To promote sustainable economic development, the Investment and Development Agency of Latvia (LIAA) performs the function of a single point of contact within the framework of the EU Net-Zero Industry Act and the Critical Raw Materials Act. The main task of LIAA is to ensure fast and efficient support for merchants whose projects have been granted strategic priority status.
The functions of LIAA include:
- Evaluating applications submitted by businesses and the compliance of the information provided therein with the requirements of Cabinet of Ministers Regulation No. 277 (the Cabinet Regulation) and making a decision within 10 working days on the compliance of the merchant and its project with the set criteria;
- Based on a decision adopted by the European Commission and/or LIAA, by December 15 of each year, including the project granted strategic status in accordance with the criteria set out in the EU Net-Zero Industry Act and the EU Critical Raw Minerals Act, in the unified list of strategic projects;
- Notifying the businesses, relevant public institutions and other related stakeholders about the decision within three working days;
- Publishing the business’s name, its qualifying criteria, and planned projects on the platform www.liaa.business.gov.lv;
- Evaluating priority projects and ranking them in accordance with the criteria specified in the Cabinet Regulation, including the capacity of institutions providing services;
- Sending the updated list of priority project rankings to the relevant institutions;
- Monitoring whether the projects continue to meet the criteria set out in the Cabinet Regulation. In case on non-compliance, the project will be removed from the unified list within one working day, and all involved parties will be informed;
- Every year by March 1st, submitting report to the Ministry of Economics on the results achieved and proposals for improvement.