The Latvian Investment and Development Agency (LIAA) is a government agency in Latvia dedicated to fostering economic development by attracting foreign investment and promoting Latvian exports. Functioning as a crucial link between international businesses and the Latvian market, LIAA strives to create a favorable business environment conducive to growth and innovation.

Attracting Foreign Investment: LIAA actively markets Latvia as an attractive investment destination. It provides comprehensive information about the Latvian economy, legal framework, and investment opportunities in various sectors, including information technology, green technologies, life sciences, transport and logistics, and manufacturing. The agency offers tailored support to potential investors, guiding them through the investment process, assisting with site selection, facilitating introductions to relevant local partners, and providing assistance with obtaining necessary permits and licenses.

LIAA emphasizes Latvia’s strategic geographic location as a gateway between Western and Eastern Europe, its membership in the European Union and Eurozone, its skilled workforce, and its competitive operating costs. The agency participates in international trade fairs and investment conferences to showcase Latvia’s potential and connect with potential investors. Furthermore, LIAA manages several special economic zones and industrial parks that offer tax incentives and other benefits to encourage investment in specific regions.

Promoting Latvian Exports: Beyond attracting foreign investment, LIAA plays a vital role in supporting Latvian businesses seeking to expand their reach into international markets. The agency provides export consultations, market research, and training programs to help companies develop effective export strategies. It also organizes participation in international trade fairs and business missions, enabling Latvian companies to showcase their products and services to potential international buyers.

LIAA operates a network of representative offices in key markets around the world, providing on-the-ground support to Latvian exporters and facilitating trade connections. These offices act as a valuable resource for companies seeking to understand local market conditions, identify potential partners, and navigate cultural differences. The agency also actively promotes the “Made in Latvia” brand to enhance the recognition and reputation of Latvian products and services internationally.

Innovation and Entrepreneurship: Recognizing the importance of innovation for long-term economic growth, LIAA supports innovation and entrepreneurship in Latvia. The agency manages various programs and initiatives aimed at fostering a vibrant startup ecosystem, supporting research and development, and promoting the commercialization of new technologies. This includes providing funding opportunities, business incubation services, and access to expert mentorship.

LIAA’s activities are aligned with the Latvian government’s overall economic development strategy. The agency works closely with other government institutions, industry associations, and educational institutions to create a cohesive and supportive environment for businesses. By attracting foreign investment, promoting exports, and fostering innovation, LIAA contributes significantly to Latvia’s economic prosperity and global competitiveness.

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