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 and talent pool

Latvia is 4th in the world according to the share of female tertiary graduates (Education at a Glance, 2023)

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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

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

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

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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, Russia 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
Resources
News
Contacts

  • Investment and Development Agency of Latvia (LIAA)

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

Phone: +371 25710113

invest@liaa.gov.lv
www.liaa.gov.lv
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Copyright, LIAA 2023

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