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SPOTLIGHTONRIGA PARTNERCONTENT


The Investment and Tourism Agency of Riga on the way to reshape the global image of Riga


LIVERIGA


Riga has long been among the largest metropolises in the Northern Europe, with its population exceeding 1 million within the metropolitan area. Geographically it is perfectly located rightonthe boarder ofEuropeUnionand CIS,making it a strategichubfor interna- tional businesses. Riga offers the best connectivity in the region, having the largest airport and most direct flights in the Baltics, as well as one of the largest cargoandpassenger ports. Riga is a part of the global Rail Baltica pro-


ject with the goal to integrate the Baltic States into the European rail network. The project includes five EU countries –


Poland, Lithuania, Latvia, Estonia and indirectly also Finland and will ultimately link Helsinki, Tallinn, Pärnu, Riga, Panevežys, Kaunas, Vilnius, Warsaw into one fast and modern railway con- nection. Riga is also the largest education hub in the country, having 80% of all students in Latvia concentrated in Riga, thus fostering innovations and sustainable development within the urban environment. Due to the location and access, global


companies are establishing HQ’s for their Baltics operations in Riga and positively affect- ing the development of the real estate market in the result. However, considering the city, size and development history, there is still a lot of potential for growth, especially within the commercial real estate as the neighboring cit-


ies of similar size and population (e.g. Stockholm or Helsinki) have developed con- siderably more real estate already. The market in Riga is mostly dominated by local, Scandinavian investors and developers, but other institutional capital is also present (for example Blackstone, or W.P. Carey). Within the last couple of years, Riga has


solidified itself as a great investment destina- tion and significantly improved its invest- ment environment. To reach even more ambitious goals in economic development and global recognition, on the 1st of April 2021 the Investment and tourism agency of Riga (henceforward – LIVE RIGA) was estab- lished. The main goal of LIVE RIGA is to ensure sustainable and transparent invest- ment and tourism promotion globally by serving as the single point of contact for any external interested parties, including inves- tors, companies, tourists and residents alike; to provide information, solve bottlenecks and ensure a thriving and sustainable envi- ronment for business development, thereby supporting the existing investment projects aswell as attracting new ones, boosting tour- ism development and international recogni- tion of Riga. In a time of modern challenges, LIVE RIGA is a brave step towards new types of open and creative relationships between citizens, businesses and tourists. “Wearelookingforwardtohavingan open dialoguewith investors, associa-


tions,companiesandchambersofcom- mercebecauseexternalpartiesarethe mostcompetentatpointingouttheflaws inpublicprocedures. It’svitalforcontinu- ousimprovementanduninterruptedwork towardsdevelopingthecityofRiga.Weare heretowelcomenewcompanies,inves- torsandtouriststoourcityandtoserve youtothebestofourability.” - Rolands Bogdanovs,ManagingDirectors of LIVE RIGA. LIVE RĪGA mission is to turn Riga into an


internationally renowned Northern European metropolis and an attractive investment and tourism destination. It is and will be a reliable, responsive and result-ori- ented partner for investors, entrepreneurs and associations to help solving problems related to municipal services.


Live | Invest | Visit | Engage www.liveriga.com


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