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I can say about Baltic states, region does not really have any great natural resources like oil, gas, rare materials except resources for construction and wood industry. So most of the economy is service industry with high emphasis on knowledge jobs. Start-ups and software and whatever stuff what will work in the internet. Industry is around 20%, any big investment into heavy industry is not that wise anyway (lack of required resources which need to be imported in) if you are not into wood or oil shale stuff. Agriculture is just a few percent, but the region can feed itself. Exports with Russia between different Baltic countries were between 2% - 8%. Negative trends for the region are price increases, mostly fuel and electricity. Obviously bigger investments into military's spending go in too which means less money to the other areas.Since October, my business partners and I have been going through the process of expanding our US company into the EU market in 2023 via Romania and establishing a fulfillment warehouse in Cluj-Napoca.
We are currently in a holding pattern to wait and see what happens. Both of my partners (one of whom is Romanian-American) will visit Romania for 8 weeks in June/July but for right now, everyone is a bit apprehensive to make any major investments without knowing how this war is going to play out. I often wonder how much foreign investment in Poland, Romania, and the Baltic states is currently delayed or not going to happen anymore because of this shit war.
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