POLARIS process

Services with strategic approach – POLARIS process

We offer guidance and support throughout the investment process, from preparation and initiation, through implementation, to ongoing follow-up. As the representative of the Ministry of Economics for working with investors, our services are available free of charge.

Investors typically work with one of our advisors or project managers as a single point of contact. Department of Investment Projects works as a team, supporting each other to satisfy your needs as an investor. Our advisors have expertise in one or more business sectors and are thoroughly knowledgeable about opportunities and requirements of their respective sector(s).

As part of our suite of services, we employ the POLARIS process, our practical and flexible methodology that provides an integrated set of management functions tailored to the needs of individual investors. Polaris enables efficient communication, cooperation and execution of tasks among the broad range of stakeholders (state and private) involved in investment projects.

An overview of our comprehensive services:

Information on economic and market situation: We provide investor clients with information they need on evaluating Latvia as a potential site, including economic and market dynamics, workforce availability and business incentives.

Business opportunities: LIAA is a one-stop solution for foreign companies looking at establishing a new business or expanding their base in Latvia. We organize best location and fact-finding missions, company visits, bring investors to potential facilities sites and arrange meetings with stakeholders.

Investment incentives: We offer information on a host of financial and strategic business incentives available from local and state sources. As LIAA is also one of the administrators of EU Structural Funds in Latvia, we can identify programs applicable to our clients.

Contacts with business partners in Latvia and abroad: LIAA provides not only investment promotion within Latvia, but also export promotion in markets around the world. Through our representative offices, we have a wide and developed network of companies and individuals – located domestically and internationally - who are interested in working with investors, including suppliers, service providers, utilities companies and other investors.

Identification of best property options: LIAA operates its own data base of real estate sites, which we browse according to investor’s inquiry to satisfy the needs of a given investment project. Also the base of connections with real estate companies and municipalities gives opportunity to find best solution for your location.

Cooperation with municipalities and academia: We work closely with local governments throughout the country, enabling cooperation and support for individual investors. Research institutes and universities are active participants in working with investors in developing innovations, products and patents.

Access to relevant government officials: Our position within the national government provides access to relevant local and state officials, enabling streamlined decision-making and approvals for projects.

Assistance with start-up procedures and investment project aftercare: We provide project management services starting from project initiation, during set-up and after implementation (aftercare) by working with investors to identify lessons learned and new further opportunities for business development.