Competition of Cities for Investment Attraction

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Competition of Cities for Investment Attraction
Conference on Investment in the Baltic
Metropolitan Regions Riga, August 24 2006
Karlis Caunitis Executive Director
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• Second level
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• Fifth level

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FICIL The Foreign Investors Council in Latvia
FICIL is an association of the largest foreign
companies and foreign Chambers of Commerce in
Latvia.
FICILs mission is to improve the business
environment in Latvia by an active dialogue with
the government.  
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Representation and Activities

• FICIL represents a cross-section of foreign
  investments from various countries and in various
  industries
• FICIL works with the government of Latvia on
  solving common problems shared by its members
• FICIL identifies generic issues and strives for
  solutions that improve the overall investment
  climate

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Investment Conditions Main Criteria for
Comparison and Competition

• Macroeconomic environment
• Business environment
• Vision and strategy of the country or city

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Macroeconomic Environment

• Course of economic development for the three
  Baltic countries and their capital cities has
  been similar
• International assessment, e.g. rating agencies,
  indicate some differences in strengths and
  weaknesses
• Investors take a regional perspective in the
  Baltic States

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Business Environment

• Once the investment region is chosen, business
  environment in the cities decide the competition
• Indicators can be formal and quantifiable, but
  also reputation and word of mouth play a role
• National governments and municipalities can
  co-operate with investors organisations to
  achieve short- and medium-term improvements

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Vision and Strategy of the Country or City

• Five elements of a powerful vision
• Long term (15 - 20 years)
• Priority specific
• Integrated approach
• Clear and measurable goals
• Widely accepted, shared and communicated
• Investors view on a vision for Latvia and Riga
  A niche of innovation, synergies of traditional
  and modern sectors

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Vision for an international trading gateway

• Rapid logistic centre (LC) development in Europe
• Based on EU 92 experience, a centralized
  logistic system will be implemented in Central
  Europe

Source Mr. Remco Dodde, LCP Consulting
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Investment Attraction A Case for Baltic Cities
Co-operation

• Shared part of a regional vision and joint
  marketing efforts
• Integration of business environment and
  infrastructure
• Joint efforts in ensuring availability of top
  quality human resources

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