The Three Seas Initiative (3SI) has become one of the topics during the World Economic Forum in Davos, Switzerland, attracting speakers and audience on current matters of development of the Three Seas region. From 22 to 25 May 2022, in six noteworthy panels, discussions are focusing on the Three Seas region’s energy transformation, commercial potentials, international investments, new age infrastructure, financial potentials and possible digital revolution.
The 3SI event on Monday, May 22, was opened by a chat with H. E. Kristalina Georgieva, Managing Director of the International Monetary Fund, and focused on international development potential of the 3SI, and how the 3SI may work with international organizations to facilitate greater investments from both governments and the private sector.
During the three days of the Forum the panels debated on how to strengthen the energy security of the 3SI region by leveraging the potentials of clean and renewable energy, including nuclear power as a driver of growth in Europe. Important arguments were made defining the 3SI as an ideal venture for private sector investment leading to a debate on what the 3SI can do to attract further investment from Western investment organizations.
The highlight of the 3SI events was the Three Seas Presidential Panel: Developing 21st Century Infrastructure in Central and Eastern Europe, with an emphasis on leadership and its responsibility in shaping policies to attract investment into the region.
H. E. president Levits stressed the regional significance of 3SI. “The main pillars of the Three Seas Initiative are unique. It is politically inspired and commercially driven initiative. It aims to attract private investment to our region. We need to focus on both pillars. Politically, 3SI has become even more important because of war in Ukraine. 3SI countries work closely together on collective security and assistance to Ukraine. Our region is not defined by our geographic location. Our region is based on shared understanding of commonalities. The importance of cooperation in specific sectors has increased since Russian invasion of Ukraine. Most 3SI countries account for biggest share of support provided to Ukraine. Latvia’s support to Ukraine is at the same level as Germany’s, in total figures,” President Levits noted.
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