News

Companies celebrate Latvia’s centenary with special products and wrapping designs
To mark Latvia’s centenary this year, many companies have developed special products or packaging of their products to reflect the celebratory event. The Food and Drug Administration of Latvia...
Business Forum “Discover New Business Opportunities. Discover Latvia.”
As Latvia’s centennial celebratory events are taking place across Latvia’s capital Riga and in other parts of the country, the Investment and Development Agency of Latvia (LIAA) held a...
A New Business Information Centre “Magnetic Latvia” Opened at Riga International Airport
The Investment and Development Agency of Latvia (LIAA) has opened a business information centre “Magnetic Latvia” at Riga International Airport. The Business information centre serves as...
Clients can now open a bank account in Latvia remotely
BlueOrange is the first bank in Latvia that has received the permit from the supervisory institution of the financial sector, Financial and Capital Market Commission (FCMC), to offer fully remote or...
New Information Site Launched for Start-Ups & Investors
An informative site startuplatvia.eu has been launched by the Investment and Development Agency of Latvia (LIAA) for foreign investors and foreign start-ups launching their businesses in Latvia. The...
Riga Airport Included in TOP5 Fastest Growing Airports of Europe
Riga International Airport made it into the top five fastest growing airports in Europe in the group of airports with 5-10 million passengers handled, according to the latest Airport Traffic Report...
US IT company Cognizant Opens New Delivery Centre in Riga
US IT company Cognizant opened a business consultation and solution delivery center in Latvia’s capital city, Riga. Now one of the company’s 100 development and supply centers around the...
Circle K Business Centre Riga wins the Recognition Award in USA-Europe Shared Services Summit
Reflective of the global trends, Global Business Service Centers (GBSC) is a rapidly growing sector in Latvia, and the recent award received by Circle K Business Centre shows that business centres...
Latvia’s Government and Foreign Investors hold their annual meeting
On June 7, representatives of the Latvian Government and the Foreign Investors Council (FICIL) held the annual High Council meeting to discuss future improvements in the business environment that...
A Memorandum of understanding for the development of Global Business Service Centers has been signed
The Memorandum of understanding for the development of Global Business Service Centers (hereafter ‘GBSC’) has been signed on 26th of April 2018. The Memorandum of understanding intends to...
airBaltic Receives the Market Leader Award by the prestigious Air Transport World magazine
Latvia’s airline airBaltic received the 2018 Market Leader of the Year award by the Air Transport World (ATW). ATW 44th annual Airline Industry Achievement Awards are the most coveted honour an...
Tele2 Shared Service Center’s Corporate Social Responsibility initiative wins an award in CCE region
The Riga based Shared Service Center (SSC) of the Swedish ICT company Tele2 has won TOP Corporate Social Responsibility (CSR) initiative of the Year in Central & Eastern Europe (CCE) for its...
Riga Airport Sets Another Record of Passengers Served in 2017
05.01.2018. Riga International Airport reached another record number of passengers served in 2017 – on December 28, the Airport welcomed its six millionth passenger. Lithuanian Egle...
Companies with most remarkable export potential and innovation rewarded during the annual competition
The winners of the competition Export and Innovation Award 2017 were announced by the Latvian Investment and Development Agency (LIAA) in cooperation with the Ministry of Economics on December 7....
Glass fiber fabric developed by a Latvian company used in fifth tallest buildling in the world
The fabric of glass fiber produced by Valmieras Stikla Skiedra, a Latvian company, is used in the South Korea’s capital Seoul's tallest building skyskraper Lotte World Tower, which is also...
Skrunda, a city in Latvia, used as one of the set locations for filming the blockbuster movie Justice League
In one of its epic battles, the superheros of the blockbuster movie Justice League can be seen fighting against the backdrop of Skrunda, a city in Latvia. The Hollywood production team of the movie...
New journal Innovation to discuss science and business
A new journal Innovation discussion science and business was launched at the end of November by the Investment and Development Agency of Latvia in cooperation with the Riga Technical University...
Latvia has the fastest growing economy in the Baltics
Latvia has been exhibiting the fastest growing economy among the Baltic countries over the last five years, according to the latest statistics of the third quarter of 2017 by the Central Statistical...
Latvia climbs five positions to rank 35th in ICT Development Index
Latvia this year ranked 35th in the ICT Development Index (IDI) of the United Nations specialized agency International Telecommunication Union (ITU). Compared to 2016, Latvia climbed five positions...
Three new accelerators open for business ideas
Fifteen million euro are available in funding from three new acceleration funds selected in a public procurement by the Development Finance Institution in Latvia Altum. The three acceleration funds...
Latvia to have a representation in Silicon Valley for Latvia’s start-ups in 2018
Latvia will have a representation in Silicon Valley for its start-ups beginning in 2018, according to the Ministry of Economics of Latvia. The announcement was made by the Minister of Economy Arvils...
Online informative guide available on the process of drawing up work permits for foreigners
Employers and job applicants can now use the informative online guide on the process of drawing up work permits for foreigners which is available at http://workinlatvia.liaa.gov.lv/. The informative...
Latvia places 19th in the “Doing Business” Index
According to the World Bank's latest "Doing Business 2018" rating of the world's countries with most favorable business environment, Latvia ranks 19th among 190 countries, leaving...
A new chocolate factory in Jelgava manufactures innovative chocolate Red
Chocolette Confectionary, a new chocolate factory opened its doors in the central Latvian city of Jelgava in November and is manufacturing innovative low-sugar chocolate called Red. The company will...
Latvia signs MOU with one of the world`s largest genome sequencing companies – BGI for developing a Life Science and Technology Center
On 27th November in the capital city of Hungary – Budapest, the annual 16+1 summit took place. Latvian Prime Minister Māris Kučinskis also participated in the event. During the summit 23...
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...
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...
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...
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...
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...