Latvia climbs the positions in the Worlds Bank’s Doing Business report

Latvia improved business environment and regulations making the business processes easier for entrepreneurs thus increasing the positions in annual World Bank’s Doing Business report from 27th position last year to 24th position this year within a competition of 117 economies. Compared to the previous year Latvia left behind such strong and traditional European economies as Belgium, France and Switzerland. Among benchmarked indicators Latvia performed very well in getting credit index (6th position) and enforcing contract index (14th position). 

Doing Business report analyzes regulations that apply to an economy’s businesses during their life cycle, including start-up and operations, strengthening transparency and property rights, and improving the efficiency of commercial dispute resolution and bankruptcy procedures.

Latvian government continues the work on improvement of business environment to enable Latvia to climb even higher positions in the future. This work is conducted in close cooperation and dialog with the Foreign Investors' Council in Latvia (FICIL), implementing majority of recommendations proposed by FICIL that are targeted at improvement of business environment.