Doing Business in Latvia

There are many opportunities for UK Business in Latvia. We provide a wealth of information and guidance on doing business in Latvia.

This includes:

• Doing Business Guide

• Sector Reports

• FCO Country Updates

• Overseas Security Information for Business (OSIB)

What are the Opportunities?

There are many export and investment opportunities for British companies in Latvia. UK Trade & Investment has identified these sectors as offering the best potential:

• Timber and timber processing – Latvia has one of the richest forest resources in Europe, covering 44 per cent of the country

• Transport infrastructure - development of airports, transit development through ports and other links, modernisation of rail transport system, development of the state road traffic networks

• Environment – equipment and technologies, waste management, energy from waste, landfills and sorting facilities

• Energy & Power - new power plants, renovation of electricity transmission grid, cogeneration, renewable energy, energy efficiency projects, microgeneration, energy measuring gadgets, CO2 collecting and storing technologies.

• Tourism and Leisure, ICT, Education & Training, Engineering & Machinery are also areas where considerable potential exists. Other sectors also can be considered depending form particular situation.

Between 2007 and 2013 about 3.2 billion lats of EU funding have been made available to Latvia. In 2010 the Latvian economy expects to receive 486.5 million lats from EU funds, including 105.2 million lats for transport and ICT, 91.8 million lats for employment projects, 89.8 million lats for energy and environment, 85 million lats for business and innovation, 70.8 million lats for urban environment, tourism and cultural projects, and 43.9 million lats for culture and science.

Guide to Doing Business in Latvia

UKTI has produced a guide aimed at companies experienced in overseas trade who are new to doing business with Latvia. This guide aims to provide a route map of the way ahead, together with signposts to sources of help.

• Introduction

• Preparing to Export

• How to do Business

• What are the challenges

• Business Etiquette

• How to invest in Latvia

• Contacts

Download the Latvia Doing Business Guide

Sector Reports

For information on your sector in Latvia including characteristics of the market, opportunities and key contacts, please check out the latest sector reports.

See all Sector Reports for Latvia

Baltic Business Excellence

A young, well-educated, and innovative labour force is only one of the many reasons why British companies have brought their business to the Baltics. Good geographical links, a favourable tax environment, and stable political and economic situations provide the ‘recipe for success’ enjoyed by British businesses in Estonia, Latvia and Lithuania.

Have a look at the Baltic Business Excellence video to see why British companies know the Baltics are remarkable places to conduct business.

Watch the video on the UKTI YouTube channel