Riga Launches 25-Year Strategy to Boost Population and Attract Investment

The Riga City Council has initiated work on a new long-term sustainability strategy aimed at guiding the development of the Latvian capital until 2050. The strategy outlines key directions, goals, and priorities for the next 25 years, with a central focus on increasing the city's population and attracting investment, according to a statement from the council's external communication department.

Edgars Bergs, head of the Riga City Council's Development Committee, emphasized that the new strategy must prioritize entrepreneurship development and population growth. "More people and more investment — these are the priorities that should be at the heart of Riga's development strategy, because without people and investment, the city will become a museum," Bergs said. He added that Riga must clearly articulate its advantages to convince both local and foreign investors to commit funds.

The strategy development process includes various public participation events. On June 11, the first business forum titled "See Riga. See Opportunities" was held, bringing together representatives from different sectors to discuss enhancing the capital's competitiveness and improving the business environment. Experts at the forum highlighted the need for Riga to adopt a targeted strategy for attracting international talent and creating conditions where highly skilled professionals can develop their enterprises and drive innovation.

Discussions also covered industrial development and the city's economic future, with experts pointing out that Riga requires a clear industrial development strategy. In sessions focused on business center development, participants noted that the municipality must change its approach to urban planning by designing integrated neighborhoods where residents and businesses have access to all necessary infrastructure and services. Additionally, when identifying priority development areas, the city must plan and provide required infrastructure in a timely manner, as its availability is a key condition for successful construction projects.

Participants underscored the importance of making construction processes faster, more transparent, and more predictable for investors. The overall goal is to reverse population decline and create a dynamic, innovation-friendly environment that can compete on the international stage.