German Companies Advance Investment Projects Worth More Than €600 Million in Latvia

RIGA, Latvia, Sept. 18, 2026 /PRNewswire/ -- During a trade mission organised by the Investment and Development Agency of Latvia (LIAA) in Berlin from 14 to 17 September, German companies advanced investment projects and cooperation opportunities in Latvia in renewable energy, defence, autonomous mobility and space technologies. The two most advanced projects represent more than €600 million in planned investment.

The mission brought together 53 Latvian companies and organisations from the ICT, fintech, life sciences, defence and dual-use sectors for meetings with clients, investors, banks, manufacturers, research centres and healthcare institutions.

"Germany is Latvia's largest export market outside the Baltic states and one of the world's leading industrial and technology economies. Three years of focused engagement are now translating into investment projects worth more than €600 million. In Berlin, we discussed the next steps for Notus Energy's renewable energy projects and Dynamit Nobel Defence's planned production facility in Latvia. Our goal is to turn investor interest into production, technology and jobs in Latvia while strengthening Latvian companies' position in the German market," said Minister for Economics Viktors Valainis.

Talks with Notus Energy focused on two renewable energy projects, including grid connections, permitting and financing. Discussions with Dynamit Nobel Defence advanced plans for a Latvian production facility following a memorandum signed with the State Defence Corporation in February.

The delegation also met HOLON to explore cooperation in manufacturing, supply chains, autonomous mobility testing and technology development. Berlin-based space technology company LiveEO, whose Latvian subsidiary has operated for four years, was invited to expand its activities in Daugavpils. Latvia's data-centre investment opportunities were presented to German companies.

Latvian ICT companies took part in the Big Bang AI Festival and other German-Baltic digital cooperation events. Fintech companies met 20 institutional investors, family offices and financial-sector representatives. Eight Latvian-regulated investment platforms serve more than 800,000 foreign investors and have facilitated over €13 billion in investments, with German investors generating around 30% of demand.

Life sciences representatives visited the Berlin-Buch biotechnology ecosystem, FyoniBio, BIOTRONIK, Helios Klinikum Berlin-Buch and the German Heart Center at Charité. Defence and dual-use companies met German industry and government representatives, including Rheinmetall, HENSOLDT, Rohde & Schwarz and Quantum Systems.

LIAA, the German Chamber of Commerce and Industry (DIHK) and the German-Baltic Chamber of Commerce (AHK) signed a memorandum giving Latvian exporters access to the German Chambers Abroad network at 150 locations in more than 90 countries. AHK will also establish a dedicated Latvian export support contact point.

"This mission demonstrated the value of systematic follow-up. Some discussions are moving towards implementation; others must now lead to testing, supplier qualification or contracts. LIAA will continue working with companies and investors until the projects discussed in Berlin deliver tangible results," said Vita Balode-Andrews, Director of LIAA's Export and Innovation Services Department.

In 2025, trade in goods and services between Latvia and Germany reached €5.5 billion, with Latvian exports accounting for €2.09 billion. LIAA is Latvia's national investment and export agency, supporting business competitiveness, export growth and investment attraction.

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