DISCOVER LATVIA! Your partner for cooperation November 2013

Transcription

1 DISCOVER LATVIA! Your partner for cooperation November 2013

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

3 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 #2 Vilnius 554,400 Tallinn 409,342 Largest North European city

4 15% 11% % 24.09% 21% FACTS OF LATVIA Sweden 24% Netherlands 8% Estonia 5% Norway 5% CIT Personal Income tax Employers social tax Employee social tax VAT Germany 5% Russia 5% Finland 4% Low tax system FDI Stock by Country 2012 Cumulative FDI bln EUR (2012) Population of GDP 2 million EUR 21.1 billion

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

6 THE FASTER GROWING ECONOMY IN THE EU 11,2% 9,6% 5,5% 5,6% 3,7% 4,0% ,3% -3,3% Forecast -17,7%

7 FISCAL STRATEGY TO PREVENT EXCESSIVE BUDGET DEFICIT General government deficit (% of GDP) * 2013* 2014* -0.6% -0.3% -1.4% -4.1% -3.4% -2.1% Maastricht criteria -8.1% -9.7% *target number

8 GROSS DOMESTIC PRODUCT By kind of services, 2012 (%) Wholesale and retail 23% Transportation and storage 17% Accommodation and food service 2% Entertainment and recreation 2% Real estate 13% Health care-4% Finance 5% Education 6% ITC 6% Professional, scientific and administrative services Public 11% administration and defence 10%

9 STRUCTURE OF MANUFACTURING By turnover, 2012(%)* Production of metals and metal articles 15.5% 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% Wood processing 23.9% *provisional data Food industry 22.9% Light industry 4.2% Paper industry and publishing 3,9% Production of vehicles 3,8% Production of machinery and equipment 2.3%

10 THE ROLE OF EXPORT IN THE ECONOMY INCREASES % of GDP

11 EXPORTS OF GOODS IN 2012 (percentage) Textiles and textile articles 4.0% Live animals and animal products 4.4% Transport vehicles 5.3% Products of the chemical and allied industries 6.3% Plastics, rubber and articles thereof 3.0% Other 9.5% Wood and articles of wood 15.2% Base metals and articles of base metals 14.0% Vegetable products 7.1% e estimation of Ministry of Economics * - provisional data Prepared foodstuffs 8.6% Mineral products 9.0% Machinery and mechanical appliances; electrical equipment 13.7%

12 IMPORTS OF GOODS IN 2012 (percentage) Live animals and animal products 3.4% Vegetable products 4.1% Textiles and textile articles 4.2% Other 12.4% Machinery and mechanical appliances; electrical equipment 18.1% Plastics, rubber and articles thereof 5.2% Mineral products 18.0% Prepared foodstuffs 6.9% Transport vehicles 8.4% Products of the chemical and allied industries 8.8% Base metals and articles of base metals 10.5% * - provisional data

13 DIVERSIFIED EXPORT MARKETS percentage Other countries CIS Lithuania, Estonia EU-15

14 TRADE IN GOODS BETWEEN LATVIA AND IRELAND

15 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)

16 INVESTMENT COORDINATION: HIGH COUNCIL 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

17 BUSINESS INCENTIVES IN LATVIA Tax Incentives Labour-Related Incentives Financial Incentives Support for Innovations and R&D EU Structural Funds Temporary Residence Permits

18 MAIN SECTORS 1. WOODWORKING 2. METALWORKING, MACHINERY AND ELECTRONICS 3. TRANSPORT AND LOGISTICS 4. INFORMATION TECHNOLOGY 5. LIFE SCIENCES 6. FOOD PROCESSING

19 WOODWORKING Accesible natural resource Traditions Processing Logistics

20 METALWORKING, MACHINERY & ELECTRONICS R&D Wide industry span Competitive and skilful labour force

21 TRANSPORTATION & LOGISTICS EU border-country Gateway to East & West Efficient logistics

22 INFORMATION TECHNOLOGY Developed infrastructure Competetive labour International recognition

23 HIGHLY DEVELOPED COMMUNICATIONS INFRASTRUCTURE 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. * Source: State of the Internet report Q by Akamai Country/Region Q1 13 Avg. Mbps QoQ Change YoY Change - Global % 9.2% 1. South Korea % -6.4% 2. Japan % 11% 3. Switzerland % 31% 4. Hong Kong % 21% 5. Latvia % 22% 6. Netherlands % 27% 7. Czech Republic % 36% 8. United State % 22% 9. Sweden % 44% 10. United Kingdom % 48% Average Measured Connection Speed by Country Country/Region Q1 13 Peak. Mbps QoQ Change YoY Change - Global % 17% 1. Hong Kong % 32% 2. South Korea % 14% 3. Japan % 21% 4. Romania % 23% 5. Singapore % 61% 6. Latvia % 33% 7. Switzerland % 38% 8. Israel % 53% 9. Belgium % 35% 10. Taiwan % 61% Average Peak Connection Speed by Country 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% High Broadband (>10 Mbps) Connectivity

24 LIFE SCIENCES Regional centre of Baltics High R&D potential Skilled labour

25 FOOD PROCESSING Environmentally clean country Quality Recognition Traditions

26 LIAA FUNCTIONS - ACTIVITIES Investment Agency Structural Funds Administrator Trade Promotion Agency Innovation Agency

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28 Mode City , 2012, France

29 Nacionālie stendi CeBIT 2013 March 5-9, 2013, Hannover, Germany

30 Tirdzniecības Trade mission misijas / event Latvia s days in Moscow Taste Latvia Latvijas dienas Maskavā «Оцени Латвию» 2013.gada aprīlis, Maskava «Оцени Латвию» 4-30 Koksnes April, kurināmā 2013, Moscow, uzņēmumu Russia kontaktbirža Nīderlandē un Beļģijā 2013.gada 5.-6.jūnijs

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

32 Business forums Largest business forum LIAA Biznesa forums December 2012

33 Competitions Annual prize for best exporters December 19, 2012

34 LIAA INTERNATIONAL PRESENCE Representative offices in 14 countries + Latvia

35 RIGA PERFECT PLACE FOR BUSINESS AND LEISURE!

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

37 Welcome to Latvia! Investment and Development Agency of Latvia (LIAA) 2 Perses iela, Riga, Latvia LV-1442 T: F: liaa@liaa.gov.lv