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  • August 3, 2025
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EconomicDevelopment

Hopes for improvements in Latvia’s investment environment

The Foreign Investors Council in Latvia (FICIL) has told the LETA news agency that Latvia’s investment environment is better this year than it was last year. The statement was made [..]

Vilnius receives top honors for investment strategy

Vilnius has received the award for Best Foreign Direct Investment Strategy in fDi’s Mid-Sized European Cities of the Future 2025 ranking. The city also ranked 4th in Economic Potential, 2nd [..]

Commerce agency: Latvia’s business environment failed to achieve much growth last year

Latvia’s business environment in 2024 was much like its GDP dynamic – there were changes, but no significant growth. This was reported to LETA by Janis Lielpeteris, a board member [..]

Latvian investment chief: Country’s strength is in her people

People are definitely Latvia’s strong suit when it comes to attracting investments, the director of Latvia’s Investment and Development Agency (LIAA), Ieva Jagere, has told the LETA news agency in [..]

Lithuanian government to sign agreements with industrial giant

The Lithuanian government plans to sign two agreements with the Rheinmetall company on Friday, one related to the leasing of land for a factory which the German defence industry giant [..]

US poultry export way opens up for Lithuania, but process will be long

Lithuania can now apply for permission to export heat-treated poultry products to the US, Lithuania’s State Food and Veterinary Service said on Friday, adding, however, that the process may take [..]

Tax reform will respond to economic development challenges – Silina

The tax reform proposed by the government will most likely respond to the challenges of the economic development, Prime Minister Evika Silina (New Unity) said in an interview with the [..]

Latvia’s Virsi opens 1st fuel station in Lithuania

Virsi-A, a Latvian energy trading company, has opened its first fuel station in Lithuania. It is located on the A5 motorway near the southern city of Marijampole, the company said [..]

Bank of Taiwan seeks to establish representative office in Lithuania

The Bank of Taiwan, the largest Taiwanese bank, wants to set up a representative office in Lithuania as it sees an opportunity to expand its business in Central and Eastern [..]

Affordable High-Speed Internet is Spurring Economic Growth and Boosting Small Businesses

Heather Boushey, Chief Economist, Investing in America Cabinet Access to affordable, reliable, high-speed internet is a cornerstone of the American economy and essential for economic growth. This is also a [..]

First phase of Rail Baltica project will cost EUR 15.3 billion in Baltics

The cost of the first stage of the international Rail Baltica project in the Baltics could reach EUR 15.3 billion, of which EUR 6.4 billion in Latvia, while the total [..]

Rheinmetall to invest over EUR 180 mln into production facility in Lithuania

German military industry giant Rheinmetall will invest more than 180 million euros into an ammunition production facility in Lithuania, which is expected to create at least 150 jobs, under an [..]

Cornerstone to be laid for building of Rail Baltic Ulemiste terminal in Tallinn

On Wednesday, the cornerstone will be laid for the building of the terminal of the Rail Baltic in the Ulemiste area of Tallinn. On this occasion, Magda Kopczynska, director general [..]

Ryanair opens its 2nd EUR 20 mln MRO hangar at Kaunas airport

Ireland’s budget airline Ryanair on Tuesday inaugurated its second aircraft maintenance, repair and overhaul (MRO) hangar at Lithuania’s Kaunas Airport, with the investment totaling 20 million euros. The expansion of [..]

Estonian govt approves bill seeking to increase land tax

The Estonian government has approved and sent to the parliament a bill seeking to amend the Land Tax Act and increase local governments’ decision-making power in setting land tax rates. [..]

Kati Kusmin: we must develop our products and export them worldwide

Ain Alvela, Editor of TööstusEST, interview with Kati Kusmin, Chairman of the Management Board of The Estonian Business and Innovation Agency (EIS). Kati Kusmin, which was recently created with the [..]

OECD recommends Latvia to improve fiscal policy, tax system and public sector capacity

Latvia needs to improve fiscal policy, reform the tax system, improve public sector capacity and attract investment to boost growth, the Organization for Economic Co-operation and Development (OECD) has concluded [..]

KIK to support industrial cos’ resource efficiency investments

Starting April 23, industrial enterprises in Estonia can begin submitting applications to request support for investments aimed at increasing their resource and energy efficiency and reducing the use of natural [..]

Lithuanian economy minister to meet Apple, Amazon reps

Economy and Innovation Minister Ausrine Armonaite is meeting with representatives from global technology giants Apple and Amazon Web Services (AWS) on Wednesday to present Lithuania’s investment environment and conditions for [..]

From economic point of view, Latvia has taken advantage of EU opportunities – Dombrovskis

From the economic point of view, Latvia has benefited from the opportunities offered by the European Union (EU) over the years, and despite the crises, we have come much closer [..]

Ventspils port should become export port for renewable energy and local products – Udodovs

The Ventspils port should turn from the fossil energy transit port it was once into a renewable energy and local products export port, Deputy Governor of Ventspils Freeport Igor Udodov [..]

IDA Hub in East-Viru County to target international film productions

IDA Hub, the film and multimedia innovation center in East-Viru County, northeastern Estonia, is to start working with content so that it can be ready to serve international film productions [..]

Handlers of manganese ore include company of Slesers’ and Skele’s families – TV

Among the stevedores engaged in the transshipment of manganese ore used in the Russian military industry there are also those whose owners have links to the families of former prime [..]

AirBaltic offers shares to Lithuanian, Estonian govts

Latvia’s national airline airBaltic has offered the Lithuanian and Estonian governments to buy its shares, the Estonian Postimees news website reports. Martin Gauss, the company’s board chairman, told the website [..]

Estonia announces preliminary round for European Enterprise Promotion Awards competition

The Estonian Ministry of Economic Affairs and Communications has announced a competition for recognizing promoters of entrepreneurship, which also serves as the Estonian preliminary round for the European Enterprise Awards [..]

New Ambassador to Italy committed to developing economic cooperation in smart specialization sectors

The new Latvian Ambassador to Italy Elita Gavele is committed to developing economic cooperation between the two countries in smart specialization sectors. As the ambassador told LETA, this will also [..]

Estonia announces EUR 2.2 mln tender for tourism promotion in UK, US, Sweden, Norway and other countries

The Estonian Business and Innovation Agency has announced a public procurement for the promotion of Estonian tourism and tourism business marketing for 2024-2026; the estimated cost of the procurement is [..]

Ventspils to develop new industrial park for EUR 17 million

Ventspils City Council at an extraordinary meeting on Tuesday approved Ventspils Osta municipal institution’s plan to conclude an agreement with the Central Finance and Contracting Agency (CFCA). The project aims [..]

New passenger car market in Latvia grows 10.6% in 2023; most popular – Toyota, Skoda and VW

In 2023, Latvian new passenger car registration rose 10.6 percent against 2022, with 21,146 new vehicles registered, the Latvian Auto Association informed. Registration of new light passenger cars rose 10.4 [..]

More than 7,000 Ukrainian families receive housing loans

More than 7,000 Ukrainian families have received housing loans under the eOselia (eHousing) programme totalling UAH 10.7 billion since the programme’s launch. 62% of them are contract service members and [..]

Minister invites US defense giant Lockheed Martin to invest in Lithuania

Foreign Minister Gabrielius Landsbergis invited Lockheed Martin to invest in Lithuania as he met with the US military industry giant’s top executives in Davos on Thursday. “We offer the best [..]

Dubai Chamber of Commerce office could be established in Vilnius – minister

An office of the Dubai Chamber of Commerce could be established in Vilnius, Lithuanian Foreign Minister Gabrielius Landsbergis said at a meeting with Abdullah Bin Touq, minister of economy of [..]

Economy minister, Swiss defense start-up to discuss drone production in Lithuania

Lithuanian Economy and Innovation Minister Ausrine Armonaite on Thursday is presenting the government’s plans to beef up the country’s defense industry to the Swiss defense industry startup Unmanned Defense Systems [..]

Minimum monthly wage in Latvia increases to EUR 700

The minimum monthly wage in Latvia increases from EUR 620 to EUR 700 as of the 1st of January, according to amendments to Cabinet regulations that came into force on [..]

Latvian household income rose by 9.1% in 2022 – reached EUR 740 per household member monthly

In 2022, compared to 2021, household disposable income increased by EUR 62 or 9.1 percent and reached EUR 740 per household member monthly, according to results from a survey conducted [..]

Lithuanian parliament adopted the 2024 state budget – planned revenue 16.98 billion and expenditure 20.6 billion

The Lithuanian parliament on Tuesday adopted the 2024 state budget after more than three hours of deliberations as 73 MPs voted in favor, 52 voted against it and one lawmaker [..]

Lithuanian govt proposes allocating extra EUR 157 mln for roads next year

The Lithuanian government has tentatively agreed to allocate an extra 157 million euros for roads next year as some politicians, road workers and the presidential office propose suggest allocating more [..]

Saeima endorses single tax rate of 25% for all micro-enterprises

The Saeima on Thursday endorsed draft amendments to the Micro-enterprise Tax Law setting a single 25 percent tax rate for all micro-enterprises. The government adopted the draft amendments as part [..]

There is enough money to continue work started on Rail Baltica – EDzL

There is enough money to continue the works started in the Rail Baltica railway project, and the works in the vicinity of Iecava will start this year, Kaspars Vingris, Chairman [..]

Finance minister feels foreign banks’ interest in Lithuania

Lithuanian Finance Minister Gintare Skaiste says she feels the interest of foreign banks in the Lithuanian market, adding, however, the emergence of a new bank in the country may take [..]

1 billion for the Lithuanian economy. Ministry of the Economy and Innovation invites to implement digital solutions in the public sector

The Ministry of the Economy and Innovation announces a second call for the digitalisation of public sector services, worth around €19 million. The first call already selected 55 projects from [..]

LIAA opens an Innovation and Technology Representative Office in Switzerland

The Latvian Investment and Development Agency (LIAA) has opened a representative office in Geneva, Switzerland, whose task will be to provide a link between Latvian entrepreneurs involved in the European [..]

EURO

Trending

A Lux Express bus traveling from Tallinn to Pärnu was involved in a serious traffic accident on Monday (July 28), injuring approximately 30 people. (Photo: Priit Mürk/ERR)

29 people injured in Lux Express bus crash

Picture: Pixabay.com (illustrative image)

Scammers have defrauded residents of Latvia of nearly €10 million this year, police say

Source: vrm.lrv.lt (illustrative picture)

Lithuanian border guards did not detect the drone’s entry from Belarus – chief

Source: wikipedia.org

Lithuanian prime minister Gintautas Paluckas resigns

High-rises in Tallinn. Source: Siim Lõvi /ERR

Estonia’s banks following LHV’s claim before taking action

Panorama in the Bernese Alps: Switzerland is an attractive emigration destination for some Germans. Photo: Jan Woitas/dpa Credit: Jan Woitas/dpa

Germans prefer Switzerland when they daydream about emigrating

Source: wikipedia.org (illustrative picture)

Wizz Air will launch direct flights from Vilnius to Krakow

Security area at Tallinn Airport. Source: Priit Mürk/ERR

Europe does away with 100 ml liquids limit on flights

Publicity picture

AI for fleets: what Gurtam’s Telematics and Connected Mobility conference reveals about the future of business

Publicity picture

Iute received a license for offering payment services in Macedonia

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