Translated using ChatGPT service.
On Wednesday, June 4, the Ministry of Economics hosted a meeting between Minister of Economics Viktors Valainis and a delegation of entrepreneurs from Baden-Württemberg, Germany.
The aim of the meeting was to introduce German business representatives to Latvia’s business and investment opportunities, as well as to lay the groundwork for future economic cooperation between Latvia and one of the most innovative and economically powerful regions in Europe.
Minister Viktors Valainis presented an overview of Latvia’s economic development trends and priority sectors, highlighting ICT, green energy, and logistics as areas with the greatest potential for cooperation with the southwestern region of Germany.
Although Latvia already maintains strong economic and institutional ties with northern and central regions of Germany (such as Schleswig-Holstein, Bremen, and Mecklenburg-Vorpommern), the cooperation potential with Baden-Württemberg has so far remained largely untapped. This federal state is known for its strong automotive, engineering, IT, and green technology sectors, offering excellent opportunities for joint projects, knowledge transfer, and market expansion.
“Latvia offers a dynamic, digitally advanced environment with access to the EU market, an attractive investment climate, and a growing innovation ecosystem. Closer cooperation with Baden-Württemberg is a crucial step toward building a long-term partnership between our countries in the fields of economy, science, culture, and security. Amid growing geopolitical tensions, Latvia positions itself as a stable and secure investment environment — as a member of the EU, NATO, and the Eurozone,” said Minister of Economics Viktors Valainis.
During the meeting, special attention was given to the potential of digitalization and innovation. The Minister emphasized that Latvia, having achieved a high level of digitalization in public services and the business environment, can serve as a model for Baden-Württemberg, Germany, and Europe as a whole. Latvia also offers strong digital infrastructure, state support mechanisms, and fast-track procedures for implementing investment projects.
Latvia is also actively developing its startup ecosystem, offering accelerators, startup visas, and targeted support for innovation in schools and universities.
The Ministry of Economics confirms its readiness to continue dialogue with entrepreneurs, investors, and public institutions from Baden-Württemberg to jointly promote the sustainable and innovative development of both regions.