Analytics, Investments, Latvia

International Internet Magazine. Baltic States news & analytics Saturday, 30.05.2020, 15:41

Number of new foreign investments projects in Latvia drops significantly – study

BC, Riga, 12.06.2019.Print version
Last year 34 new foreign investments projects should be started in Latvia compared to 53 new investments projects started in 2017, according to a study conducted by EY audit company referred LETA/BNS.

Also, the number of jobs created by new foreign investment projects dropped by 40 percent – from 2,690 new jobs in 2017 to 1,078 new jobs last year.

According to EY, among the Baltic states, most of the investment projects were held in Lithuania – 83 or by nine more than in 2017, and 28 were started in Estonia last year or by ten fewer than in 2017. Last year 5,023 new jobs were created in Lithuania, and 949 in Estonia.

EY partner Guntars Kols said that the drop of the number of foreign investment projects in Latvia does not point at significant long-term consequences, but it is a warning signal.

“Our neighbors Lithuanians last year achieved a significant rise in new investment projects, getting into the list of 20 European countries with the highest number of new foreign investment projects,” said Krols.

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