Competitiveness in the Baltic region is discussed almost every year, whenever a country changes its tax rates, discount systems, application procedures, or introduces new or updates existing incentives to attract investors. Undeniably, for potential investors in energy-intensive production facilities, electricity costs are a significant issue, particularly the scale of the mandatory procurement component and distribution network tariffs, whereas in the extractive industry, the conditions for obtaining extraction licences and the duration of those licences are crucial.

Over the last two years, for a number of potential investors (as well as companies already operating here), a challenge has been opening a bank account in Latvia, complying with anti-money laundering regulatory requirements, and even providing appropriate documentation to confirm beneficial owners.