Translated using ChatGPT service.
A total of 5.63 million euros have been allocated for the filming of foreign movies and the organization of internationally significant public events (major events) in Latvia, which is expected to contribute nearly 30 million euros to Latvia’s exports.
The decision to increase appropriations is supported by the Cabinet of Ministers and the Saeima’s Budget and Finance (Tax) Committee as part of targeted support for the development of the Latvian economy.
“The allocated support demonstrates Latvia’s commitment to creating a competitive and internationally attractive environment for the development of cultural, sports, and creative industries. Foreign film projects and international events are not only an investment in the country's image but also an important stimulus for business, tourism growth, and regional development. Past experience shows that the state recoups the invested funds. This contributes to overall economic growth,” emphasized Minister of Economics Viktors Valainis.
As a result of a selection announced by the Investment and Development Agency of Latvia (LIAA), 12 projects have been conditionally approved for support — 10 foreign film productions and 2 major event organization projects in Latvia. The total export value planned from these projects in Latvia exceeds 30 million euros, generated by foreign producers’ investments in filming and spending by foreign visitors (tourism services consumption) during the major events. The total planned value-added tax (VAT) from the supported projects exceeds 5.3 million euros.
“Filming foreign movies and hosting large-scale events in Latvia are significant contributions to the development of the creative industries. This is a high value-added sector whose investments yield immediate returns. It is important for us to ensure predictability regarding this support program so that foreign producers and event organizers can plan their projects in the long term. Currently, we see that the government and the Saeima have taken the necessary steps to ensure this. Growing interest from foreign producers and major event organizers confirms this,” stressed LIAA Director Ieva Jāgere.
The total eligible project costs in Latvia amount to 19 million euros. State co-financing is planned as follows — 4,228,597 euros in 2025, 1,125,257 euros in 2026, and 273,000 euros in 2027. Nearly two million euros have been allocated to projects by SIA "Nafta Films": "Young Stalin," "Serafima," and "Efterkrig" ("Unknown Woman"). SIA "Film Angels Studio" has been granted 1.24 million euros to produce the films "Husk" and "Dirt in Your Face."
SIA "Cinevilla Films" will receive 585,000 euros to produce the films "Swingers 2 Estonia" and "Die Putzfrau" ("The Cleaner"), while SIA "Forma Pro Films" has been allocated 391,199 euros for the film "After." SIA "White Picture" received 370,228 euros for the project "Wild, Wild East," and SIA "Mistrus Media" got 307,198 euros for the film "Thousand Yard Stare."
State funding of 690,908 euros was granted for two significant sports events — the Latvian Table Tennis Federation for organizing the European Veterans Table Tennis Championship and the Latvian Football Federation for hosting the UEFA European Futsal Championship for men next year.
Implementing such projects promotes increased tourism flows, encourages business activity in regions, creates new jobs, and offers professional development opportunities for specialists in various fields. Particularly important is strengthening Latvia’s international image, which in the long term lays the foundation for new cooperation projects and investment attraction across various sectors. Furthermore, the country’s experience in hosting international projects demonstrates a professional and stable management environment, which is an important signal to potential partners and investors.
The Ministry of Economics will continue to actively support initiatives that create high added value and strengthen Latvia’s competitiveness internationally.