Republic of Latvia
Ministry of Economics
Latvijas Republikas Ekonomikas ministrija
Coat of arms of Latvia
Agency overview
JurisdictionGovernment of Latvia
HeadquartersBrīvības iela 55, Riga
56°57′27″N 24°07′24″E / 56.9575°N 24.1233°E / 56.9575; 24.1233
Agency executive
  • Viktors Valainis, Minister of Economics
Child agency
Websiteem.gov.lv
Building of Ministry

The Ministry of Economics of the Republic of Latvia (Latvian: Latvijas Republikas Ekonomikas ministrija) is the leading state administrative institution responsible for economic policy in Latvia. The ministry also represents the economic interests of Latvia in the European Union.[1]

Minister for Economics

The current minister since September 15, 2023, is Viktors Valainis from the Union of Greens and Farmers.

Functions

The ministry develops and implements economic structural policy, manufacturing policy, energy policy, external economic policy, domestic market policy (for goods and services), commercial development policy, competitiveness and technological development policy, consumer rights protection policy, and construction and housing policy. To achieve these ends, the ministry works closely with non-governmental organizations representing entrepreneurs and other social partners.[2]

EU Structural Funds

The Ministry of Economics is also responsible for introducing and supervising programs and projects for EU Structural Funds. These funds are administered by the Investment and Development Agency of Latvia,[3] a government agency responsible for promoting business development in Latvia by facilitating the growth of foreign investment and increasing the competitiveness of Latvian entrepreneurs in domestic and foreign markets.[4] The Investment and Development Agency of Latvia is directly subordinated to the Ministry of Economics.[5]

Subordinated institutions

The Ministry of Economics oversees several government agencies in Latvia: the Investment and Development Agency of Latvia, Latvian Tourism Development Agency, the Central Statistical Bureau of Latvia, Competition Council, Consumer Rights Protection Center, and Public Utilities Commission.[6]

See also

References

  1. ↑ "Latvijas Republikas Ekonomikas Ministrija". Em.gov.lv. Archived from the original on 2012-07-12. Retrieved 2012-08-11.
  2. ↑ "Latvijas Republikas Ekonomikas Ministrija". Em.gov.lv. 2012-07-23. Archived from the original on 2014-07-20. Retrieved 2012-08-11.
  3. ↑ "LIAA". LIAA. Archived from the original on 2012-07-09. Retrieved 2012-08-11.
  4. ↑ "LIAA". LIAA. Archived from the original on 2012-05-02. Retrieved 2012-08-11.
  5. ↑ "LIAA". LIAA. Archived from the original on 2012-05-02. Retrieved 2012-08-11.
  6. ↑ "Latvijas Republikas Ekonomikas Ministrija". Em.gov.lv. 2012-04-19. Archived from the original on 2012-08-28. Retrieved 2012-08-11.
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