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The Scientific Institute of Productivity, Efficiency, Development and Competitiveness at the University of Latvia "The University of Latvia think tank LV PEAK " (LV PEAK) was established on 25 November 2019. The basis of the LV PEAK is a recommendation issued by the Council of the European Union on 20 September 2016 and the 29 October 2019 decision of the Cabinet of the Ministers of the Republic of Latvia to nominate “The University of Latvia think tank LV PEAK” as a National Productivity Board of Latvia.

The LV PEAK Council is comprised of highly competent members, including academics and experts representing the Latvian Academy of Science, the University of Latvia and the private sector. LV PEAK has a co-operation agreement with the Ministry of Economics, the Latvian Chamber of Commerce and Industry (LTRK) and the Employers' Confederation of Latvia (LDDK).

The main mission of LV PEAK is to conduct an independent, objective and scientifically sound analysis of competitiveness and productivity and to develop policy recommendations to the Latvian government.