The number of multinational corporations in the Baltic States was highest in Estonia in 2024, according to Eurostat data, LSM reports. Estonia had 1,199 multinationals in 2024, which was down slightly from 1,220 in 2023. Meanwhile, Lithuania had 984 (1,035) and Latvia 746 (718) multinational enterprises. In 2018, Estonia had as many as 1,529 multinationals,…
Two freight trains derailed in Lithuania within 48 hours on 1 and 2 May 2026, prompting fears of possible Russian sabotage, LRT reported. However, Prime Minister Inga Ruginiene said that the accidents were caused by technical failure or human error, BNS reported. A spokesman for state-owned railway group Lietuvos Gelezinkeliai (LTG) said that the derailment…
Latvia’s Office of Citizenship and Migration Affairs (PMLP) issued 19,900 temporary residence permits to non-EU nationals who invested in the Latvian economy in the period from 1 July 2010 to the end of 2024, LETA reported. According to the Ministry of Economy, the so-called golden visa programme was “an important instrument” for attracting foreign capital…
Lithuania’s Klaipeda State Seaport opened the new cruise season on 2 May 2026, The Baltic Times reported. CEO Algis Latakas said that the port expected altogether 64 cruise ships with around 90,000 tourists to visit Klaipeda in 2026, which would be an all-time record in the port’s history. In 2027, the port may receive more…
The Latvian government will have to decide on additional capital needed for the country’s national air carrier, airBaltic, in 2026, Finance Minister Arvils Aseradens stated, LETA reports. He stressed that the airline’s future operations required capital investment. However, the government would have to seek additional sources of funding for such an investment, the minister explained….
Latvia’s Competition Council concluded seven high-priority cases on violations of and non-compliance with competition law in 2025, LSM reports. Total fines issued in the cases amounted to EUR 2.5mn, according to the council’s annual report. The public benefit increased by around 25% over a year, the Competition Council estimated. The biggest sanctions included a EUR…
Estonia and Finland have postponed a decision on the construction of a third undersea electricity cable between the two countries until 2031, ERR reports. Kalle Kilk, CEO of Estonia’s state-owned transmission system operator, Elering, said that the timetable for the EstLink 3 project was pushed back at Finland’s request. Instead of the previously planned completion date of…
The Lithuanian government is considering the possibility of allowing the construction of small modular nuclear reactors (SMR) in the country, LRT reports. Energy Minister Zygimantas Vaiciunas said that the government would identify two or three SMR technologies in 2026 for further evaluation in terms of technical and economic feasibility. The minister stressed Lithuania’s need to…
Latvia’s Riga Fertilizer Terminal (RFT) has again asked the country’s Financial Intelligence Unit (FID) for a waver on EU sanctions in order to resume operations, LSM reports. RFT pledged to isolate the company’s majority owner, sanctioned Russian oligarch Dmitry Mazepin, from the company’s management and profits. However, Latvia’s State Security Service (VDD) pointed out that…