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Business
Data of business tendency surveys published on May 31 by the Central Statistical Bureau (CSB) show that the business environment in May 2023 continues to worsen in the manufacturing, construction and services sector, but retail trade is the only sector where the business environment is positive.
Latvia’s digital nomad visa was launched in April of 2022. After a year of its being in force, what has changed? Do we have a wave of digital nomads now residing in Latvia?
Forward IT Consulting is working on earz.ai, a voice recognition and translation system, which converts WhatsApp voice messages into written text automatically, reports Labs of Latvia.
The revival of Ukraine's economy will also be an opportunity for Latvian entrepreneurs, who should help Ukrainians to break into the European market, Aigars Rostovskis, president of the Latvian Chamber of Commerce and Industry, said in an interview to Latvian Television on May 26.
Farmers, especially fruit and berry growers, are currently in a difficult situation because the damage caused by the frost has severely damaged farms. The Latvian Agricultural Cooperative Association meets with fruit and berry producers on Wednesday to discuss the impact of the devastating frost of spring.
The candy producer “Pobeda” has been excluded from certain supply chains in Latvia and is ready to change its name after the news circulating in the media in March about the company's possible assistance to Russian soldiers in Ukraine, the Ventspils City Council told Latvian Radio on May 23.
The company “Kuldīgas maizes ceptuve/Kuldīga bakery” has decided to close the production plant, with more than 60 people losing their jobs, reported Latvian Radio on May 18.
Beat the Storm and its wind tunnel attraction has won the national final of the Creative Business Cup 2023 international business idea competition, receiving a prize of EUR 3000 and the opportunity to represent Latvia at the Creative Business Cup Global in Copenhagen in June, reports Labs of Latvia.
Latvian construction equipment rental company Storent Holdings, which is one of the largest suppliers in the Baltic states, reported May 10 that in 2022 it showed a net profit of 4.7 million euros.
The Swedish medical mattress production company Care of Sweden plans to start production in a newly established factory in Liepāja at the end of this year. It is planned to invest two million euros in the creation of the factory, said the Latvian Investment and Developent Agency (LIAA) on May 2.
Adventum Tech, a startup based in Latvia, took home the main prize at the TechChill conference’s famous Fifty Founders Battle in Rīga April 28.
Data of business tendency surveys published on April 28 by the Central Statistical Bureau (CSB) show that in April 2023 business environment has worsened in all business sectors.
On April 27 and 28 in Rīga, Hansa Platform, the startup conference TechChill 2023 is taking place in Rīga with international startups taking part, Latvian Television reported.
Investors with total potential investments of €1.9 billion are currently interested in Latvia, said Kaspars Rožkalns, Director-General of the Latvian Investment and Development Agency (LIAA), in an interview with Latvian Television on April 25 morning.
On April 24, for the eighth consecutive year, the Foreign Investors Council in Latvia (FICIL) presents its assessment of the business environment in Latvia, taking a closer look at developments regarding public sector reform, workforce availability, fair competition, combatting shadow economy as well as other key topics of concern.
The fifth edition of the 'Deep Tech Atelier' event is taking place in Riga from 20 to 21 April, focussing on space and photonics technologies.
2023 will be a breakthrough year for business investment in the Latvian capital, Rīga mayor Mārtiņš Staķis predicted April 19 on Latvian Television's 'Morning Panorama' news show.
The European Investment Fund (EIF) and Noviti Finance, Lithuania's alternative non-bank business financier, have signed a portfolio guarantee agreement under which almost €47 million will be lent on preferential terms to micro-businesses in Lithuania, Latvia, and Poland.
The Latvijas Gāze natural gas utility has signed a definitive agreement to sell its subsidiary GASO to Estonian gas company Eesti Gaas, according to Latvijas Gāze's statement to Nasdaq Riga.
Data released by the Central Statistical Bureau of Latvia April 14 show that in February 2023 the number of non-resident and resident arrivals at tourist accommodation establishments totalled 128.6 thousand, which is 45.6 % more than in February 2022.
An engineer by education, the Latvian-born but Stockholm-based Kristaps Prūsis went on to work in management consulting. After getting involved in several startups, he co-founded Vntrs venture studio and is its CEO. In the studio’s seven years of operation, it has invested in over 30 startups in the Nordic and Baltic region, including Beleco, Strawbees and Combify. It currently has offices in Stockholm and Tallinn with a total team of approximately 50 people.
In order to revitalize the Rīga city center, the municipality could introduce a grant program for companies to rent premises that have long been empty, Mayor Mārtiņš Staķis told Latvian Radio in an interview on April 12.
Zabbix, a provider of open-source monitoring, has opened a new office in Mexico, reports Labs of Latvia. This is the Latvian company’s fourth international office.
On April 6 the American Chamber of Commerce in Latvia (AmCham) marked its 30th Anniversary with a black-tie dinner attended by President of Latvia Egils Levits and new U.S. Ambassador Christopher Robinson.
Compared to other countries in the region – Lithuania, Estonia, Poland, and Scandinavian countries – banks in Latvia are less open to business and business lending, Aigars Rostovskis, president of the Latvian Chamber of Commerce and Industry (LTRK), said in an interview to Latvian Radio on April 4.
Data of business tendency surveys published March 31 by the Central Statistical Bureau (CSB) show that in March 2023, business confidence indicators are positive in the retail trade and services sector, while in manufacturing and construction, business confidence indicators are still negative.
Although the volume of e-commerce in Latvia has been growing rapidly in the last three years, the pace has started to slow slightly in the last three months. Was the breakthrough in e-commerce a temporary boom during the Covid-19 pandemic time, or is Internet shopping to stay? Latvian Radio spoke to industry representatives on March 29.
The global biotechnology firm Roche has announced the launch of a new branch of its Roche Services & Solutions (RSS) EMEA (Europe, Middle East and Africa) center in Rīga, reports Labs of Latvia.
The economic representative office of the Latvian Investment and Development Agency (LIAA) in Melbourne, Australia, has started work, LIAA confirmed March 22. The decision to establish an economic representation office in Australia followed as a logical continuation of the long-anticipated opening of the Latvian Embassy in Canberra in August 2022.
The State Security Service (VDD) is checking information related to the possible involvement of the Latvian-based chocolate manufacturer SIA "Pobeda Confectionery" in providing support to the Russian armed forces, the LETA news agency reported March 23.
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