[1] The current minister since September 15, 2023, is Viktors Valainis from the Union of Greens and Farmers political alliance.

To achieve these ends, the ministry works closely with non-governmental organizations representing entrepreneurs and other social partners.

[2] 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.