Posts Tagged ‘Latvia’
Another order for battery trains for Škoda Group. Up to 16 units will be delivered to Latvia
Latvia is preparing for another significant step in the modernisation of its rail transport. Autotransporta direkcija (ATD) announces that Škoda Group has been awarded with the contract to supply up to 16 battery electric multiple units (BEMUs) for regional transport.
The value of the contract comprising of the base delivery of nine trains, an option for seven additional vehicles, spare parts and training is nearly EUR 160 million. The first vehicles are scheduled to be deployed in the first half of 2029. Following the successful launch of battery trains in the Czech Republic at the turn of 2024 and 2025 and the signing of a contract for up to 36 battery trains for Slovakia, this is another order for the Škoda Group for this type of vehicle.
The units will also be the first Škoda Group battery-powered vehicles designed for a 1,520 mm gauge. They represent the next evolution of the successful platform of single-deck regional trains developed for the Baltic markets. The project is financed by the state budget of Latvia and EU Cohesion Funds, which are supporting the development of modern zero-emission mobility in Latvia.
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Originally published on 11 Dec
Read MoreLatvijas Banka is issuing a licence to Nexdesk SIA for the provision of crypto-asset services
On 10 December, the Supervision Committee of Latvijas Banka issued a licence to Nexdesk SIA for the provision of crypto-asset services.
The company is entitled to provide the following crypto-asset services:
- providing custody and administration of crypto-assets on behalf of customers,
- executing orders for crypto-assets on behalf of customers,
- transferring services for crypto-assets on behalf of customers.
Nexdesk SIA plans to provide its services both in Latvia and in other European Union (EU) countries.
Nexdesk SIA is the second crypto-asset service provider to receive a licence in Latvia in accordance with the requirements established in the EU Markets in Crypto-Assets Regulation (MiCA). Along with the entry into force of the MiCA Regulation, a unified legal framework for the crypto-asset sector, including the requirement for crypto-asset service providers to obtain authorisation, has been introduced in the EU. Upon obtaining authorisation in one EU country, a crypto-asset service provider may provide services throughout the entire EU in accordance with the mechanism for notifying cross-border activities.
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Originally published on 11 Dec
Read More“Fazer Latvija”: 18 million investment, the most modern bakery in the Baltics, and ambitions for further growth
Fazer Latvija is part of the international “Fazer” Group, founded in 1891 in Finland. The concern specializes in the production of bread, sweets, and other cereal and plant-based products. Over the years, Fazer has expanded its operations to eight countries, including Latvia, and now exports its products to roughly 40 world markets. Fazer Latvija is one of the largest bakeries in the country: the Ogre factory supplies bread and other products not only to Latvia, but also to Estonia, Lithuania, and Finland. The group’s trust in Latvia is also evident in its large-scale investments: last year they reached 18 million euros, and additional improvements of more than one million euros are planned for next year.
The past year marked a turning point for the Fazer structural unit in Latvia. The company made a strategic decision to merge its Baltic bread factories and concentrate production in one location – the Ogre region. Until now, production had taken place both in Latvia and Kaunas, but a detailed analysis showed that modernizing and consolidating production in Latvia would deliver greater long-term benefits.
With the implementation of this plan, total investments in Latvia reached 18 million euros. These funds were used to modernize and expand the production building, install three new production and assembly lines, and build a new warehouse. Although the modernization and automation of the factory on a Baltic scale generally meant a decrease in the number of employees, Latvia was an exception – around 60 new jobs were created at the Ogre factory during the project. As a result, the total number of employees at “Fazer” bread and confectionery factories in Latvia now exceeds 300.
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Originally published on 8 Dec
Read MoreUS-based startup “7 Knots Digital” begins European expansion from Latvia
The US-based B2B (Business-to-Business) digital marketing startup 7 Knots Digital begins its expansion in Europe from Latvia, James Karklins, founder and owner of 7 Knots Digital, told LETA in an interview.
7 Knots Digital was founded in New York over five years ago with the aim of helping B2B businesses, B2B media and technology companies turn content into measurable results. The company works with B2B media, technology companies and event organizers, including major industry trade shows and conferences, to help turn content and marketing campaigns into measurable results, Karklins said.
“We started in New York and have since expanded to Canada, Toronto, and now Riga, Latvia,” said Karklins.
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Originally published on 2 Dec
Read MoreEuropean Transport Corridor coordinator Mario Mauro visits Riga
On 1 December 2025, European Transport Corridor Coordinator Mario Mauro visited Riga to review Latvia’s transport priorities and developments within the TEN-T network. The visit focused on Latvia’s role in the newly defined European transport corridors, established under the TEN-T Regulation that took effect on 18 July 2024. Latvia participates in two of the EU’s nine corridors: the North Sea–Baltic Sea Corridor and the Baltic Sea–Black Sea–Aegean Sea Corridor.
Mauro met with representatives of Latvian Railways, RB Rail AS and European Railway Lines to discuss the Rail Baltica project, current rail sector developments and the impact of geopolitical conditions on freight volumes. Although freight has declined, passenger numbers continue to rise. Discussions highlighted the importance of military mobility, infrastructure upgrades, higher train speeds and a new rail link to Riga Airport.
Progress on the cross-border Rail Baltica project was reviewed, with Latvia stressing the need for continued Connecting Europe Facility funding beyond 2028 to meet the EU goal of completing the core TEN-T network by 2030. The parties noted positive developments in EU Council negotiations, with a partial agreement expected on 15 December.
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Originally published on 2 Dec
Read MoreLatvia takes first place in Investment Promotion Agency index
Latvia has been ranked nr. 1 out of 32 countries in the Investment Promotion Agency index as outlined in “The Investment Promotion Playbook 2025″ report by Reinvantage, an independent consultancy firm, for the second year in a row. The second place is taken by Estonia, with Lithuania ranked number 5.
The report by Reinvantage has assessed 32 countries across Central, Eastern, and Southern Europe, the Baltics, the Balkans, the Eastern Mediterranean, and Central Asia. The report has been published for 8 years consecutively, and has grown from its initial 23-country cohort to the now-expanded 32 countries.
The methodology is made up of scores across five categories, each weighted according to impact:
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Originally published on 1 Dec
Read MoreVenture Catalysts Batch 4 Concludes, Strengthening Latvia’s Deep Tech Innovation
On November 20, the fourth batch of Venture Catalysts, one of Latvia’s leading training program for science-driven innovation, officially concluded with 30 graduates, marking another important milestone in the country’s efforts to accelerate research commercialization and support early-stage deep tech ventures.
Over the past five weeks, researchers, doctoral students, innovators and aspiring founders engaged in an intensive curriculum designed to understand the basics of research commercialisation. Through interactive sessions, practical tasks, and expert mentoring, participants strengthened their skills in commercialization, team building, intellectual property, investment readiness and innovation strategy.
Developed and delivered by UniLab in collaboration with RTU Riga Business School, RISEBA, and the Investment and Development Agency of Latvia (LIAA), Venture Catalysts Batch 4 provided a comprehensive pathway for innovators working at the intersection of research, technology, and entrepreneurship.
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Originally published on 25 Nov
Read MoreConvershake secures €150,000 in investment
According to a statement posted on LinkedIn by the company’s co-founder Emīls Vāvere, the artificial intelligence startup Convershake has secured an investment of €150,000 from the Outlast Fund.
In the long-term, it is Convershake’s ambition to lead the way in the development of fully autonomous AI agents in the field of customer service. The company’s vision entails a gradual transition from human-supported AI solutions to an environment where AI agents, guided by Convershake’s software, manage all customer calls independently.
Outlast Fund partner Marija Ručevska notes that Convershake is changing the way in which customer service teams operate. Through its platform, which connects every information source and provides the correct answer instantly and in any language, Convershake helps call centres and their employees to save hours of time every week. According to Ručevska, there is a growing belief within the industry that AI assistants hold the key to the future of customer experience, a transformation lead by the team at Convershake.
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Originally published on 20 Nov
Read MoreAgro-construction in Latvia – a natural solution for sustainable building
As Latvia moves toward the European Union’s climate-neutrality goals, it is seeking new ways to reduce the construction sector’s carbon footprint and strengthen the use of local resources. One of the most significant yet underused opportunities is agro-construction – a sustainable building approach based on agricultural materials. It not only helps mitigate climate change but also creates new economic and social development opportunities for Latvia’s regions.
This topic has been brought to the forefront by the “Agro Building Carbon (ABC)” project, implemented by the Vidzeme Planning Region in cooperation with the Vidzeme University of Applied Sciences’ New Building School (JBS). The project aims to explore and strengthen the use of agricultural-based building materials, their carbon-sequestration potential, and their role in Latvia’s construction policy.
Conversations that set the direction
On September 25 of this year, project partners and industry experts gathered in Riga, at Paraugtipogrāfija, for the first joint discussion to share experiences and build collaboration networks. The conversations highlighted that hemp, straw, and other crops can significantly contribute to both construction and agriculture, while also helping to meet carbon reduction targets. It was emphasized that Latvia has a long history of cultivating these crops, yet the sector lacks sufficient processing capacity and clear regulations.
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Originally published on 19 Nov
Read MoreAS “Latvenergo” becomes a member of the Latvian Association of Artificial Intelligence
The Latvian Association of Artificial Intelligence (MILA) is pleased to announce that Latvenergo JSC, one of the leading energy companies in the Baltics, has joined its circle of members, creating and developing innovative solutions in energy production, transmission and trade.
The accession of AS Latvenergo to MILA confirms the growing interest of the energy sector in the use of artificial intelligence solutions. The company is already actively using data analytics, automation and forecasting models that help improve energy efficiency, optimize production capacities and ensure stable system operation. Artificial intelligence (AI) enables even more accurate forecasting of electricity consumption, market dynamics and support real-time decision-making — aspects that are becoming critical in today’s energy industry.
Simultaneously with the admission of AS “Latvenergo” to the MILA board, Ģirts Vikmanis adds to the membership of the MILA board, JSC “Latvenergo” Director of IT Development and Artificial Intelligence. Girt has extensive experience in digital transformation and technology development, and the IT development and artificial intelligence function under his leadership plays a key role in the implementation of innovative energy solutions.
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Originally published on 17 Nov
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