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Friday 15.12.2017 | Name days: Jana, Johanna, Hanna
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Number of companies founded in Latvia by Ukrainian citizens shows a steady increase

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUSince 2011, there has been a steady increase in the number of companies in Latvia that are partially or completely owned by Ukrainian citizens, according to information compiled by Firmas.lv.

Over the course of 1991 – 1997, there were fewer than ten companies founded in Latvia using capital from Ukraine. In 2000, on the other hand, there were 26 such companies founded in Latvia. This number reached 69 in 2010.

Ukrainian businessmen have become more actively founding companies in Latvia. Numbers continue to grow: 102 companies were founded in Latvia in 2011, 132 in 2012 and 128 in 2013.

Data on the first couple of months of 2014 also suggest the possibility of a large number of Ukrainian companies being founded in Latvia over the course of the year. For example, there were 28 companies founded in Latvia in the first three months, which is the same number as there was in 2003.

A closer inspection of Ukraine’s investments around different sectors reveals that Ukrainian businessmen mostly found companies in Latvia that are engaged in trading, transport, logistics and constructions sectors.

In terms of base capital amount, the largest in Latvia among companies with Ukrainian money include Regional Investment Bank (EUR 32.33 million), Notum company (EUR 10.2 million) and Villa Flora (EUR 3.7 million).

Ref: 103.109.109.8833


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