Latvia: LIAA attracted EUR 263mn of foreign investments in H1/2024

The Investment and Development Agency of Latvia (LIAA) attracted 28 foreign investment projects in the first half of 2024, LSM reported. The projects will bring investments of EUR 263mn and create 1,245 new jobs. Altogether 13 of the projects are in Riga, 9 in Kurzeme, 3 in Latgale, 2 in Vidzeme, and 1 in Zemgale. Laura Strovalde, deputy director for investment at LIAA, noted that Latvia could no longer compete with cheap labour but was more competitive in skilled labour. LIAA aims to attract investments of EUR 660mn in 2024 and EUR 1bn over the next three years. There are another 200 investment projects totalling EUR 10.5bn in various stages of readiness. Strovalde expects at least 20% of the projects to be implemented.