Posts Tagged ‘LIAA’
50% of survey respondents believe an offshore wind park will have a positive impact on Latvia’s economy
The latest survey data show that public awareness in Latvia about wind park development plans and energy security issues is gradually increasing. For example, 65% of respondents in a survey conducted by Norstat Latvia report that they are at least somewhat informed about the plans to develop offshore wind park in Latvia. At the same time, society increasingly supports a “moderate” development approach – more and more residents believe that Latvia should become an energy-neutral country and produce only as much electricity as it consumes domestically.
A survey commissioned as part of the ELWIND project shows that public awareness of the joint Latvian–Estonian initiative to develop an offshore wind park in the Baltic Sea has increased. This year, 65% of respondents say they are aware of the project (61% last year). Most people have heard about the project but are not familiar with all the details, while only a small share report having a very good understanding of it.
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Originally published on 9 Mar
Read MoreSlovenian company NGEN Group enters Latvia: will develop energy storage project using Tesla technologies
At a media event hosted today by the Investment and Development Agency of Latvia, it was announced that the Slovenia‑based energy company NGEN Group is entering the Latvian market with a €50 million investment.
According to information provided by investors, a deal has been concluded whereby NGEN Group has become the 100% owner of SIA “Liepāja ESS” to implement a stand-alone grid-connected battery energy storage project with a capacity of 100 MW and a storage capacity of 200 MWh in Grobiņa parish, Dienvidkurzeme region, at the Grobiņa substation. Construction work is planned to be completed this year.
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Originally published on 3 Feb
Read MoreLatvia Sets Investment Record: Over €1 Billion in FDI Attracted in 2025
In 2025, with the involvement of the Investment and Development Agency of Latvia (LIAA), the implementation of 31 investment projects was launched. The total value of these projects reached €1.01 billion, and 1,350 new jobs will be created. The largest projects last year were related to bioeconomy, smart energy, high-value-added manufacturing, ICT, and other sectors.
Minister for Economics Viktors Valainis: “Latvia aims to be among the most attractive investment destinations in the region, and LIAA’s results in 2025 confirm this—the Agency has attracted the highest investment volume in a single year in Latvia’s history. It is particularly significant that data from the Bank of Latvia show that in the first three quarters of 2025, the total volume of foreign investment increased by €700 million. This means Latvia can and does compete. Our task is to continue improving the business environment, removing obstacles, and ensuring investors have a clear, fast path from concept to implementation.”
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Originally published on 15 Jan
Read MoreOpen call for applications for foreign film and major event support programs; €10.7 million available over two years
From December 15, the Investment and Development Agency of Latvia (LIAA) will begin accepting project applications for the foreign film and major event support program with total funding of €10.7 million over a two-year period. Applications will be accepted until January 30, 2026.
The program helps Latvia compete internationally by attracting new film projects and encouraging event organizers in Latvia to hold international events that attract large numbers of foreign visitors.
The program aims to promote the export of services, raise Latvia’s profile, and generate long-term economic benefits by using Latvia as a platform for film production and international events.
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Originally published on 16 Dec
Read MoreFintech in Latvia: 127 companies, 91 million in taxes, and the ambition to grow in global markets
There are 127 financial technology companies operating in Latvia, employing more than 3,600 people, generating a turnover close to 400 million euros, and paying over 91 million euros in taxes annually. These facts were highlighted today at the Fintech Breakfast “What is needed to realize Latvia’s FinTech ambitions?”, held at RTU Riga Business School (RBS) and organized by the Fintech Latvia Association and the RBS Baltic Financial Center. During the event, participants were introduced to the latest industry data, development dynamics, and its impact on the national economy, as well as key directions and practical steps for strengthening the sector going forward.
Latvian Fintech Observatory — a foundation for data-driven policymaking
To set the stage for further discussion, Kristīne Dambe, Director of the RBS Baltic Financial Center, presented the newly developed pilot tool — the “Latvian Fintech Observatory”, a comprehensive database of Latvian fintech companies. The tool is designed to provide policymakers, university students, lecturers, and other stakeholders with an independent, data-driven view of sector development. “The industry must take collective responsibility for its own progress. We can shape our own narrative and learn from our neighbors, but it is crucial to base decisions on data that reflect real trends and can serve as input for strategy. We hope the observatory will encourage discussions grounded in facts rather than assumptions and inspire the next generation of fintech creators,” emphasized Dambe.
Policymakers: fintech — export potential and global competitiveness
Minister of Economics Viktors Valainis highlighted the importance of export capacity: “We all want Latvian-founded companies not only to strengthen the local economy but also to become export-capable technology firms. In fintech, we have several strong players proving that we can be competitive internationally. Therefore it is important to create an environment that encourages companies to choose Latvia as a place to grow and develop both regionally and globally, and to actively promote Latvia internationally by engaging potential investors and partners. The industry has great potential, and we have planned a series of initiatives on our side to continue supporting it.”
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Originally published on 12 Dec
Read MoreLatvia to Host CiTech’s European Operations Following Multi-Year Cooperation with LIAA
Critical Infrastructure Technologies Ltd. (CiTech), an Australian developer of cutting-edge mobile communications platforms, has announced the establishment of its wholly owned Latvian subsidiary SIA CiTech Europe, with plans to make Latvia the company’s European headquarters by 2026. The decision marks a significant milestone in CiTech’s global growth strategy and positions Liepāja as a key hub for the company’s European manufacturing, sales, and innovation activities.
CiTech’s planned facility will be in the Liepāja Special Economic Zone (LSEZ), taking advantage of the region’s excellent logistics, access to European markets, and competitive tax incentives — including a corporate tax rate of just 4% within the SEZ.
The company’s CEO, Brenton Scott, emphasized Latvia’s strategic importance for CiTech’s European expansion: “Our engagements with Latvian authorities have confirmed Latvia’s attractiveness as the home for our European headquarters. We are very excited to be accelerating our establishment in Latvia, building strong partnerships and creating a hub to support defense, border security, surveillance, and innovation across the European market.”
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Originally published on 16 Nov
Read MoreLatvia’s space and smart technology potential presented at EXPO Japan
In September, Latvian entrepreneurs and scientists participated in the world’s largest exhibition, EXPO 2025 Osaka, at a business conference organized by the Investment and Development Agency of Latvia (LIAA) entitled “How Innovation in the Aerospace Industry Can Promote Sustainability and Environmental Conservation,” highlighting Latvia’s expertise and innovation potential in the field of space and smart technologies.
The conference took place as part of the Expo 2025 Osaka thematic week “The Future of Earth and Biodiversity,” bringing together experts, industry representatives, academics, and students from Latvia, Japan, and other countries to seek solutions on how sustainable aerospace technologies can help preserve the environment and biodiversity.
The conference was opened by Latvian Foreign Minister Baiba Braže. In her speech, she emphasized: “Latvia’s achievements in innovation, ICT, quantum technology and other new technology fields are recognized worldwide. The geopolitical situation has promoted the development of the domestic security industry, including in the field of drone technology. Latvia also has the advantage of extensive technology testing opportunities – more and more manufacturers from our allied countries are coming to Latvia to test the latest generation of drones. We have also achieved a lot in quantum technologies – we are a “small quantum superpower” whose professors have developed algorithms that account for up to 20% of the world’s quantum algorithms. The minister also pointed out that confirmation of our companies’ achievements is also reflected in investor assessments – the investment climate in Latvia has improved significantly, and half of existing investors plan to continue investing in Latvia in the future.
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Originally published on 29 Sep
Read MoreLIAA digitization support program: 5.4 million euros reserved, but funding still available
Since July, when the Latvian Investment and Development Agency (LIAA) began implementing the second round of the digitalization support program, the total funding of which is 18.5 million euros, 5.4 million euros have been reserved and entrepreneurs will be able to apply for the program until the support funds are available.
“Digitalization and the implementation of artificial intelligence solutions are one of the ways to increase the competitiveness of the Latvian economy, therefore it is a special pleasure that the majority, or 4.28 million euros, of the currently reserved funds in this program are intended specifically for projects in the field of artificial intelligence. We will most likely accept applications in this program at least until the end of this year,” emphasizes LIAA Director Ieva Jāgere.
A total of 285 applications have been received in the program so far, including 66 for the implementation of artificial intelligence solutions.
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Originally published on 5 Sep
Read MoreLatvia Ready to Adopt Norway’s Experience in Green Hydrogen Development
Today, a study was presented regarding the role of green hydrogen in the Norwegian economy and its potential development in Latvia. Currently, Norway produces 10% of Europe’s total green hydrogen, making it the second-largest player in the industry after Germany. Latvia has also begun early-stage hydrogen technology applications in various sectors, including water transport and aviation fuel, which could potentially establish a new economic industry.
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Originally published on 10 Mar
Read MoreIeva Jāgere to head Latvian investment agency
The open competition for the position of director of the Investment and Development Agency of Latvia has concluded with a nod from the minister of economics to Ieva Jāgere.
Ieva comes to the position with more than 15 years of experience in corporate finance. She has led high-volume investment attraction deals and, until her appointment, worked at ALTUM, a financial institution. Additionally, Ieva is a managing partner at Callidus Capital, a financial and investment consultancy, as well as an independent member of the Internal Audit Committee at Indexo.
From 2016 to 2022, Ieva served as CEO of Callidus Capital. Prior to that, she spent more than three years as head of corporate finance at Oaklins Baltics, where she was responsible for investment attraction and deal management for various clients.
The newly appointed LIAA director holds an MBA from the Stockholm School of Economics in Riga and a master’s in international economics and business from the University of Latvia.
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