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Latvian Investment and Development Agency

Latvian Investment and Development Agency

In order to promote business development by facilitating the growth of foreign investments and increasing the competitiveness of Latvian entrepreneurs in domestic and foreign markets, operates a government agency “Latvian Investment and Development Agency” (LIDA), reporting to the Ministry of Economics.

Having more than 10 years of experience in attraction of foreign direct investment to Latvia and promotion of foreign trade, today LIDA offers and integrated solution – supports both companies in Latvia trading internationally, and overseas enterprises seeking business partners or location in Latvia, and introduces and manages the state support programmes for entrepreneurs, cofinanced from EU Structural funds.

LIDA also is involved in implementation of national programs on export and innovation promotion, takes part in projects of EU 5th Framework Programmes, participates in facilitation of Public Private Partnerships and implementation of the state functions in energy sector.

Working in close cooperation with business community (particularly with Foreign Investors Council in Latvia (FICIL), National Economy Council and associations) LIDA facilitates steady improvement of business environment, especially in administrative procedures. In total 95 out of 106 recommendations of FICIL has been implemented between 1999 and 2004, and today Latvia ranks among the top ten countries worldwide in terms of business start-up time with registration of business in 11 days.

Read more: Latvian Investment and Development Agency

Related documents: Bank of Latvia, Cabinet of Ministers of Latvia, Central Statistic Bureau of Latvia, Financial and Capital Market Commission, Latvian Investment and Development Agency, Office of Citizenship and Migration Affairs, Parlament of Latvia, President of Latvia, State Audit Office Republic of Latvia

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    Sandis Viksna
    The Daily Latvia . COM
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