“2025 has been a breakthrough year for the Investment and Development Agency of Latvia (LIAA) – for the first time, foreign direct investment attraction will exceed the one-billion-euro mark. Export indicators, especially in services, are showing renewed growth, and in tourism we are approaching 2019 levels,” LIAA Director Ieva Jāgere emphasised at today’s press conference.
Jāgere further highlighted that this year LIAA has proven that Latvia is capable of competing for – and winning – large international projects. “Investors appreciate our professional approach, transparent processes, and the state’s readiness to cooperate,” she noted, adding that the restructuring carried out over the past year has transformed the agency into an accessible and responsive partner for businesses, able to react quickly to changes in the global economy.
LIAA investment portfolio reaches EUR 17.5 billion
This year, LIAA’s portfolio of investment projects has reached EUR 17.5 billion, covering 184 projects that could create 7,396 new jobs.
In total, 20 new investment projects were launched this year, with combined planned investments of EUR 745 million, excluding the “Ingka Investment” forest acquisition deal worth EUR 720 million, on which LIAA worked for two years. Among other large publicly known projects are Fibenol’s biorefinery development in Valmiera with investments of up to EUR 700 million, and the Rheinmetall ammunition plant with planned investments of EUR 270 million. Combined with other projects, the total investment amount of initiatives launched this year will exceed EUR 1 billion.
Exports: share of high value-added goods and services continues to grow
In the first nine months of 2025, Latvia’s exports grew by 4.4% compared to the same period a year earlier. These results show that the export sector is recovering and expanding. However, it remains crucial to continue transforming the economy by developing technologically advanced products, entering new markets, and reducing dependence on regions and countries experiencing slower economic growth.
This year, LIAA implemented more than 200 export-oriented activities. A total of 167 Latvian companies participated in 17 national stands abroad, demonstrating clear growth trends. For example, Tukuma Piens has tripled its exports to the Netherlands; Rīgas Piena Kombināts has started exports to South Korea and secured placement in 800 Kaufland stores in Germany; meanwhile, Pharmidea has expanded into South American and Australian markets.
A significant contribution to export promotion and investment attraction this year also came from Latvia’s participation in the Expo 2025 Osaka world exhibition, where the Baltic Pavilion welcomed 900,000 visitors. During the exhibition period, 75 cultural and business events were organised, 200 Latvian companies were showcased, and 34 cooperation agreements were signed.
International recognition for Latvia
The press conference also featured insights from Craig Turp-Balazs, Head of Analytics and Research at the think tank Reinvantage. The organisation’s latest study, The Investment Promotion Playbook 2025, ranked LIAA as the best investment promotion agency in Central and Eastern Europe, outperforming Estonia, Lithuania, and 29 other countries.
The research highlights that Latvia’s success is driven by an open, customer-centric approach, strong digital competencies, and well-designed state support for investors.
“Latvia is a good example of how to build a trustworthy investment environment. Our analysis shows that investors seek not only lower costs but also reliable partners, strong digital solutions, and professional support – and LIAA is able to provide this to ensure long-term cooperation,” Turp-Balazs emphasised.
