In accordance with the regular international survey “Doing Business in 2009”, Latvia was 29^th out of 181 countries, and in the latest survey “Doing Business in 2010”, Latvia is 27^th out of 183 countries.

In the Global Competitiveness Report of the World Economic Forum, in 2009 Latvia was 68^th out of all the countries of the world.

In February 2010 Riga got the highest assessment of the research made by the newspaper “Financial Times” on competitiveness of European cities and regions in the Cost Efficiency category.

In 2009 the credit rating agency “Standard & Poor’s” decreased Riga’s credit rating to the “BB” level, with a negative outlook on development. The credit rating agency “Moody’s Investors Service” in its evaluation emphasized the strong points of the fiscal policy of the Riga City Council, appreciating the economic and financial situation of the City of Riga under the conditions of worsening macro-economic situation in the state, granted rating “Baa3” with a negative outlook of development. Even though the credit rating has decreased, the rating allocated to the city is still above the average rating level, which is attractive to investors and would allow attracting new investments to the city.

In February 2010 Riga received the highest assessment in the study performed by the British newspaper Financial Times on the competitiveness of European cities and regions in the category “Cost Effectiveness”.

Latvia is attractive for investors due to its low business costs and taxes.

For some goods and services, the reduced VAT rate of 10 % is applied in Latvia.

* The social tax paid by an employer.

This material has been prepared in cooperation with the City Development Department of the Riga City Council and www.investinriga.com