At the Cabinet of Ministers (CM) meeting on 11 November, regulations and amendments drafted by the Ministry of Economics (MoE) were approved, providing for the continuation of the large-scale investment projects programme and the launch of the fourth and subsequent selection rounds with total funding of EUR 67.04 million.
At the meeting, the Cabinet approved the regulations on loans with capital rebates for the support of large investment projects, as well as amendments to the Cabinet of Ministers Regulation No. 503 of 6 July 2021, “Regulations on Loans with Capital Rebates for Exporting Merchants for the Support of Large Investment Projects”.
The Investment Fund is one of the most important state instruments for promoting competitiveness and productivity. These changes ensure continued support for companies implementing ambitious development projects, creating new jobs and investing in innovation. It is particularly important that, going forward, priority will be given to investments in the development of the defence and military sectors, thereby strengthening Latvia’s economic and security resilience.
“The Investment Fund is one of the state instruments that promotes the competitiveness, productivity and ability of our companies to create high value-added products. With the new regulations, we continue to provide support to companies implementing ambitious development projects, creating new jobs and investing in innovation. In this round, priority will be given to investments in the development of the defence and military sectors. The results achieved so far clearly demonstrate the programme’s effectiveness and its significant contribution to Latvia’s economic growth. Through the capital rebate mechanism, this programme helps companies implement large, strategic projects that generate long-term benefits for national development,” emphasised Minister of Economics Viktors Valainis.
Under the amendments to Cabinet Regulation No. 503 of 6 July 2021, within which the first, closed and third selection rounds were carried out, funding in the amount of EUR 57.54 million is being reallocated to the regulations on loans with capital rebates for the implementation of the fourth and subsequent selection rounds of large investment project support. An additional EUR 9.5 million for the fourth and subsequent selection rounds will be reallocated from ALTUM’s reserve capital funding.
The new draft regulations provide for the implementation of the fourth and subsequent selection rounds, maintaining the existing system of conditions while at the same time expanding the range of eligible beneficiaries, for example in the poultry sector. Support is intended for large investment projects across various sectors, including:
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primary agricultural production;
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military and defence industry projects;
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other companies of strategic importance to the national economy.
It is stipulated that defence sector projects will be assessed as a priority and will have preferential access to support if they meet the programme’s criteria. This will enable faster implementation of significant production and technology projects that strengthen the capacity of the national security industry and the resilience of supply chains.
The programme will be implemented by the Investment and Development Agency of Latvia (LIAA) and the development finance institution ALTUM. Applications for support will be accepted from 20 November 2025 to 20 February 2026.
On 20 November at 1:00 p.m., a ceremonial opening event for the fourth round of the Large Investment Programme will take place at the MoE and LIAA representative office in Jelgava. During the event, Minister of Economics Viktors Valainis, LIAA Director Ieva Jāgere and ALTUM Chairman of the Board Reinis Bērziņš will review the achievements of the Investment Programme to date and discuss companies’ experiences and benefits for the Latvian economy. Media representatives are also invited to attend, with prior registration at san@em.gov.lv.
To date, 28 investment projects have been approved under the Investment Fund. The total volume of investment projects amounts to EUR 736.7 million, with capital rebates totalling EUR 186.5 million.
As a result of these projects, export growth of at least EUR 429.7 million per year is expected, along with the creation of 1,345 new well-paid jobs and investments in research and development amounting to at least EUR 18.9 million.