Employment, Financial Services, Good for Business, Investments, Latvia, Markets and Companies

He said that in the nine months of 2020, Latvia has attracted foreign investment in the amount of EUR 204 million, thus creating 2,300 new jobs. Rozkalns added that this is the largest amount of foreign investments attracted during the past seven years.

According to the director of LIAA, most investments have been attracted in the field of information and communication technologies (ICT). Also this year, 17 companies have moved from Belarus to Latvia, of which 15 operate in the ICT sector. In total, the mentioned Belarusian companies have created 1,000 new jobs in Latvia.

At the same time, Rozkalns expressed confidence that it is important to streamline state processes in order to further attract investments, therefore the LIAA will encourage to reduce the administrative burden in order to speed up the service of foreign investors, including those already working in Latvia.

The director of LIAA mentioned the availability of offices as one of the positive aspects in attracting foreign investors. He acknowledged that before the Covid-19 crisis, the availability of office space was a major problem, but now that many companies are working remotely, there are no longer any problems with the availability of offices.

Rozkalns informed that currently vacant office space is available in the area of 120,000 square meters, moreover, it is planned to build office space with the same amount of space by 2024.