The “Growth of the Year in Fisheries” Award at the “Lielais loms 2026” Fisheries Awards Recognises 33 Years of Purposeful Work by SIA “VERĢI”
Winning the “Growth of the Year in Fisheries” category at the “Lielais loms 2026” Fisheries Awards is recognition of 33 years of dedicated work by Ivars Janeks, Member of the Board of SIA “VERĢI”, and the company as a whole.
“Nothing has happened suddenly or unexpectedly – it is the result of many years of work,” the company’s board member emphasises. This long-term approach has enabled SIA “VERĢI” to become one of Latvia’s leading fishing and fish-processing companies, exporting its products to more than 30 countries.
In recent years, Latvia’s fisheries sector has faced a number of challenges, including reduced fishing quotas, rising logistics costs, the search for new markets and a complex geopolitical environment. Yet it is precisely in such circumstances that companies capable of not only maintaining stability but also developing further stand out. SIA “VERĢI” operates in fishing and fish processing, meaning that its development is largely determined by fish resources in the Baltic Sea and the fishing quotas allocated. Although quotas for some fish species have increased slightly this year, the sector has experienced a significant decline over the longer term. This means that companies must work more efficiently and create greater added value from every tonne of fish landed.
Diversifying Export Markets Is a Key Priority
The company’s priority is to make full use of the available resources at its processing facilities in Ventspils and Liepāja, developing a wide range of products and seeking new export markets.
“It is important for us to secure raw materials for our processing facilities, then process the fish into a variety of products and export them around the world,” the company’s manager explains.
Diversifying export markets has become particularly important in recent years. Following geopolitical changes, the company had to redirect part of its exports and look for new business partners. This process has taken years, involving regular participation in international trade fairs and building contacts abroad. Japan is currently one of the company’s most stable export markets, while its products also reach the Balkan countries, Ukraine, the United States and many parts of Europe.
“We are not dependent on one large market – stable, long-term partners are more important to us,” Janeks emphasises.
Actively Using Support Programmes
To maintain its competitiveness, the company regularly invests in modernising its production facilities. European Union (EU) funding also helps make these investments possible. SIA “VERĢI” uses both individual and collective projects, cooperating with the Rural Support Service (RSS) and sectoral organisations.
“There are a great many needs, and they never end. You finish one project and the next one is already waiting. Step by step, every year we implement new projects whenever the opportunities arise,” the company’s manager says.
EU support plays an important role in strengthening the competitiveness of the sector. Since 2022, the Programme for the Development of Fisheries 2021–2027 (PZA) has provided new forms of support and priorities for the development of the sector, helping businesses invest in modernisation, improve efficiency and strengthen competitiveness.
Janeks acknowledges that the support is very important, but implementing projects also requires substantial investment from the company itself. “Projects are not only capital-intensive, but also very time-consuming – a long time passes from submitting an application to completing the project,” he says, adding that reducing bureaucratic procedures would be one of the most important improvements.
The Biggest Challenge – People
Alongside investment, people represent the company’s biggest challenge for the future. There is a shortage of young fishers in the sector, and the company itself is involved in their training.
“Generational renewal is one of the toughest issues. We need to promote the sector itself so that young people want to work in it,” Janeks believes.
For him, receiving the “Growth of the Year in Fisheries” award is recognition of many years of work. “It is recognition of our work. It is gratifying to see that what we have achieved is being noticed, but the most important thing is to keep working and overcome the challenges that lie ahead.”
The experience of SIA “VERĢI” demonstrates that growth in fisheries does not happen in a single season. It is built on long-term investment, the ability to adapt to changing markets and the capacity to make use of the support opportunities provided by the EU, ensuring that Latvian fish products maintain their place on global markets.
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