LIAA director: €1.9 billion potential future investments in Latvia

Investors with total potential investments of €1.9 billion are currently interested in Latvia, said Kaspars Rožkalns, Director-General of the Latvian Investment and Development Agency (LIAA), in an interview with Latvian Television on April 25 morning.

“At the moment, overall, investor interest is pretty high. We have a total investment volume of over 40 projects of about €1.9 billion,” Rožkalns said.

According to him, one of the largest investors entering Latvia is the Italian company Marcegaglia, which has bought a controlling interest in the sanctioned Severstal Distribution. The Ministry of Economics of Latvia, the Ministry of Foreign Affairs, as well as the representation of Latvia in Italy, were involved in the organization of this transaction.

“The total amount of the transaction is not disclosed, but it is known that it is planned to create 300 new jobs in 2025 and the turnover will reach €300 million,” said the head of the LIAA. 

The second well-known new investor in Latvia this year is the international pharmaceutical and biotech company Roche, which plans to open its business center in Latvia, with about 200 new jobs planned in the next 4-5 years, said Rožkalns.

Source: Eng.LSM.lv (Latvian Public Broadcasting), "Rīta Panorāma" (Latvian Television). Photo: LETA, Zane Bitere