Memorandum of Understanding signed to promote investment in Latvia’s transport and logistics sector
On 1 April 2026, a Memorandum of Understanding (MoU) on the promotion of long-term investment in Latvia’s transport and logistics sector was signed at the Ministry of Economics. The memorandum was signed by Minister of Economics Viktors Valainis, Director General of the Investment and Development Agency of Latvia (LIAA) Ieva Jāgere, and Povilas Drižas, Secretary General of the International Transport and Logistics Alliance (Tarptautinio transporto ir logistikos aljansas – TTLA). The objective of the memorandum is to facilitate the expansion of Lithuanian transport and logistics companies in Latvia, strengthening regional cooperation and developing a competitive transport and logistics ecosystem in the Baltics.
The International Transport and Logistics Alliance (TTLA), founded in 2019, unites 25 of Lithuania’s largest transport and logistics companies and represents a significant share of the international road freight market. The organization works to enhance the sector’s competitiveness and represent business interests at both national and international levels. TTLA members are international hauliers operating in European and Asian markets, forming a vital link in the Baltic region’s logistics chains.
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Originally published on 8 Apr
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The coalition parties have agreed that either the state or Elering will support the construction of energy storage capacities. The Ministry of Climate historically believed energy storage would be built on market demand. The Ministry of Education and Research, Kristina Kallas stated, “If we purchase offshore wind energy on a large scale and develop these capabilities, we must also ensure that we have the infrastructure for long duration energy storage.” She emphasised that constructing an offshore wind facility without appropriate energy storage poses a significant risk of energy being exported.
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Originally published on 27 Jan
The Estonian Ministry of Economic Affairs and Communications has announced the launch of a €100 million Defence Fund, established to support the development of innovative defence and security capabilities to meet the growing global demand for new solutions. Managed by national fund manager SmartCap, the fund will provide direct investments to defence companies and funds investing in military and dual-use technologies.
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Originally published on 21 Jan
Doubts have been raised about Energiø Bornholm’s relevance and economy, but the project has never been more important. Besides being a crucial project in the European fight against climate change, the energy island has every opportunity to become a good business for Denmark.
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Originally published on 15 Jan
US healthcare products manufacturer Hollister Incorporated is expanding its Lithuanian operations. This month, the company has officially opened its financial services center, Hollister SSC Lithuania, complementing its manufacturing facility, Hollister Lietuva, located in the Kaunas Free Economic Zone. Building on this growth, the company has announced plans to establish a new product development (NPD) center at its Lithuanian facility later in the year.
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Originally published on 14 Jan
Estonia opened the first Business Hub in U.S. Located at the Embassy of Estonia in Washington, D.C., the Business Hub will serve as a bridge between Estonian companies and the vast business opportunities in the U.S. market. A delegation of Estonian defence industry innovators was present at the opening event, also attending the annual AUSA conference.
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Originally published on 17 Oct