This profile provides a detailed description of business and corruption in Latvia, including analysis of corruption in public and private sectors, corruption legislation and implementation. This profile includes resources to assist companies in mitigating the risks of corruption when doing business in Latvia. Companies currently, or planning, to do business in Latvia should be aware of the following developments:
- Following the September 2011 elections, Latvia appears to have broken free of the political influence of the country’s oligarchs.
- Latvia has adopted several significant amendments in its anti-corruption legislation (Law on Prevention of Conflict of Interest in Activities of Public Officials, Law on Money Laundering, the Political Parties Funding Law and the Criminal Code) in recent years to strengthen integrity.
- Although Latvia has made considerable progress in combating administrative corruption, political corruption is considered to be a major problem.
- The public procurement process is plagued by a lack of transparency and accountability.
To mitigate the risks of corruption when doing business in Latvia, companies should consider:
An extensive description of the levels of corruption within Latvian institutions and sectors are outlined in the profile’s Corruption Levels. A more detailed analysis on the Latvian government and civil society achievements and deficits in the fight against corruption are available in the Public Anti-Corruption Initiatives and the Private Anti-Corruption Initiatives chapters.
Latvia Corruption News