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Economy of Latvia and business opportunities

Economy of Latvia

The economy of Latvia is an open economy in Northern Europe and is part of the European Union's (EU) single market. Latvia is a member of the World Trade Organization (WTO) since 1999, a member of the European Union since 2004, and of the Euro zone since 2014. Latvia is ranked the 21st in the world by the Ease of Doing Business Index prepared by the World Bank Group. According to the Human Development Report 2011, Latvia belongs to the group of very high human development countries. Due to its geographical location, transit services are highly developed, along with timber and wood-processing, agriculture and food products, and manufacturing of machinery and electronic devices.

Latvia's economy has had rapid GDP growth of more than 10% per year during 2006-07, but entered a severe recession in 2009 as a result of an unsustainable current account deficit, collapse of the real estate market, and large debt exposure amid the softening world economy. In 2011 Latvia achieved GDP growth by 5.5% and thus Latvia again was among the fastest growing economies in the European Union. The IMF/EU program successfully concluded in December 2011.

Privatization is mostly complete, except for some of the large state-owned utilities. Export growth contributed to the economic recovery, however the bulk of the country's economic activity is in the services sector. In May 2013, the OECD decided to open accession negotiations with Latvia.

Privatisation

Privatisation in Latvia is almost complete. Virtually all of the previously state-owned small and medium companies have been privatized, leaving only a small number of politically sensitive large state companies. In particular, the country's main energy company, Latvenergo remains state-owned and there are no plans to privatize it. The government also holds minority shares inVentspils Nafta oil transit company and the country's main telecom company Lattelecom but it plans to sell those.

Energy

With Lithuania, Poland, and Estonia, Latvia is considering participating in the Visaginas Nuclear Power Plant in Lithuania to replace the Ignalina Nuclear Power Plant.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Latvia"

Global Tenders has one of the largest database of international and national tenders/competitive bids, procurement news, project information, contract awards, related to Latvia from all over the world..

This section contains economy and business opportunities and from Latvia.
Latvia Economy Latvian Economy, business opportunities in Latvia.
Summary:
Sound Console, 16-Channel Ad/Da Audio Converters, Microphones And Sound Cards, Delivery And Maintenance Of Their Accessories During The Warranty Period
Country:
Latvia
 
Notice Type:
Tender Notice
Deadline:
08 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Delivery And Installation Of Operating Room Equipment
Country:
Latvia
 
Notice Type:
Tender Notice
Deadline:
03 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Delivery, Planting And Maintenance Of Annual Flower Seedlings
Country:
Latvia
 
Notice Type:
Tender Notice
Deadline:
07 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
About The Provision Of Business Trip Services
Country:
Latvia
 
Notice Type:
Tender Notice
Deadline:
07 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Conducting Audits On The Preparation And Progress Of The Procurement Of Suburban Passenger Electric Trains
Country:
Latvia
 
Notice Type:
Tender Notice
Deadline:
10 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Servicing And Maintenance Works Of The Venta Bridge, Lifting Mechanisms, Automation, Communication Systems And Bridge Lighting In Ventspils
Country:
Latvia
 
Notice Type:
Tender Notice
Deadline:
08 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Irregular Transport Services For The Needs Of Institutions Located In The Territories Of Burtnieki And Mazsalac Associations Of Valmiera County
Country:
Latvia
 
Notice Type:
Tender Notice
Deadline:
20 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Construction Supervision In The Reconstruction Phase Of Miera Street From The Bridge Over Platone River To Graudu Street, Jelgava
Country:
Latvia
 
Notice Type:
Tender Notice
Deadline:
20 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Obtaining The Services Of An Engineering Consultant
Country:
Latvia
 
Notice Type:
Tender Notice
Deadline:
07 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Delivery Of Household Waste Containers
Country:
Latvia
 
Notice Type:
Tender Notice
Deadline:
28 May 2024
Posting Date:
18 Apr 2024
 
 
 

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