Why Latvia?

Here you can discover the main competitive advantages of doing business in Latvia. Some of the main are cost-effectiveness, highly skilled workforce, well-developed infrastructure, macroeconomic stability. But there are many more. Find out below.

 

95%

of Latvians speak multiple languages, ranking 5th in Europe
27% above the European average
Latvian economy overview

Look closer at Latvia`s economy and you will see the next great investment destination for your business

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Skilled talent pool

Latvia offers a workforce with a strong connection between education and employment, combining above average employment of tertiary graduates with effective vocational education (OECD, Education at a Glance 2025).

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Developed infrastructure

Latvia pairs strong transport, logistics, ports, and digital infrastructure with deep integration into global value chains. OECD notes high FDI embeddedness and strong local sourcing by foreign investors, supporting efficient supply-chain connectivity (OECD, 2026).

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Cost effective environment

As of 2025, Latvia’s tax system ranks 2nd globally in competitiveness according to the Tax Foundation International Tax Competitiveness Index. (Source: International Tax Competitiveness Index 2025)

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#2

Latvia’s tax system is considered the second most competitive
among OECD countries in 2024

Latvia in facts

Latvia aims to be among the most attractive investment destinations in the region, and the results of the Investment and Development Agency of Latvia (LIAA) confirm this – 2025 has been a record year for Foreign Direct Investment (FDI), facilitating over €1 billion in new projects.

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Access to large markets

Relatively small population does not make Latvia a major market, but the country’s key advantage is its location, providing access to its immediate neighbours. On its doorstep are the Scandinavian countries, Europe and the CIS countries.

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Investor-friendly

As a member of the European Union, the Latvian government is channeling EU Structural Funds to implement a number of state-support programs to foster business development.

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Residence Permit in Latvia

Foreign nationals may apply for a residence permit under the Immigration Law of the Republic of Latvia based on specific legal grounds

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Business locations

Discover a wide range of location choices from greenfield to industrial and office projects what Latvia’s territories and cities have to offer.

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Technology transfer

As National Technology Transfer Centre LIAA provides various activities aiming to contribute to innovation growth by supporting technology transfer and by developing a platform for long-term cooperation between research and industry.

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Quality of life

Our country offers a wide range of leisure options, from a vibrant city to unspoiled nature areas, from excellent music and theatre to fine dining, from water sports to architecture, from shopping to golf!

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International security

Latvia has been a trusted NATO member for 18 years, which is the strongest military alliance globally.

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ELWIND

ELWIND is a joint Estonian-Latvian state-run cross-border offshore wind project in the Baltic Sea.

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Useful information

This section lays out the main competitive advantages of doing business in Latvia. These include cost effectiveness, a highly skilled workforce, well-developed infrastructure, macroeconomic stability and many more.

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Why Latvia?
Key sectors
Incentives for investors
Success stories
News
Contacts

  • Investment and Development Agency of Latvia (LIAA)

  • Address: 2 Perses Street, Riga, LV-1442, Latvia

invest@liaa.gov.lv
www.liaa.gov.lv
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Copyright, LIAA 2026

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