DISCOVER LATVIA! · Base metals and articles of base metals 14.0% Machinery and mechanical...

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LIAA - Investment and Development Agency of Latvia DISCOVER LATVIA! Your partner for cooperation November 2013

Transcript of DISCOVER LATVIA! · Base metals and articles of base metals 14.0% Machinery and mechanical...

Page 1: DISCOVER LATVIA! · Base metals and articles of base metals 14.0% Machinery and mechanical appliances; electrical Mineral products equipment 13.7% 9.0% Prepared foodstuffs 8.6% Vegetable

LIAA - Investment and Development Agency of Latvia

DISCOVER LATVIA! Your partner for cooperation

November 2013

Page 2: DISCOVER LATVIA! · Base metals and articles of base metals 14.0% Machinery and mechanical appliances; electrical Mineral products equipment 13.7% 9.0% Prepared foodstuffs 8.6% Vegetable

LIAA - Investment and Development Agency of Latvia

COUNTRY PROFILE

Territory 64.6 ths.sq.km Population 2.07 million Population growth -0.3% Language Latvian Highest point 311.6 m Lowest point Sea level Internet users 57 per 100 Retirement age 62

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LIAA - Investment and Development Agency of Latvia

RIGA – METROPOLIS OF THE BALTICS Riga is the largest city in the Baltic States: 659,418 / 1,03 million (with suburbs)

Stockholm 864,324

Riga 659,418

Oslo 599,230

Copenhagen 593,013

Helsinki 583,350

Vilnius 554,400

Tallinn 409,342 #2 Largest North European city

Page 4: DISCOVER LATVIA! · Base metals and articles of base metals 14.0% Machinery and mechanical appliances; electrical Mineral products equipment 13.7% 9.0% Prepared foodstuffs 8.6% Vegetable

LIAA - Investment and Development Agency of Latvia

15

%

24

%

24

.09%

11% 2

1%

CIT Personal

Income tax

Employee

social tax Employers

social tax VAT

Low tax system

2 million EUR 21.1 billion GDP Population of

FACTS OF LATVIA

Germany

5%

Russia

5%

Sweden

24%

Netherlands

8%

Finland

4%

Estonia

5% Norway

5%

Cumulative FDI – bln EUR (2012)

5.7 7.5

8.1

8.1

8.2 9.4

10.0

FDI Stock by Country 2012

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LIAA - Investment and Development Agency of Latvia

17 Lithuania 2

18 Thailand 1

19 Canada 0

20 Mauritius 3

21 Germany 0

22 Estonia 1

23 United Arab Emirates 3

24 Latvia 4

25 Macedonia, FYR 6

26 Saudi Arabi 0

27 Japan 0

EASE OF DOING BUSINESS 2014 – LATVIA RANKED NO. 24 The International Bank for Reconstruction and Development / The World Bank

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LIAA - Investment and Development Agency of Latvia

THE FASTER GROWING ECONOMY IN THE EU

11,2%

9,6%

-3,3%

-17,7%

-0,3%

5,5% 5,6%

3,7% 4,0%

2006 2007 2008 2009 2010 2011 2012 2013 2014

Forecast

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LIAA - Investment and Development Agency of Latvia

FISCAL STRATEGY TO PREVENT EXCESSIVE

BUDGET DEFICIT General government deficit (% of GDP)

2007 2008 2009 2010 2011 2012* 2013* 2014*

-0.3%

-4.1%

-9.7%

-8.1%

-3.4%

-2.1%

-1.4%-0.6%

Maastricht criteria

€ *target number

Page 8: DISCOVER LATVIA! · Base metals and articles of base metals 14.0% Machinery and mechanical appliances; electrical Mineral products equipment 13.7% 9.0% Prepared foodstuffs 8.6% Vegetable

LIAA - Investment and Development Agency of Latvia

Transportation and storage

17%

Real estate 13%

Professional, scientific and

administrative services

11% Public

administration and defence

10%

ITC 6%

Education 6%

Finance 5%

Health care-4%

Entertainment and recreation 2%

Accommodation and food service 2%

Wholesale and retail 23%

GROSS DOMESTIC PRODUCT By kind of services, 2012 (%)

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LIAA - Investment and Development Agency of Latvia

Chemical industry and related industries

8.1% Production of other non-metallic mineral

products 5.7%

Other industries 4.2%

Production of electrical and optical

equipment 5.5%

Light industry 4.2%

Paper industry and publishing

3,9%

Production of vehicles 3,8%

Production of machinery and

equipment 2.3%

Food industry 22.9%

Wood processing 23.9%

Production of metals and metal articles

15.5%

*provisional data

STRUCTURE OF MANUFACTURING By turnover, 2012(%)*

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LIAA - Investment and Development Agency of Latvia

THE ROLE OF EXPORT IN THE ECONOMY INCREASES

% of GDP

Page 11: DISCOVER LATVIA! · Base metals and articles of base metals 14.0% Machinery and mechanical appliances; electrical Mineral products equipment 13.7% 9.0% Prepared foodstuffs 8.6% Vegetable

LIAA - Investment and Development Agency of Latvia

e – estimation of Ministry of Economics

Wood and articles of wood 15.2%

Base metals and articles of base metals 14.0%

Machinery and mechanical appliances; electrical

equipment 13.7%Mineral products 9.0%

Prepared foodstuffs 8.6%

Vegetable products 7.1%

Products of the chemical and allied

industries 6.3%

Transport vehicles 5.3%

Live animals and animal products

4.4%

Textiles and textile articles 4.0%

Plastics, rubber and articles thereof

3.0%

Other 9.5%

EXPORTS OF GOODS IN 2012

(percentage)

* - provisional data

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LIAA - Investment and Development Agency of Latvia

Machinery and mechanical

appliances; electrical equipment

18.1%

Mineral products18.0%

Base metals and articles of base

metals10.5%

Products of the chemical and allied

industries8.8%

Transport vehicles8.4%

Prepared foodstuffs6.9%

Plastics, rubber and articles thereof 5.2%

Textiles and textile articles 4.2%

Vegetable products 4.1%

Live animals and animal products

3.4%

Other 12.4%

IMPORTS OF GOODS IN 2012

(percentage)

* - provisional data

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LIAA - Investment and Development Agency of Latvia

DIVERSIFIED EXPORT MARKETS

65

4032 30

13

30

3229

915

1515

14 1521 26

0

10

20

30

40

50

60

70

80

90

100

2000 2007 2011 2012

Other countries

CIS

Lithuania, Estonia

EU-15

percentage

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LIAA - Investment and Development Agency of Latvia

TRADE IN GOODS BETWEEN LATVIA AND IRELAND

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LIAA - Investment and Development Agency of Latvia

EQUAL TREATMENT OF FOREIGN INVESTORS

• By law, foreign investors have the same rights and duties as local investors

• The foreign investor may be sole founder and owner of a company

• Foreign companies registered in Latvia are entitled to buy land and property

• Efficient start-up procedure (company registration in 1 day)

• The foreign investor may request a temporary residence permit

• Active dialogue between the Foreign Investors’ Council in Latvia (FICIL)

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LIAA - Investment and Development Agency of Latvia

CONSISTS OF

-Prime Minister (Chairman)

-Minister for Economics

-Minister for Finance

-Minister for Transportation

-Minister for Foreign Affairs

-Minister for Agriculture

-Minister for Education and Science

-Minister for Environment

Protection and Regional

Development

MAIN DIRECTIONS

- Governmental level support for investment projects

- Establishment of support and incentive instruments

- Elimination and prevention of administrative and regulatory barriers

INVESTMENT COORDINATION: HIGH COUNCIL

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LIAA - Investment and Development Agency of Latvia

BUSINESS INCENTIVES IN LATVIA

• Tax Incentives

• Labour-Related Incentives

• Financial Incentives

• Support for Innovations and R&D

• EU Structural Funds

• Temporary Residence Permits

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LIAA - Investment and Development Agency of Latvia

1. WOODWORKING

2. METALWORKING, MACHINERY AND ELECTRONICS

3. TRANSPORT AND LOGISTICS

4. INFORMATION TECHNOLOGY

5. LIFE SCIENCES

6. FOOD PROCESSING

MAIN SECTORS

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LIAA - Investment and Development Agency of Latvia

WOODWORKING

Accesible natural resource Traditions Processing Logistics

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METALWORKING, MACHINERY & ELECTRONICS

• R&D • Competitive and skilful labour force • Wide industry span

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LIAA - Investment and Development Agency of Latvia

TRANSPORTATION & LOGISTICS

• EU border-country • Gateway to East & West • Efficient logistics

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LIAA - Investment and Development Agency of Latvia

INFORMATION TECHNOLOGY

• Competetive labour • Developed infrastructure • International recognition

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LIAA - Investment and Development Agency of Latvia

HIGHLY DEVELOPED COMMUNICATIONS INFRASTRUCTURE

* Source: “State of the Internet” report Q2 2013 by Akamai

www.akamai.com

Average Measured Connection Speed by Country

Country/Region Q1 ’13

Avg. Mbps

QoQ

Change

YoY

Change

- Global 3.3 5.2% 9.2%

1. South Korea 13.3 -6.3% -6.4%

2. Japan 12.0 6.5% 11%

3. Switzerland 11.0 9.1% 31%

4. Hong Kong 10.8 0.8% 21%

5. Latvia 10.6 12% 22% 6. Netherlands 10.1 6.2% 27%

7. Czech Republic 9.8 8.7% 36%

8. United State 8.7 3.4% 22%

9. Sweden 8.4 0.7% 44%

10. United Kingdom 8.4 11% 48%

Country/Region Q1 ’13

Avg. Mbps

QoQ

Change

YoY

Change

- Global 14% 13% 38%

1. South Korea 45% -8.6% -6.5%

2. Japan 43% 5.8% 18%

3. Switzerland 37% 21% 71%

4. Latvia 33% 13% 29%

5. Réunion 33% 35% -

6. Hong Kong 32% -1.9% 23%

7. Netherlands 31% 8.5% 66%

8. Czech Republic 27% 24% 88%

9. Belgium 25% 23% 80%

10. United States 24% 2.3% 43%

Country/Region Q1 ’13

Peak. Mbps

QoQ

Change

YoY

Change

- Global 18.9 0.1% 17%

1. Hong Kong 65.1 -0.9% 32%

2. South Korea 53.3 19% 14%

3. Japan 48.8 3.1% 21%

4. Romania 47.5 -0.6% 23%

5. Singapore 45.6 4.1% 61%

6. Latvia 44.6 5.4% 33%

7. Switzerland 41.4 3.9% 38%

8. Israel 40.1 6.4% 53%

9. Belgium 39.9 8.1% 35%

10. Taiwan 39.5 22% 61%

Average Peak Connection Speed by Country High Broadband (>10 Mbps) Connectivity

Latvia has strong positions in internet speed

rankings. With 10.6 Mbps average connection

speed, 44.6 Mbps peak connection speed and

with 33% from all connections with speed

higher than 10 Mbps Latvia is in top 5 in the

world and 2nd best in Europe.

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LIAA - Investment and Development Agency of Latvia

LIFE SCIENCES

• Regional centre of Baltics • High R&D potential • Skilled labour

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LIAA - Investment and Development Agency of Latvia

FOOD PROCESSING

• Traditions • Quality • Environmentally clean country • Recognition

Page 26: DISCOVER LATVIA! · Base metals and articles of base metals 14.0% Machinery and mechanical appliances; electrical Mineral products equipment 13.7% 9.0% Prepared foodstuffs 8.6% Vegetable

LIAA - Investment and Development Agency of Latvia

LIAA FUNCTIONS - ACTIVITIES

Investment

Agency

Trade

Promotion

Agency

Innovation

Agency

Structural

Funds

Administrator

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Page 28: DISCOVER LATVIA! · Base metals and articles of base metals 14.0% Machinery and mechanical appliances; electrical Mineral products equipment 13.7% 9.0% Prepared foodstuffs 8.6% Vegetable

LIAA - Investment and Development Agency of Latvia

Mode City 2012 7-9, 2012, France

Page 29: DISCOVER LATVIA! · Base metals and articles of base metals 14.0% Machinery and mechanical appliances; electrical Mineral products equipment 13.7% 9.0% Prepared foodstuffs 8.6% Vegetable

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CeBIT 2013 March 5-9, 2013, Hannover, Germany

Nacionālie stendi

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Tirdzniecības misijas

Koksnes kurināmā uzņēmumu kontaktbirža Nīderlandē un Beļģijā 2013.gada 5.-6.jūnijs

Latvijas dienas Maskavā «Оцени Латвию» 2013.gada aprīlis, Maskava

«Оцени Латвию» 4-30 April, 2013, Moscow, Russia

Trade mission / event Latvia’s days in Moscow „Taste Latvia”

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LIAA - Investment and Development Agency of Latvia

Mission to Silicon Valley January 29-February 13, 2013, San Francisco, USA

Trade missions

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LIAA - Investment and Development Agency of Latvia

Largest business forum “LIAA Biznesa forums” December 2012

Business forums

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LIAA - Investment and Development Agency of Latvia

Annual prize for best exporters December 19, 2012

Competitions

Page 34: DISCOVER LATVIA! · Base metals and articles of base metals 14.0% Machinery and mechanical appliances; electrical Mineral products equipment 13.7% 9.0% Prepared foodstuffs 8.6% Vegetable

LIAA - Investment and Development Agency of Latvia

LIAA INTERNATIONAL PRESENCE Representative offices in 14 countries + Latvia

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RIGA – PERFECT PLACE FOR BUSINESS AND LEISURE !

Page 36: DISCOVER LATVIA! · Base metals and articles of base metals 14.0% Machinery and mechanical appliances; electrical Mineral products equipment 13.7% 9.0% Prepared foodstuffs 8.6% Vegetable

LIAA - Investment and Development Agency of Latvia

RIGA – CAPITAL OF CULTURE Historic Centre of Riga is included in the UNESCO World Heritage List

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LIAA - Investment and Development Agency of Latvia

Welcome to Latvia!

Investment and Development Agency of Latvia (LIAA) 2 Perses iela, Riga, Latvia LV-1442 T: +371 67039400 F: +371 67039401 E-mail: [email protected] http://www.liaa.gov.lv http://www.polarisprocess.com