Latvia is a gateway to major markets, which includes 100 million consumers within a radius of 800 kilometers and an easy access to major markets in the European Union.

The EU membership has given Latvia greater opportunities for reconstruction and modernization of the national economy, development of knowledge and technologies and also improving the business environment.

The main sources of foreign direct investment in Latvia have been and remain the neighboring countries in the Baltic region, which has been active in Latvia since the early 1990s.

At present, investment from Sweden, Germany, Denmark, Finland, Norway and Estonia counts for about 50 percent of total foreign direct investment covering a wide range of fields such as finance, telecommunications and trade.

The leading growth industries in Latvia are the chemical and pharmaceutical industry, metal production and metal- and tree processing. Other leading sectors that provide services are also banks, IT and technology and logistics.

Here are areas where there are business opportunities:

• Timber and wood process: Latvia has one of the best forest resources in Europe, covering 44 percent of the country.

• Transport infrastructure: the development of airports, transit through the ports and other connections, the modernization of the railway system and the development of the state roads.
  

• Environment: Equipment and technology, waste management and energy from waste

• Energy: New power plants, renovation of electricity, cogeneration, renewable energy, trade in CO2 emission and energy efficient projects

Future growth and potential are in the Tourism and Recreation fields and also within Education.

                                                                                    Cecilia Helland