The work of the Coordination Council for Large and Strategically Significant Investment Projects (LIP) was resumed in 2024, following Cabinet Decision No. 43 of 9 April 2024, which approved amendments to the LIP regulations. These amendments introduced improvements in the organization of LIP’s work and a more efficient decision-making process.
The objective of LIP is to ensure coordinated inter-institutional cooperation for the successful implementation of investment projects in the interests of the State of Latvia, including reviewing and resolving issues related to bureaucratic burden and administrative obstacles in the implementation of investment projects.
The task of LIP is to decide on the necessary measures for advancing specific large and strategically significant investment projects, in order to promote the successful implementation of investment projects that are important for Latvia’s economy. The agenda of LIP is determined by its Chair, taking into account proposals prepared by the operational working group for large and strategically significant investment projects established by the Ministry of Economics, and including issues submitted by LIP members.
The functions of the LIP Secretariat are carried out by the Investment and Development Agency of Latvia. The Secretariat ensures the organization of LIP meetings and performs support procedures necessary for the operational working group for large and strategically significant investment projects. Within the operational working group, agreement is reached on the topics to be included in LIP meetings, in-depth analysis is conducted, and proposals are developed.
LIP has the right to:
- Instruct the Secretariat to compile information provided by public sector institutions, the private sector, and non-governmental organizations regarding the implementation of specific large and strategically significant investment projects;
- Invite representatives of public sector institutions, capital companies, non-governmental organizations, social partners, and other experts to participate in LIP meetings;
- Recommend specific solutions to public sector institutions and capital companies for the successful implementation of investment projects;
- Establish expert working groups, if necessary.
The decision on whether a project qualifies for the status of a large investment project and on its inclusion in the list of large and strategically significant investment projects is taken by the operational working group for large and strategically significant investment projects. In order to obtain and compile the information necessary for assessing the status of a large investment project or to identify issues related to project implementation, the Secretariat works closely with company representatives. To initiate cooperation, company representatives are invited to contact the LIP Secretariat.
Head of the Secretariat – Andris Blumbahs (Head of the Investment Services Provision Division, Investment Attraction and Business Development Department, Investment and Development Agency of Latvia), email: lip@liaa.gov.lv