38. Juris Smirnovs, professor. Potential of Latvian Construction Industry.

Construction industry is one of the most impor­tant industries in Latvian national economy both according to the financial turnover and the num­ber of employees. Data of Central Statistical Bureau show that the share of construction in the structure of GDP in Latvia has rapidly increased since 2005 (by 6.1% in 2005, by 7.4% in 2006 and maximum by 8.4% in 2007). This increase was the evidence of the development of construction industry, increase in demand for construction services and increase in construction volumes. The amounts of construction production during the recent years have increased up to 818.1 thousand Lats in 2005, 1131.6 thou­sand Lats in 2006, 1609.7 thousand Lats in 2007 and 1774.1 thousand Lats in 2008.

Legal framework for construction industry is based on the Construction Law adopted by the Par­liament on August 10, 1995, the conditions of which concern all types of structures. The construction industry in Latvia is developing in line with the Na­tional Programme on Construction 2012 approved by the Cabinet of Ministers. Its main defined aim is to ensure the development of competitive construc­tion. The essence of competitiveness lies in meeting the demand of national economy with environmen­tally friendly, healthy, energy and resource saving, aesthetical and modern construction products in di­versified economic environment of modern knowl­edge, innovations and technologies.


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