“2025 has been a breakthrough year for the Investment and Development Agency of Latvia (LIAA) - for the first time ever, the volume of attracted foreign investment will exceed one billion euros, export indicators are recovering, especially in services, and in foreign tourism we are approaching the results of 2019,” LIAA Director Ieva Jāgere emphasised at today’s press conference.
Continuing, the LIAA Director highlighted that this year LIAA proved that Latvia is able to compete for major international projects - and win. “Investors value our professional approach, transparent processes, and the state’s readiness to cooperate,” Jāgere said, adding that the reorganisation carried out over the past year has transformed the agency into an accessible and responsive partner for businesses, capable of reacting quickly to changes in the global economy.
LIAA investment portfolio reaches EUR 17.5 billion
This year, LIAA’s investment project portfolio reached EUR 17.5 billion, covering 184 projects in which 7,396 new jobs may potentially be created.
In total, the implementation of 20 new investment projects has begun this year, with a combined investment volume of EUR 745 million, not including the EUR 720 million forest acquisition deal by the investment fund “Ingka investment.” LIAA worked on enabling this deal for two years. Among the major publicly known projects are also the development of the Fibenol biorefinery in Valmiera with total investments of up to EUR 700 million, and Rheinmetall’s ammunition production plant with investments of EUR 270 million. Adding these to the rest, the total investment volume of projects launched this year will exceed one billion euros.
Exports: growing share of high value-added goods and services
In the first nine months of 2025, export growth was 4.4% higher compared to the same period last year. These results show that Latvia’s export sector is recovering and growing, yet the ability to drive change in the economy - by developing technologically advanced products, entering new markets, and reducing dependence on regions with slower economic development - remains crucial.
This year, LIAA organised more than 200 activities of various levels aimed at export growth. A total of 167 Latvian companies participated in 17 national stands abroad, showcasing success stories that confirm positive trends. For example, Tukuma Piens has tripled its exports to the Netherlands, Rīgas Piena kombināts has started exporting to South Korea and secured placement in 800 Kaufland stores in Germany, while Pharmidea has expanded its operations in South America and Australia.
A significant role in export promotion and investment attraction was also played by Latvia’s participation in the world exhibition EXPO 2025 Osaka, where the Baltic Pavilion was visited by 900,000 people. During the exhibition, 75 cultural and business events were organised, 200 Latvian companies were presented, and 34 cooperation agreements were signed.
International recognition for Latvia
The press conference also featured a presentation by Craig Turp-Balazs, Head of Analytics and Research at the think-tank Reinvantage. The latest Reinvantage study, The Investment Promotion Playbook 2025, evaluated LIAA as the best investment promotion agency in Central and Eastern Europe - ahead of Estonia, Lithuania, and 29 other countries.
The study highlights that Latvia’s success is based on an open and client-focused approach, digital competence, and well-structured state support for investors.
“Latvia is a strong example of how to build a trustworthy investment environment. Our analysis shows that investors are looking not only for lower costs but also for reliable cooperation partners, high-quality digital solutions, and professional support. LIAA is able to provide all this, ensuring long-term cooperation,” stressed Craig Turp-Balazs.
Photo gallery Ieva Jāgere’s press conference
About the Investment and Development Agency of Latvia (LIAA)
LIAA promotes the competitiveness of Latvian entrepreneurs, export growth, and investment attraction, and also develops the tourism sector and implements the national image strategy. The agency serves as the state’s partner in business development - from an idea to international markets. With an extensive network of foreign offices and regional business centres across Latvia, LIAA helps companies grow and positions Latvia as a safe, innovative, and open country in the global economy.
