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Latest business news

Latvia: Immigration law amendments
26th May 2014
Latvian parliament adopted amendments to the Immigration Law in Latvia on May 8th, 2014. The amendments will come into force on September 1, 2014. Changes refer to the minimum thresholds of the property that qualifies for temporary residence permit.

Read more news

News: The level of Baltic economy attracts western investments

A Survey shows that companies based on Germany are ready to invest more in Baltic States and create new workplaces.

German companies operating in the Baltic States are more optimistic than a year ago, shows a survey made in 2013 among the members of the German-Baltic Chamber of Commerce in Estonia, Latvia and Lithuania (-Baltic States) in which 104 companies participated.

Considering that economic situation in the Baltic States are becoming more favourable and also the positive outlook for the respondents' own businesses, German companies are once again planning to increase their investments and to create new workplaces in 2013.
In Estonia about a third of the participating companies plan to hire new employees this year. In Lithuania it is even 40 percent and in Latvia 25 percent. Compared to last two years an even greater number of companies in all three Baltic States are now planning to increase their investments.

In the beginning of 2013, the German companies that participated in this survey rated the economic situation in the Baltic States as slightly more favourable than in the previous surveys of 2011 and 2012. In all three countries the participants' expectations for the current year are even more optimistic than they were in the beginning of 2012.

The majority of German companies that operate in Estonia, Latvia and Lithuania find the current economic situation in all three countries to be good, or at least enough satisfactory as they want.

In Estonia, 43 percent of respondents and in Latvia, 53 percent expect their business to develop in the next 12 months. A year earlier, the percentage was at 50 percent. While In Lithuania, more than 67 percent of German companies expect their business situation to further improve – last year this figure amounted to only 40 per cent.

The current confidence and optimism of these western investors shows that the Baltic States have obviously overcome the crisis and is a good place to initiate and conduct business.

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WEB devoloper - Artis Zelmenis