Business
In the Baltic pavilion design contest of the international exhibition Expo 2025 Osaka, the first place and a prize of EUR 10,000 was awarded to the design submitted by the Kettler association which uses the motto "We are one" to represent the two distinct states of Latvia and Lithuania, the Investment and Development Agency of Latvia (LIAA) said July 23.
The financial technology platform smeGo has allocated 250 thousand euros to develop the business and production facilities of Kale Latvia Organic, reports Labs of Latvia.
Central Statistical Bureau data published July 15 show that in May 2024 there were a total of 228.8 thousand arrivals at Latvian tourist accommodation establishments, which is 13.2 % more than in May 2023.
The Riga Investment and Tourism Agency (RITA) will introduce a new investment support program, the "Startup Houses Support Program" designed to promote the operations of startup hubs in Riga, the agency said July 11.
In the first 6 months of this year, 28 investment projects have been implemented in Latvia with the participation of the Latvian Investment and Development Agency (LIAA), which will invest a total of EUR 263 million in the economy and create 1,245 new jobs, according to figures published by LIAA itself July 5.
The newly opened wood pre-processing plant of the joint stock company "Latvijas finieris" has started work in Kuldīga in test mode, Latvian Television reported on July 3.
Tech Mahindra, an Indian technology consultancy and digital solutions provider, opened a business process outsourcing center in Rīga on July 2 in the office complex "Jaunā Teika".
Latvian coffee company SIA Kalve Coffee said July 2 it plans to perform an initial public offer (IPO) in the second half of this year, raising "at least EUR 1 million" to expand its operations.
Pro Vape, an electronic cigarette manufacturer operating under the "Salt" brand, has challenged the restrictions on flavors in electronic smoking devices from next year before the Constitutional Court (ST), LETA reports July 2.
The number of visitors coming to Latvia from the United States saw a significant rise in 2023, according to a release from the Latvian Investment and Development Agency (LIAA) July 1.
The Latvian start-up P-Agro Minerals develops and manufactures an environmentally friendly mineral material called 'Letonite', which is specifically designed to facilitate phosphorus recovery from wastewater.
A food protein plant, which US and UAE investors have invested €16 million to build, will start operating in Liepāja in the next few days. With plans to process around 50,000 tonnes of pea and bean protein a year, the Rural Support Service sees opportunities for Latvian farmers to expand the production of these crops, Latvian Television reported on June 21.
On Wednesday, June 19, the Latvian pharmaceutical company and drug manufacturer Olainfarm AS announced a rebranding to Olpha, the company said in a statement.
Last week, the plywood and veneer producer JSC Latvijas finieris opened a new veneer production plant "Kuldīgas fabrika" in Kuldīga, the company said June 17.
Data compiled by the Central Statistical Bureau of Latvia and published June 13 show that in April 2024 the number of non-resident and resident arrivals at tourist accommodation establishments accounted for 176.2 thousand, which is 4.1 % more than in April 2023.
In 2023, the shadow economy in Latvia decreased by more than three percentage points, breaking the negative trend of the last few years. True, this contraction is to a large extent natural and predicted in advance, Professor Arnis Sauka, director of the Sustainable Business Center at the Stockholm School of Economics in Riga (SSE), told Latvian Radio in an interview June 12.
In the first five months of this year, a total of 4,028 new companies were registered in Latvia, which is 1.1 percent less or 45 companies fewer than in the corresponding period of 2023, according to data compiled by Lursoft, reports Labs of Latvia.
The two largest grocery retailers in Latvia – Rimi and Maxima – both recorded healthy profits last year. At the same time, the national competition authority points out that competition in retail trade is not strong enough in certain neighborhoods of Rīga, reports Latvian Radio June 5.
The second edition of the Baltic Deep Tech Report, was launched at the Latitude59 startup conference in Estonia last week, writes Labs of Latvia.
Latvian fleet management solution provider Mapon said June 3 it has strengthened its market position in Lithuania by acquiring 100% of the shares of the local fleet management solutions company Trackon Fleet Management UAB.
The Latvian Chamber of Commerce and Industry (LTRK) has terminated cooperation with ten companies that continue to export to Russia more than two years after Russia's invasion of Ukraine, reported Latvian Television May 28.
The winners of the Baltic Ecommerce Awards have been announced, and the Grand Prix was been presented to Latvian sports technology company HackMotion.
The Investment and Development Agency of Latvia (LIAA) has announced a design competition for the construction of a joint Baltic (Latvian and Lithuanian) pavilion at the international exhibition Expo 2025 Osaka, which will take place from 13 April to 13 October 2025 in Osaka, Kansai region, Japan.
Four years ago, the entrepreneur Aigars Laužs created a boat-camp-trike "BeTriton", which combined a bicycle, a boat and accommodation, which aroused great interest among the media and the public. The team has spent the last four years perfecting the vehicle and are now ready to start production, seeking investors and involving the public, Latvian Radio reported on May 20.
A French-Latvian Business Forum will be taking place May 22 in Riga, and is expected to gather over 160 people and policymakers from the Transport, Defense, and Renewable Energy sectors.
Gren, a Northern European energy company, plans to invest more than €200 million in Latvia and build a regeneration plant in Acone, Salaspils municipality. The new regeneration plant is expected to be operational in 2029, said the company in a release May 16.
Data of the business tendency surveys carried out by the Central Statistical Bureau (CSB) show that in April 2024 business environment was adjudged to be positive in retail trade and services sector, but negative in the construction and manufacturing sectors.
Latvian comsetics brand Madara announced April 30 that it is selling off its 'Mossa' sub-brand to a Finnish company.
The Riga Electrical Engineering Plant (Rīgas Elektromašīnbūves rūpnīca, RER), which is owned by Russian oligarchs close to Vladimir Putin, has received 1.25 million euros from European funds, reported Latvian Television's De Facto investigative show April 28.
Liepaja Airport will in future produce and test hydrogen-powered Fokker Next Gen aircraft, employing around 800 people. The company has already reached an agreement with the Liepaja Special Economic Zone Authority. The company also plans to set up a hydrogen aircraft engineering center in Latvia, TV Kurzeme reports April 25.
Most important
Most read
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.