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, Latvia

Related Lawyers

Elīza Grīnvalde

Junior Associate

+371 22 403 488

eliza.grinvalde@vilgerts.comEmail

Vairis Dmitrijevs

Head of M&A

+371 29 258 370

vairis.dmitrijevs@vilgerts.comEmail

Related Experience

Successfully defending previous management board member in a litigation against one of the largest Latvian transport building factories. The claim for recovery of losses was brought due to company’s tax debt penalty EUR 0.13 Mio that was imposed for the period while the client held a position in company’s management board.

Providing legal assistance to Estonian company with enforcement of Estonian court’s decision of EUR 1.2 Mio debt recovery. On 7 June 2018 the district court satisfied client’s request and adopted a decision to enforce the Estonian court’s decision in Latvia.

Providing legal assistance to a real estate investment fund in an ongoing litigation against one of the subcontractors for violations in design and construction process which afterwards caused partial collapse of shopping mall’s ceiling. The amount of claim EUR 8.5 Mio.

Representing one of the largest Latvian construction companies in an ongoing litigation against Airport of Riga regarding the failure to pay for construction works. The amount of claim is EUR 0.5 Mio.

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