Business
Business environment in Latvia declines in most sectors
Business environment in Latvia declines in most sectors
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.
LTRK President: Latvians should help Ukrainians into the European market
LTRK President: Latvians should help Ukrainians into the European market
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 uncertain about survival after spring frosts
Farmers uncertain about survival after spring frosts
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.
'Pobeda' candy producer considers name change after war support allegations
'Pobeda' candy producer considers name change after war support allegations
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.
Popular Kuldīga bread bakery to close
Popular Kuldīga bread bakery to close
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. 
Swedish firm to open Latvian medical mattress factory
Swedish firm to open Latvian medical mattress factory
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 triumphs at TechChill
Adventum Tech triumphs at TechChill
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.
TechChill 2023 taking place in Rīga, Latvia
TechChill 2023 taking place in Rīga, Latvia
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.
VIDEO:  FICIL Sentiment Index presentation
VIDEO: FICIL Sentiment Index presentation
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.  
Tourist sector revival continued in February
Tourist sector revival continued in February
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. 
Interview: Bringing 'sweat equity' to the Baltics
Interview: Bringing 'sweat equity' to the Baltics
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. 
AmCham celebrates 30 years of Latvia-U.S. commerce
AmCham celebrates 30 years of Latvia-U.S. commerce
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.
Chamber of Commerce: banks in Latvia hesitant to lend to businesses
Chamber of Commerce: banks in Latvia hesitant to lend to businesses
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.
Business environment went up in all sectors in March
Business environment went up in all sectors in March
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.
E-commerce growth slows down in Latvia, say experts
E-commerce growth slows down in Latvia, say experts
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.
Latvia opens new investment office in Australia
Latvia opens new investment office in Australia
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.
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