking forest bounties.

Since 2008, within the forest land acquisition programme implemented by LVM, the area of ​​state forests has been increased by more than 13 thousand ha. At the same time, there is a constant growth of such areas of state forests, where due to various environmental protection reasons no economic activity takes place, therefore the forest lands acquired by LVM at least partially compensate for the decrease of managed forest territories.

Latvia is among the greenest countries in the world, thanks to forests that cover more than half of the country's territory.

For more information:

Head of LVM Communication Unit

Tomass Kotovičs

tel.: 29408866

E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.