Rīga mayor predicts breakthrough year of business investments

2023 will be a breakthrough year for business investment in the Latvian capital, Rīga mayor Mārtiņš Staķis predicted April 19 on Latvian Television's 'Morning Panorama' news show.

Stakis said that the work that the Rīga Investment and Tourism Agency (LIVE RIGA) has been doing for two years is starting to yield results after sometimes lengthy negotiations.

"We [Rīga] have negotiations with 15 investors, where we are in the final round, which means that the choice is between Rīga and another city," said Staķis, noting that the biggest competition is with cities in Central Europe and Poland.

The mayor cited that the number of educated employees and the large number of foreign students in the Baltic states help attract foreign investors to Rīga.

He also flagged up this year's first success in the form of a decision by Roche Services & Solutions to significantly expand its operations in the region, as previously reported by LSM. The company is currently looking for office space and is already hiring employees, said Staķis. 

"This is very important, because it is also a sign for other investors that big companies are starting to choose Rīga again," added Staķis. 

Source: Eng.LSM.lv (Latvian Public Broadcasting). Photo: Shutterstock.