News

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...
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...
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...
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 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...
Riga listed among 86 global financial centres in the Global Finance Centre Index
Riga, the capital of Latvia, has been included in the Global Finance Centre Index (GFCI 19) for the first time. The Baltic city secured the 71st place in the competitiveness ranking among 86...
Government and investors agree on priorities to improve investment climate in Latvia
On Friday 27 May, the participants of the 20th FICIL and Latvian government High Council Meeting agreed that this year’s priorities are sustainable economic development, justice and the rule of...
Green innovation forum to inform about green technologies
The Investment and Development Agency of Latvia (LIAA) invites to the Baltic Green Innovation Forum on June 15, 2016. The event will give an in-depth insight into “green” technologies,...
iCotton directs EUR 8.1 million investment into a new production line
Italian-Russian joint venture based in Latvia, iCotton, launched a new production line, investing EUR 8.1 million, co-financed by European Union funds and Citadele bank. The new production line...
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...
Latvian cities among top 10 European cities of future according to the latest fDi Intelligence report
Four Latvian cities ranked in top 10 in a variety of categories of the annual fDi Intelligence report, “fDi European Cities and Regions of the Future 2016/17 Rankings.” The capital of Latvia...
Latvian business delegation visits Beijing to participate in a seminar on business and culture exchange
On April 13, the opening of a two-week business and cultural seminar for entrepreneurs took place in Beijing, China. The business delegation from Latvia participating in the exchange includes 17...
Women make up one third of entrepreneurs in Latvia
One third or nearly 33% of entrepreneurs in Latvia are female and that statistic has held steady for a few years, according to an analysis by Lursoft, an IT services provider company. Overall trends...
LIAA’s activities expand to include tourism promotion
The functions of the Investment and Development Agency of Latvia (LIAA) have been expanded to include tourism promotion. As of February 1, 2016, in addition to stimulating export and foreign direct...