Business friendliness

In the contemporary globalized landscape, despite its size, Latvia acknowledges the vital role of luring foreign investment to ensure ongoing economic progress. Functioning as a robust democracy, Latvia has steadfastly championed open economic approaches and actively invites investments that align with the values and advantages inherent in free markets.

Furthermore, Latvia holds full integration within key economic and political frameworks, encompassing the European Union, NATO, WTO, and OECD. Through these affiliations, Latvia propels trade, peace, and liberty across both Europe and the broader world. Its position within the global market provides investors with a combination of prospects and stability.

Streamlined bureaucracy

The Latvian government and local authorities have worked diligently to streamline procedures for doing business in Latvia. For example, you can incorporate a company in a single day. The government has developed and implemented a national strategy enabling communication, cooperation and execution of tasks among stakeholders — industry, government and academics — involved in making investments successful.

Collaboration with investors

Certainly, the Latvian government comprehends the essential nature of active dialogue between elected representatives and international investors. This interactive approach enables the identification and consideration of investment endeavors that hold specific significance for Latvia. When required, the Coordination Council for Large and Strategically Important Investment, overseen by the Prime Minister, takes charge of managing these investment projects. This Council plays a guiding role, ensuring the resolution of substantial matters that might emerge for individual investors. Operating as the Secretariat of the Council, LIAA provides its support.

Furthermore, pivotal investment matters regularly find their way to the government's attention through channels like the Foreign Investors' Council in Latvia, various chambers of commerce, and, in a less formal manner, via direct engagement with individual officials and decision-makers.

Significant EU Structural Funds available

As a member of the EU, Latvia operates under common, pan-European legislation. To further stimulate investment, the Latvian government is channelling EU Structural Funds to implement several state-support programs to foster business development.

Contacts

Riga office

Address: 2 Perses Street, Riga, Latvia, LV-1442
Web: www.investinlatvia.org
For more information: invest@liaa.gov.lv
Phone: +371 25710113
For tailored advice contact our team of experts