This report provides an assessment ofthe corporate governance policy framework and enforcementand compliance practices in Latvia. Latvia has alreadyinvested considerable resources in upgrading its legislationto meet EU Directives, and the legislative and regulatoryframework dealing with corporate governance issues is quiterobust. Strengths and weaknesses are highlighted and policyrecommendations made where appropriate. This report promotesprivate sector initiatives and capacity building to followup on the legislative progress on corporate governancereform. It recommends the development of a Latvian orregional voluntary code of best practice of corporate governance.