Latvia is definitely developing into a prospective attractive Business and Investment destination. There has been a credible FDI track record to boast of along-with pro-business policy. There is an ever growing list of Options and venues for Immigrants aspiring to shift their establishment and money to this east European country.
Over last decade this Baltic state has witnessed an increasingly fast economic development and progress in various sectors. Authorities have appreciated vital and crucial role played by foreign funds and expertise in advancement of domestic economy.
There are multiple venues at disposal for people willing to invest money and entrepreneurial skills in country. Opportunities include a range of openings in traditional as well as contemporary industrial set-ups.
Most prominent of options this country presents is Information technology.
Today this industry presents itself as a predominant sector of economic emancipation of Latvia. This sector is a major contributor to national GDP to extent of 2%.
This former USSR state today ranks among top 15 leading IT centers around the globe and offers a well trained and educated work force with multi lingual capabilities.
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There is thrust to establish micro organizations which employ less than 10 employees. This presents a valid opportunity for migrants with fair amount of financial credentials.
Authorities are also emphasizing on development of this sector through positive and promotional policies such as implementing IT working procedures in governmental and other public establishments.
Renewable and recyclable energy generation sector
Renewable and recyclable energy generation sector is another major venue with abundance of possibilities and potential.
Today Latvia is rated among the best nations in EU with an increasing potential for green and renewable energy generation’s capacity a well established infrastructure surely makes this sector a profitable area for business.
Latvian health care
Latvian health care is a shrinking sector and in national expenditure ranks among lowest in EU.
In turn, this provides an ample Potential for private players an attractive Option for Migrants.
As far as trained workforce is concerned there is a presence of well educated medical professionals who could facilitate development of medical tourism in this region.
Chemical, machinery, electronics and metal working
Traditional industries like chemical, machinery, electronics and metal working have been primary industrial players contributing actively in enhancing productivity of economy.
Location advantages, past innovations and availability of cheap raw material have been properly manifested into modern avatar of industry with a major shift in priorities.
These venues have been growing up constantly into major attractions for Foreign Investors and Businessmen.
Aided by lowest wages and dedicated and trained labor Latvia’s major industrial sectors like these are appropriate venues that can bring in rich returns.
Transport and logistics
Transport and logistics present diverse Opportunities for Business and Investment.
Latvia offers a well developed rail, road, air and sea based logistics infrastructure, which is amplified by geographical location on the east west and north south corridor of Europe.
by Ajay Sharma, immigration expert