This is a best prospect industry sector for this country. Includes a market overview and trade data.
A Latvian priority since regaining independence has been to update its outdated data and telecommunications sectors. Large investments have been made both in telecommunication and high-speed data transmission networks, and that trend is expected to continue. U.S. companies have recently succeeded in competing for government contracts in this area, providing both technology and services.
Internet and electronic commerce are rapidly penetrating the Latvian market and increasing the need for information and communications technologies (ICT) products, services, and support. The total ICT sector turnover has reached about $4.6 billion, and the sector accounts for about 6 percent of total GDP.
For these reasons, the ICT sectors, including computer services, computer software, computer hardware and peripherals, and telecommunications services have played a significant role in Latvia’s economy during recent years. There are about 7,050 companies operating in the Latvian ICT sector.
Prospects can be found in almost any sub-sector of the ICT market. Latvia’s highly educated, multilingual, and competitively-priced workforce has led to opportunities in the field of business support centers. The rapid development of the ICT sector has given rise to opportunities in the fields of data and network security. E-government initiatives have opened opportunities for participation in Latvian government tenders for a wide range of ICT-related services.
Please see the Supplement to the Official Journal of the European Union dedicated to European public procurement.
Latvian Export and Import Directory (http://www.exim.lv/)
The popularity of the Internet in Latvia has heightened the need for computer and network security. This sector will grow, especially accounting for the growing popularity of online banking in the country. Opportunities can also be found in: Internet/intranet systems and networks implementation, education and training, support services, software development and re-design, enterprise resource planning services, implementation of Internet B2B software, development of payment card systems, adaptation of foreign software, development of electronic communications, and development of call centers.
- Latvian Internet Association
- Latvian Information and Communications Technology Association
- Latvian ICT Sector overview