Latvian economy continues expanding

Elīza Grīnvalde and Vairis Dmitrijevs attended the Nordic Baltic Business Forum ‘18. The key aspects of the business forum was increasing Latvia’s competitiveness for Nordic investments and vision of the next century - innovation, cooperation and growth.

Some key points of the forum:

  • Investment in IT field in Latvia increased the most in 2016 and 2017;
  • Unemployment rate in Latvia is decreasing continuously;
  • Wage level is increasing significantly;
  • Construction activity has 30% growth in recent years;
  • Despite growing pressure in the labour market, domestic labour pool is not exhausted;
  • Unemployment rate according to education level of unemployed persons - the higher education, the lower unemployment rate.

Latvia is becoming more and more welcoming place not only to invest in, but also to do your business and base your life in.

by Elīza Grīnvalde, Junior Associate / AML specialist (CAMS), Latvia

Related Lawyers

Elīza Grīnvalde

Junior Associate / AML specialist (CAMS)

+371 22 403 488


Vairis Dmitrijevs

Head of M&A

+371 29 258 370


Related Experience

Defended a department store before the Consumer Rights Protection Centre in alleged price display breach for loyal customers.

Helped an energy company to explore ways of overturning the regulators ruling that the transmission system operator was not independent of its shareholders. The main challenge in the case was focusing on the fiduciary duties of the client’s management in managing the company while the shareholders are creating a conflict of interest and compliance risks.

Successfully defending owner of an airport hangar against claim brought by construction company regarding the owner’s refusal to pay for the defective construction works. On 14 January 2019 the district court adopted a judgement in favour of the client, which became effective as of 5 February 2019.

Representing an aviation company in an ongoing litigation regarding the repayment of investments. The company who received the funds later transferred its’ business in several coordinated transactions to a related company, and thereafter became insolvent. The client brought a claim against the recipient of the borrower’s business pursuant to Article 20 of Commercial Law.