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.

 
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 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 2022)

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Developed infrastructure

Top-level infrastructure from well-developed transport and logistics to IT and communications. Latvia is 17th in the world on Economic Freedom Index (2023)

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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 2023)

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Latvia in facts

Despite the Covid-19 crisis and geopolitical situation, net flows of FDI attracted to Latvia continue to increase.

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Foreign direct investment

The Baltic states, including Latvia, have shown good growth in attracting investment in recent years.

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Accessibility 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, Russia and the CIS countries.

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Business friendliness

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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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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Mission Sea 2030

Latvia is on the road to address the issues of climate change and pollution by facilitating the creation of innovative projects and ensuring sustainability.

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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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Key sectors

Care of Sweden

"The decision of the Swedish company Care of Sweden to build a production plant in Liepāja confirms that Latvia is attractive for investments."

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Kaspars RožkalnsDirector of Investment and Development Agency

Marcegaglia

"We are delighted to have invested in Latvia and we are confident that our cooperation will continue to deliver great results in the future. We plan to resume operations very soon."

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Antonio Marcegagliapresident and CEO of the company Marcegaglia

Other video stories:

Care of Sweden
Marcegaglia

Read why they have chosen Latvia

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