Ukrainian business in Latvia has experienced growth in recent years: the number of enterprises has increased against the backdrop of investments totaling 137 million euros, public media reports.
Compared to the pre-war period, business activity in Ukraine has increased two to three times, according to data from "Lursoft". Ukrainians themselves note that despite the war, business continues to develop, and Latvia is being used as a springboard for further expansion into the Baltic countries and Europe.
"Now, in the fourth year of the war, what is difficult is that we do not know what tomorrow will bring. Although, of course, we all hope for the best," said Alexander Petrov, chairman of the board of the Ukrainian Trade House in Latvia.
He expresses great gratitude to Latvia for the support it provides to Ukraine. A few years ago, Ukrainian businesses were not ready for export, as they were focused on the domestic market, since Ukraine is a large country with significant internal consumption. In 2021, a project began to help Ukrainian entrepreneurs enter the European market through Latvia, but the situation changed after Russia's invasion of Ukraine. Currently, several large enterprises have representative offices in Latvia.
"Companies such as 'Wiener Kaffee' operate here. This is a coffee business, a complex business. But coffee is already on the shelves of stores and has its fans. Now we have localized another business - ketchups and mayonnaises, which are supplied to the Baltic market," Petrov said.
Despite the military actions in Ukraine, business has not stopped, and enterprises continue to develop. "Life shows that people live even during the war. Factories are being launched, but they operate without electricity. Just this week, I signed a contract for production in Odessa, where they are starting to produce home footwear. The bombing there is very intense. The factory owner came, we signed a contract that this product will go to the European market through Riga. It turns out that there is no electricity, but business is moving forward," Petrov said.
