Epson will open a European business services center in Riga, Latvia has attracted a billion in investments 0 23

Last year, the largest investment projects were related to bioeconomy, smart energy, the development of high value-added manufacturing, ICT projects, and other sectors. For example, in the energy sector, the construction of a renewable fuel production facility is planned in the Riga Free Port, where the Ukrainian company "Pars Terminal" intends to invest 120 million euros.

One of the largest investment success stories of 2025 was the decision by the Japanese technology company "Epson" to open a European business services center in Riga, with an investment of 6 million euros and the creation of 150 new jobs. Riga was chosen for this project from 28 cities in 18 countries, with key factors being location, stability, Latvia's cost competitiveness, as well as the qualifications of the workforce and language skills.

The business services center in Riga will also be opened by the Canadian digital technology company "Ntangled-State," which plans to create 200 new jobs and invest 25 million euros. A number of projects in the defense sector have also been initiated, including the Estonian company "Frankenburg Technologies" investing 10 million euros in the establishment of a short-range air defense missile production facility.

"In 2026, we also aim to attract at least one billion euros in investments, so we will continue to work with the investment portfolio of the LIAA - currently, it includes about 180 projects, with a total investment potential exceeding 17 billion euros," emphasizes LIAA director Ieva Jāgere. According to the approved strategy, LIAA prioritizes projects in smart specialization in the fields of bioeconomy, smart energy, digital technologies, smart materials and photonics, biomedicine, and the defense industry.