Almost thirty Belarus Companies – mainly those working in the field of information and communication technologies – have expressed a desire to relocate their operations to Latvia. 12 of them have decided to transfer their employees, the portal “Delfi” informed Latvian Investment and Development Agencies (LIAA) Director Kaspars Rožkalns.
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The portal “Delfi” has already reported that Latvia is in a hurry to use the unstable situation in Belarus as a lure neighboring companies to relocate. As the portal “Delfi” was informed by Rožkalns, by Monday, September 14, LIAA has provided more than 150 consultations to Belarusian companies.
By Monday, 29 companies, mainly working in the field of information and communication technologies, have shown serious interest in relocating their companies to Latvia.
Of these 29 companies, 12 have already decided to redeploy 472 employees. For the time being, these companies mainly plan to relocate management representatives and key specialists, Rožkalns emphasized.
In total, 116 companies, for which LIAA has provided in-depth consultations, employ more than 4,000 people in Belarus. About 30 of these 116 companies work in the field of Information Technology, while 25 are manufacturing companies. Also, as noted by the head of LIAA, several companies meet the criteria defined in the New Companies Law and their employees will be able to obtain New Company visas.
It has been previously reported that the Latvian offer is being seriously evaluated by the Belarusian company PandaDoc. Asked if any other companies could be allowed to move to Latvia, Rožkalns noted: “As with other investment attraction projects, LIAA maintains customer confidentiality and does not disclose the names of specific companies. This is related to both the security situation in Belarus and the business situation of these companies. interests. “
“It should be noted that many companies, when deciding to relocate the company, have not yet discussed it with their employees,” the head of LIAA continued.
According to the information gathered by Lursoft, the representatives of Belarus have invested 10.57 million euros in the share capital of 871 companies registered in Latvia, and in total there are currently 20 legal entities and 989 natural persons in the list of investors.
However, during the last six years there has been a tendency for the amount of accumulated investments from Belarus in the share capital of Latvian companies to decrease. In terms of total investment in the share capital of Latvian companies, Belarus ranks 29th among all countries, alongside Israel and Canada.
You can read more about Belarusian companies in Latvia here.