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Heart of the New Nordics

We are becoming the HQ of sustainable innovations by addressing the circular economy and climate challenges. Latvia creates an environment for global scale rapid innovations and long-term investments.

#2

Latvia is 2nd greenest country in the EU

(Source: Eurostat, the WHO and the European Environmental Agency)

Skilled and motivated talent pool

Latvia is 2nd in the world according to the number of females obtaining master's degrees (Source: Education at a Glance 2021)

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Developed infrastructure

Top-level infrastructure from well-developed transport and logistics to IT and communications. Latvia is 18th in the world on Economic Freedom Index (2022)

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Cost effective environment

Latvia`s tax system has been recognised as 2nd most competitive in the world (Source: International Tax Competitiveness Index 2022)

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Strong startup ecosystem

Tech-savvy founders are attracted by Latvia's favorable startup policies and vast funding opportunities. Latvia is the #1 startup-friendly country in the world (SIfted, 2021)

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5

Latvia has five Special Economic Zones (SEZ), which can offer appealing tax rebates for your business

Visma Labs

“Visma is very satisfied doing business in Latvia. Visma entered the market in 2014 and has since then grown the business in the country. Latvians are hard working, reliable, they adapt easily to different cultures and deliver all tasks in high quality.”

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Therese SlettenDirector Strategic initiatives, Visma group

TietoEVRY

“At TietoEVRY in Latvia we are setting new standards as we focus on attractive work environment. More than 750 of our employees have a modern work model – open-plan office, flexible working hour concept, fruits in the office, and psychologist counseling included in the insurance policy. We, Tieto Latvia, are an employer with a balance between work and leisure.”

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Valērija VārnaCountry manager, Chairman of the board Tieto Latvia

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#3

Latvia is 3rd in EU for renewable energy use

(Source: Eurostat)

Key sectors

Bioeconomy

5th most forested country in Europe

Biomedicine

3rd by turnover amongst manufacturing industries in Latvia

Global business services

Riga is "The Most Dynamically Developing City in the CEE region"

Green technology

3rd in the EU in renewable energy consumption

Information and communications technology

Leaders in exporting telecommunications services in the Baltic States

Smart city

Riga - #1 drone-friendly city in the world

Smart materials and photonics

World’s leading provider of fiber optic products

Engineering and metalworking

70% exports of the total output

Food processing

2nd in the EU in wheat production per capita

Healthcare

6h in the world in phlebology

Life science

Highest value-added in the Baltics

Transport and storage

Lowest port fees in the Baltic Sea region

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Recent news

24.03.2023 - Biotechnology

Roche to expand business presence in Riga

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23.03.2023 - Technology

Insight into Baltic cleantech sector

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21.03.2023 - Companies, ICT

Bite invests in further developing 5G network

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21.03.2023 - Biomedicine, Healthcare

Olainfarm plans to become one of the top 10 pharmaceutical companies in Europe

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Our advisors

LIAA team is supporting foreign investors worldwide. We have closed the Representation Offices in Russia and Belarus.

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Investment and Development Agency of Latvia (LIAA)
Address: 2 Perses Street, Riga, LV-1442, Latvia

Phone: +37167039400

pasts@liaa.gov.lv
www.liaa.gov.lv
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