In discussions with company executives, the minister of economics underscored Latvia’s strengths in attracting investments and the government’s commitment to fostering the development of artificial intelligence (AI) projects. Latvia is also well-positioned to contribute to digital infrastructure efforts, such as creating data centres and connectivity solutions, where the availability of green energy will be a critical factor.
„In discussions with major technology companies, there is a clear and strong interest in expanding cooperation with Latvia. We have identified several issues that need to be addressed at the national level and within the European Union’s policy-making framework to ensure that large US-based companies like Google and Meta can soon view Latvia as their regional development hub,“ noted Valainis.
Executives from US technology companies highlighted the challenges posed by EU regulations, which have hindered their broader entry into Europe. In this context, Latvia’s plan to establish an AI Centre of Excellence could be a key factor in attracting international partners. The centre’s objectives will be to promote talent development, create local AI solutions to enhance companies’ international competitiveness and establish global collaboration networks with industry leaders.
Google is already implementing a comprehensive support programme for small and medium-sized enterprises, „Grow with Google,“ in cooperation with the Ministry of Economics and the Investment and Development Agency of Latvia (LIAA), and also supports the Riga Tech Girls initiative. Discussions with Google’s leadership also explored the possibility of establishing a testing base in Latvia for the autonomous vehicle project Waymo, where suitable infrastructure can be offered for its development. The next step identified is expanding collaboration in the AI sector to integrate the latest technologies into society and the economy. Currently, only 4.5% of companies in Latvia use AI solutions, but the goal is to increase productivity by expanding technology adoption.
The trade mission to the US, organised by the Ministry of Economics and LIAA, will take place from September 16 to 24 and cover the cities of Houston, San Francisco, and Denver.
During the visit to San Francisco, President Edgars Rinkēvičs and Minister of Economics Viktors Valainis are accompanied by companies and organisations such as: Handwave; RIX Technologies AS; PrintyMed; TestDevLab; Codnity Dev; Fokker Next Gen Latvia; Latvian Chamber of Commerce and Industry; SAF TEHNIKA; Helve; Tet; AJ Power Holding; LMT; Delta Green Line EU; BATWATEX; SWH SETS; Moon Inc; Riga Chair Factory; Orbit8; Ax Group; Asya; GRINDEKS; AD VERBUM; Goldingen G.B.; Siltumelektroprojekts; Hyper; Latgale Planning Region; KBZ; Abillio; Sehaci; Latvenergo; Risk Focus LV; RĪGAS SILTUMS; Slokenbergs PLLC; UPCODE; Latvian State Radio and Television Center; APPLYIT; JEFF; Pelegrin.
LIAA organises the participation of high-ranking government officials in international visits within the framework of the Innovative Business Development Programme for Small and Medium-sized Enterprises (SMEs), co-financed by the European Union with support from the European Regional Development Fund and national funding.