Action Plan for the Memorandum of Cooperation for the Development of Global Business Service Centres

Appendix 1 to the Memorandum of Cooperation for the development of Global Business Service Centres

Action plan for the Memorandum of Cooperation for the development of Global Business Service Centres

Number Tasks Responsible Deadline Cooperation with existing GBSCs Encourage the establishment of an 1 • Ministry of Economics (MoE), 31.12.2018. association for GBSCs in Latvia. Organize information seminars to • Investment and Development Agency of promote meaningful cooperation and 2 Latvia (IDAL) 31.12.2018. understanding of high value added • Ministry of Economics (MoE), GBSCs. • National Alliance of Real Estate Participate jointly in international Developers (NARED) sector conferences such as the 6th • Riga City Council (RCC) Annual CEE Shared Services and • Ministry of Economics (MoE) 3 31.12.2018. Outsourcing Awards, Deloitte Shared • Investment and Development Agency of Service Conference 2018, and SSOW Latvia (IDAL) conference in Vilnius. • Global Business Services Centers (GBSC) • Ministry of Economics (MoE) Organize meetings with company • Investment and Development Agency of leaders from the GBSC sector, Latvia (IDAL) facilitate the expansion of existing • Association of Latvian Commercial 4 31.12.2018. business centres and invite Banks (ALCB) companies to offer more evolved • Riga City Council (RCC) services. • National Alliance of Real Estate Developers (NARED) Create a database of detailed and • Investment and Development Agency of 5 topical information about Latvia and 31.12.2018 Latvia (IDAL) existing GBSCs. Develop an action plan for the • Association of Latvian Commercial necessary legal amendments (labour Banks (ALCB) law, improvements in tax 6 • Ministry of Economics (MoE) 31.12.2018. application, rental law) to improve • National Alliance Of Real Estate the environment of the GBSC sector. Developers (NARED) Include the identified solutions in the

Appendix 1 to the Memorandum of Cooperation for the development of Global Business Service Centres Number Tasks Responsible Deadline Action plan to improve the business • Global Business Services Centers environment. (GBSC)

Enhance local expertise through support programmes Language learning support for GBSC • Ministry of Economics (MoE) 1 employees, with related expenses • Investment and Development Agency of 31.12.2018. partly covered. Latvia (IDAL) Facilitate the upgrade of skills and advanced vocational training (in- depth IT knowledge, AI, robotics, • Ministry of Economics (MoE) 2 automation, Scandinavian languages) 31.12.2018. • Riga City Council (RCC) to meet the current labour market demands, and to support requalification of older workers. Prepare a technical and economic 3 feasibility study for an international- • Ministry of Economics (MoE) 31.12.2020. level IT college. Provision of missing resources Develop a plan for urban development stimuli and necessary 1 infrastructure to meet GBSC needs, • Riga City Council (RCC) 31.12.2020. in accordance with the city’s development planning priorities. To facilitate building at least 200,000m2 of office space in • National Alliance of Real Estate 2 31.12.2020. accordance with GBSC Developers (NARED) requirements. Analyse and identify procedural • Association of Latvian Commercial barriers met by businesses in Banks (ALCB) attracting highly-skilled employees. 3 • Global Business Services Centers 31.12.2018. Develop suggestions for streamlining (GBSC) the processing of work permits for • Ministry of Economics (MoE) highly-qualified workforce.

Support more new property • National Alliance of Real Estate 4 31.12.2020. development projects. Developers (NARED)

Promotion of the sector’s development both in Latvia and on the international level

Appendix 1 to the Memorandum of Cooperation for the development of Global Business Service Centres Number Tasks Responsible Deadline Develop CV and cover letter • Ministry of Economics (MoE) outlining perspectives of GBSC in 1 • Investment and Development Agency of 31.08.2018. Riga for reaching out to potential Latvia (IDAL) investors. Create a GBSC section on the website of the Investment and Development Agency of Latvia • Investment and Development Agency of 2 31.12.2018. (LIAA) highlighting key advantages Latvia (IDAL) of Latvia (flight connections, infrastructure, work culture, etc.) • Ministry of Economics (MoE) Determine the TOP 10 companies to • Riga City Council (RCC) attract to Latvia. Organize • Investment and Development Agency of informational visits, presenting Riga Latvia (IDAL) 3 31.12.2018. and Latvia as the most attractive • Global Business Services Centers investment destination in north- (GBSC) eastern Europe. • Association of Latvian Commercial Banks (ALCB) • Investment and Development Agency of Latvia (IDAL) • Riga City Council (RCC) Organize a GBSC conference in • Ministry of Economics (MoE) 4 Riga. 01.01.2020. • Association of Latvian Commercial

Banks (ALCB) • Global Business Services Centers (GBSC) Advertise Riga as a GBSC destination by participating in 5 • Working group 01.01.2020. international conferences and other events. • Association of Latvian Commercial Address government and members of Banks (ALCB) Saeima, introducing them to the 6 • Global Business Services Centers 31.12.2018. GBSC development process and its (GBSC) goals. • Ministry of Economics (MoE)

Organize career days to promote the • Global Business Services Centers 7 31.12.2019. concept of high value-added GBSC. (GBSC)