University of Latvia University of Latvia The University of Latvia (LU) () is a state-run university located in Riga, Latvia. It was established in 1919. The university is ranked 701st–750th in the world, as well as 4th in the Baltic states after the University of Tartu, Tallinn University of Technology, and Vilnius University. The University of Latvia, initially named as the Higher School of Latvia () was founded on September 28, 1919 on the basis of the former Riga Polytechnic (founded in 1862). The first rector of the university was chemist Paul Walden. In 1923, the school received its current name with the
History of Latvia state took control over cooperative societies and associations. Dairy industry was placed under control of Central Union of Dairy Farmers. On April 9, 1935 a state controlled Credit Bank of Latvia was created which reduced role of foreign capital by creating many state owned industry monopolies and joint stock companies. Buyouts and liquidations of foreign, Baltic German and Jewish owned companies become a norm. In place of many competing companies large state owned companies were created. In 1939 state owned 38 such companies. The new JSC Vairogs produced railway carriages and Ford-Vairogs automobiles under Ford licence. VEF made world's smallest