Investment and Development Agency of Latvia

The Investment and Development Agency of Latvia (LIAA; Latvian: Latvijas Investīciju un attīstības aģentūra) is a government agency responsible for promoting business development in Latvia by facilitating the growth of foreign investment and increasing the competitiveness of Latvian entrepreneurs in domestic and foreign markets. LIAA also administers EU Structural Funds for promoting business and encouraging the formation of new enterprises. The agency is overseen by the Ministry of Economics of the Republic of Latvia.

History

LIAA was established on September 7, 1993, by the Ministry of Economics of the Republic of Latvia. The agency was originally known as the Latvian Development Agency, but was reorganized into the Investment and Development Agency of Latvia (Latvijas investīciju un attīstības aģentūra, in Latvian) in 2004. Over the last two decades the number of employees at LIAA has grown from 10 to more than 200.

Aims

In order to attract foreign direct investment to Latvia and promote foreign trade, LIAA supports companies in Latvia trading internationally as well as overseas enterprises seeking business partners or locations in Latvia. To meet both these objectives, LIAA administers the State Support Programmes for Entrepreneurs, co-financed from EU Structural Funds.