News

Leading business process outsourcer WEBHELP officially unveils new site in Riga
Leading global business process outsourcing and customer experience expert Webhelp, officially unveils a new site in the capital of Latvia, Riga and is to create more than 200 jobs by the end of the...
Latvia peforms the world’s first human flight with a drone and jump at high altitude
The honor of the world’s first human flight with a drone and jump at high altitude goes to Latvia as the stunt was performed on May 12. A 28-propeller drone built by Aerones lifted skydiver...
Rail Baltic Global Forum takes place in Latvia
A two-day Rail Baltica Global Forum took place in March in Riga to focus on the project and discuss the business opportunities it will open up for businesses and individuals. The milestone...
Latvian startup Creamfinance attracts 21 million EUR investment
The Latvian startup company Creamfinance announced a 21 million EUR deal with the South African bank Capitec Bank Holdings Limited (Capitec). The transaction is the second investment round and it...
Latvian startups win big at the Latitude59 conference
Latvian startups Funderful and Coffee Pixels won in competitions at the Latitude59 conference held in Tallin. Funderful won the grand prize in the pitch competiton in the Seed category receiving...
Latvian board game Ice Cool awarded the best children’s game in the world prize
Latvian board game Ice Cool was awarded the top prize of best children’s game in the world by the prestigious annual board game prize Spiel des Jahres in the category for best children’s...
Wasserkabel Baltic opens a factory in Ventspils
At the beginning of the summer, Wasserkabel Baltic opened a low temperature heating and cooling system components plant in Ventspils, the port city on the West coast of Latvia. The new plant is...
Riga Airport Becomes the Fourth Official ACI Training Centre in Europe
An agreement granting Riga International Airport Training Centre representation rights of the ACI official training centre was signed at Airports Council International (ACI) General Assembly in Paris...
Latvian data visualization company Infogram acquired by Prezi
The leading Latvian data visualization web-based company Infogram has been acquired by another data visualization giant Prezi. Based in Latvia and founded in 2012, Infogram specializes in charts and...
Latvia-India Business Conference underlines the future cooperation potential
In May, Latvia hosted Latvia-India Business Conference. Organized by the Investment and Development Agency of Latvia in cooperation with the Embassy of India in Stockholm, the conference gathered...
Government and investors meet to discuss the improvement of investment environment
On Friday May 26, the 21st Foreign Investors' Council in Latvia (FICIL) and Latvian government High Council Meeting was held. The most important topics for this year included economic growth and...
German investors rank the Baltics as the best place for investment in Central and Eastern Europe
German businesses consider the Baltic countries the best place for investment in comparison to other countries in Central and Eastern Europe, according to a survey conducted by the German-Baltic...
airBaltic opens domestic flight Riga-Liepāja
In May airBaltic, Latvian national airline, began operating domestic flights from Riga to Liepāja, opening up new travel opportunities between both cities, as well as increasing convenient...
Join Creative Business Cup 2017
“Creative Business Cup” is a global network for innovative business connecting startups, industry experts, investors, businesses and the global market. Each year 100 National Partners...
Government and investors to discuss the improvement of investment environment
On Friday 26 May, the 21st FICIL and Latvian government High Council Meeting will be held. The most important topics for this year include economic growth and tax policy, the fight against economic...
Global business process outsourcing provider Webhelp will open a center in Latvia
PARIS, Apr 11, 2017 – Leading global business process outsourcing and customer experience expert Webhelp, has announced plans to expand its business with the addition of a new site in the...
AirBaltic begins to fly Bombardier CS300
This year, airBaltic began replacing the Boeing 737s with the new custom made Bombardier’s CS300 aircraft. In total, Latvia’s national airline will receive 20 new aircraft, which will...
Latvia ranks 20th in the Economic Freedom Index
Latvia ranks 20th in the annual Economic Freedom Index, released by the Heritage Foundation and Wall Street Journal. Compared to last year, Latvia has climbed 16 places. The authors of the study...
Using neural networks, Latvian IT company Tilde created innovative machine translation service for Arabic
Using neural network technology, IT company Tilde has created an innovative machine translation service for the Arabic language. The new machine translation technology is currently being tested by a...
Latvia is one of 19 countries to manufacture bioreactors
There are 19 countries in the world producing bioreactors, and Latvia is one of them. The bioreactors designed and manufactured by Biotech Center (Biotehniskais centrs) are purchased and used in...
Six Latvian start-ups receive StartUp Europe Awards in Latvia
Six Latvian start-ups were recognized for their innovation and work during the start-up conference TechChill in Riga in February by receiving StartUp Europe Awards 2016 (SEUA) in Latvia. Desktop...
Tieto develops Kenya's first digital card and payment solution for Commercial Bank of Africa
Commercial Bank of Africa launched a new digital banking solution based on a mobile app named Loop, making it the first of its kind in Kenya and in the region. Latvian IT company Tieto developed and...
With new EU regulations coming into effect, Fintech sector eager to expand
For the last decade, Fintechs and other non-bank companies across Europe, including Latvia are emerging and gaining market share of the financial services sector. The European Union (EU) revised...
Latvia soon to be home to the biggest IKEA store in the Baltics
At the beginning of the year, Swedish retailer IKEA (Paul Mason Properties) revealed the plan to open its biggest store in the Baltics in Latvia next year. With planned investments of 60 million EUR,...
Financial support and programs offered for foreign investors to train employees
Effective February 1, 2017, qualified companies registered in Latvia with foreign direct capital can apply for funding and administration of employee training programs. Large companies can receive...
Latvia is a great place for foreign investment says the former U.S. secretary of state
Latvia is a great place to invest in and has a great potential for attracting foreign investment, according to the former U.S. Secretary of State John Kerry, who visited Riga in March. Kerry, who is...
Baltic Shared Service Community meeting
Riga will be the host of the next Baltic Shared Service Community (BSSC) meeting which will take place on Thursday, March 23, 2017. The quarterly meetings gather...
Riga Airport reached a new passenger traffic record in 2016
Demonstrating its leading position in the Baltic region the Riga International Airport achieved a new passenger traffic record in 2016 exceeding the threshold of 5.3 million passengers...
Mathematician and quantum physicist Andris Ambainis voted European of the Year in Latvia
Latvian computer scientist and quantum computing physicist Andris Ambainis has been awareded the prestigious title European of the Year in Latvia...
Latvian and South Korean waste management companies to cooperate
On February 24, 2017, Latvian environmental management company ECO BALTIA and South Korean MECEN IPC made an agreement to cooperate in handling waste management in Latvia...
Latvia places third among OECD’s member states for tax competitiveness
Latvia’s tax system ranks third among those of the Member States of the Economic Cooperation and Development (OECD), according to the organization's latest "2016 International Tax...
Pondering Brexit, optimistically looking into the future
The Brexit vote in early summer and US elections in late autumn have shaken up the investor communities around the world. The argument goes that in today’s globalized world no one can escape...
Latvian company produces the fastest ultra ultraweight aircraft
‘’Be fast or be the last’’ is the motto of Pelegrin, a Latvian aircraft manufacturing company in Ādaži, on the outskirts of Riga. Founded in 2010 by avid aviation...
Latvia passes a new law that provides special support for startups
On November 23, the Latvian parliament passed a new start up law that creates a favorable tax regime for startups. The law foresees two tax plans: a special flat tax regime, currently 252 euros/month...
iCotton to build a new production facility
Italian-Russian joint venture in Latvia, iCotton plans to build a new 10,000 square meters production facility in Liepaja, according to the company’s CEO Sergey Binkovskis. The building the...
Buch group moves full production-line from its Swiss headquarters to Latvia
Bucher Municipal, a subsidiary of the Swiss-based manufacturer of machinery and equipment Bucher Group, launched two new assembly lines in the fall of 2016. Two- and four-cylinder street sweeping...
17 million Hi-Tech Park to be built next to Riga Airport
Plans are in place to develop a hi-tech science park next to the Riga International Airport. The development project will cost 17 million euro, and financing for it also comes from the European Union...
Latvian IT company’s program used to store data in the cloud
Latvian IT company Knowledgeprice.com has helped the British bank OakNorth to become one of the first banks in the UK to store its basic systems in the cloud. British financial supervisors and...
Latvia Up to 14th place in doing business rating
Latvia has climbed to 14th position from the 22nd place last year in the World Bank's Doing Business 2017 rating. The change has come thanks to an improved accessibility to credit information and...
Latvia becomes fastest growing innovator in EU
Latvia has become the fastest growing country in the EU as regards innovation, according to the 2016 results of the European Innovation Scoreboard, the Regional Innovation Scoreboard and the...
Riga – one of the fastest growing European cities by number of companies with high growth rates
The capital city of Latvia, Riga, ranks fourth on the list of fastest growing European cities by number of companies with high growth rates, according to Inc. 5000 Europe 2016. The largest city in...
Latvian companies awarded in Europe’s biggest business competition
At Gala Event of 2015/16 European Business Awards competition being held in Milan recently category winners were announced and all finalists crowned. Leading academics, politicians, ambassadors, and...
The Investment and Development Agency of Latvia opens a new representative office in Ningbo, China
In June 2016, the Investment and Development Agency of Latvia (LIAA) opened an office in Ningbo, one of the biggest port cities in China. Similar to the other LIAA representative offices abroad, it...
Tele2 shared service center expands and inaugurates a new office building
On June 8, 2016, IT company Tele2 Shared Service Center (Tele2 SSC) inaugurated a new office building at 42 Mukusalas Street in Riga. A company of the Swedish Tele2AB group, Tele2 SSC provides...
The 20th FICIL and Latvian government High Council meeting
This year marks the 20th anniversary of the High Council Meetings between the Foreign Investors’ Council of Investors in Latvia (FICIL) with the Government of Latvia. The two sides have been...