Considering the increasing role of Global Business Service Centres (“GBSC”) in the economic growth of the Central European and Baltic regions, as well as the untapped job creation potential for the city of Riga, the Ministry of Economics of the Republic of Latvia, the Riga City Council and the Investment and Development Agency of Latvia, all of which represent the public sector, and The National Alliance of Real Estate Developers, the Association of Latvian Commercial Banks and the Foreign Investors’ Council in Latvia, all of which represent the private sector, on April 26, 2018 signed “Memorandum of Cooperation for the development of Global Business Service Centres” and agreed to undertake deliberate cooperation aimed at the development, growth and new job creation in the GBSC sector.
In cities with a competitive business environment and good workforce availability, GBSCs are used to provide a wide range of high value-added business support and research and development functions supporting regional and global operations of large international companies. Around 50 companies are already operating successfully in Riga in the GBSC sector, including Circle K, Tele2, Accenture, Cabot, Evry, Tieto, Visma, Atea, SEB, DNB, Swedbank and If.
Memorandum of Cooperation for the development of Global Business Service Centres_26.04.2018