Norwegian investments in Latvia are increasingly growing and you can look at some of the most successful shown in this video.
Today Norway is the 4th largest investor in Latvia with 600 million EUR direct investment in service, retail, manufacturing and other industries. Norwegian and Latvian cooperation has resulted in new shopping centres, book printing shops, high-end electronics production and much more.
Norway is not alone here in Latvia, some of the biggest retailers in country are Scandinavian, take supermarket chain Rimi, for example, it entered Latvian market in 1990s and now can be found in every city, same goes for Narvesen kiosk franchise. Linstow Center Management is the operator of some of the biggest shopping centres in Riga.
Manufacturing sector just like retail can be found outside the capital Riga. Norplast is a company producing mostly maritime equipment like boats and water safety equipment and can be found in Saldus, western Latvia. Heading back to capital city we have Livonia Print, a printing plant and bindery, that has produced more than 25 million books to this day.
Those following the latest news also know that Norwegian company Orkla has acquired some of the biggest Latvian sweets and confectionery producers, one of them – legendary brand Laima, that takes up 30% of the local chocolate market and with successful marketing campaigns contributing to Laima’s popularity between tourists, this brand will gain more recognition in Baltic and Nordic region.
Considering that Latvian economy’s projected growth is one of the highest in EU we can expect more investment and more Norwegian companies in this Baltic country.