IS LATVIA A GOOD PLACE FOR GREEN INVESTMENT?

Science centre "Vizium"

Unveiling the Latvian Advantage in Green Tech and Manufacturing
​The green tech and manufacturing sectors are experiencing a surge in growth, and savvy business leaders are actively seeking cost-effective solutions. Latvia, a Baltic gem, presents a wealth of advantages, and here's why you should contemplate Ventspils as your next business center and industrial building opportunities.

Attractive Incentives for Physical Space and Special Tax Arrangements
for New Enterprises

The annual lease fee for industrial building in Ventspils ranges from 0.25% to 0.5% of the land's cadastral value. Moreover, should your company require any specialized infrastructure, negotiations with the municipality can lead to tailored installations, providing a distinct cost advantage that permits resource allocation towards other vital aspects of your expanding business.
Equally significant are the direct tax benefits. New companies investing in Ventspils industrial premises, infrastructure and manufacturing may witness up to an 80% reduction in real estate and corporate income taxes. Picture your business establishing a foothold for the Eastern markets in Ventspils—a prime location with efficient logistics and truly competitive tax benefits. Latvia's profit, labor, and other tax rates surpass those of Lithuania, Estonia, Sweden, and Germany by a margin ranging from 4.5% to an astonishing 11%. All this with tailored offers by the business support provided to you privately by the municipality’s business center and the industrial park’s dedicated consultants.
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 Highly Skilled Workforce and Abundant Research Opportunities

Ventspils boasts unique access to a highly skilled workforce of technicians and IT professionals within the city. The local educational institutions offer a wide array of professions, including chemistry, physics, electrotechnics, electronics, mechanical and manufacturing technicians, installers, and operators.

In addition to the technical expertise readily available, Ventspils is also home to the esteemed Ventspils University of Applied Sciences, which equips you with the resources needed to explore and research innovative solutions for your business and manufacturing processes. A testament to the education and skill level is the fact that over 80% of the population holds secondary education, while approximately 25% possess first-stage tertiary or advanced education. 

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 Gateway to Eastern Markets
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Latvia's advantageous geographic location and temperate climate enable year-round freight transport. This strategic position opens doors to untapped business opportunities and an extensive customer base, providing all sides with steep economic growth.
With your base in Latvia, you can seamlessly expand your horizons and reach customers in Eastern Europe.

A Focus on Renewable Energy

Latvia stands as one of the leading European nations in the realm of renewable energy specialization. Its strengths in the green tech sector are underscored by its substantial utilization of renewable energy sources and its top-ranking electricity production. This sustainability focus makes Latvia one of the most fruitful places for green investment in Europe.

Hydropower currently dominates as the primary source of renewable energy in Latvia, accounting for 97% of total production, with the remaining 3% shared between wind and biomass. Biomass and biofuel are increasingly harnessed for co-generating electricity and heat, benefiting from Latvia's rich natural resources and expertise in agriculture and woodworking. And with Ventspils’ photovoltaic power potential reaching 1100 kWh/kWp yearly and wind power density near shore of 1000+W/m2 at 150m, you can find yourself in the ideal position for establishing both of these renewable energy production methods, and harnessing their potential.

 Are you prepared to unlock your business's full potential?

SCHEDULE A CALL WItH US

​Take the initiative by scheduling a consultation with our expert advisors, and let's explore the possibilities together. We specialize in guiding businesses towards making well-informed decisions and strategic investments. Our dedicated team is here to assist you throughout the entire process, from initial planning to successful execution.