From March 25, the consultation phone of the Investment and Development Agency of Latvia (IDAL) specifically designed for the period of the crisis has been launched to provide entrepreneurs with information and advice on the possibilities of state aid. We encourage entrepreneurs to contact IDAL by phone 68803505 or by e-mail firstname.lastname@example.org describing as precisely as possible the situation in which the company is and what support it needs. The phone on support opportunities works every working day from 8:30 to 17:00.
Companies also have the opportunity to describe the situation in the IDAL questionnaire on the impact of the crisis on the company’s activities thereby helping to assess the overall situation in a timely manner and to seek the necessary solutions. You can fill out the questionnaire on the IDAL website – https://ej.uz/Krizes_anketa
IDAL will provide consultations by phone and e-mail on export promotion activities in existing and target markets, ensure direct communication with sectoral experts on the identification of the situation and changes in businesses, consultations on issues related to restrictions on external markets (through representatives of IDAL). The IDAL network of external economic representations helps foreign companies to build cooperation in Latvia, while for local companies it serves as a bridge to 19 countries and markets around the world. The representations currently operate in the United States, the United Arab Emirates, Belarus, Denmark, France, Italy, Japan, Kazakhstan, Russia, China (Beijing and Shanghai), the United Kingdom, the Netherlands, Norway, Poland, Singapore, Finland, Ukraine, Germany and Sweden. During the emergency situation caused by COVID-19, the IDAL’s external economic representations are prepared to support and advise Latvian manufacturers on changes in the situation and their impact on the territory of each country represented.
“At present, the focus of IDAL is on supporting entrepreneurs in a crisis situation, so there is a special consultation phone, which will serve to support and help to find one’s way in the situation. This is a contact for entrepreneurs, where they can quickly find out what aid is available at the moment, as well as to find solutions for the sale of existing products and services, if the existing export partners have suspended cooperation,” shares the Director of IDAL Kaspars Rožkalns.
“Similarly to the population in the area of health, economic operators must also have a platform for providing quick and up-to-date information on the aid solutions and the procedures for receiving them. For example, what would be the most appropriate aid instrument, what are the conditions for applying for it. We need to be able to quickly answer current questions of companies so that they can apply these aid mechanisms to their activities,” says Jānis Vitenbergs, Chairman of the National Economy, Agriculture, Environment and Regional Policy Commission of Saeima.
IDAL will collect up-to-date information on the available aid for businesses affected by the crisis on the website of Labs of Latvia https://labsoflatvia.com/atbalsts and will advise business representatives when needed on the possibilities of support during the crisis, for example, on the support instruments from the State Revenue Service (SRS) and the financial institution ALTUM, on how they are applied for and how they should be applied for. Companies which already clearly know which aid they want to use are invited to contact SRS or ALTUM immediately.
Several aid programmes are available to support businesses in the event of an emergency:
- Aid to the companies in the sectors most directly affected by the crisis in the period of downtime – at 75 % of the average monthly gross salary in the last six months before the announcement of the emergency situation or according to the data actually declared about the employee in the last six months, but not more than 700 euro per calendar month. (implemented by SRS) https://labsoflatvia.com/atbalsts#arkartejas-situacijas-laika/atbalsts-uznemumiem-to-dikstaves-perioda. Contact information: 67120020, email@example.com;
- Support in the field of taxes https://labsoflatvia.com/atbalsts#arkartejas-situacijas-laika/atbalsts-nodoklu-joma-uznemejiem-un-stradajosiem-neatkarigi-no-nozares. Contact information: 67120020, firstname.lastname@example.org;
- Support for rent payments of companies (implemented by local governments) https://labsoflatvia.com/atbalsts#arkartejas-situacijas-laika/atbalsts-uznemumiem-nomas-maksa. Contact the respective local government.
- Working capital loan (implemented by ALTUM) https://labsoflatvia.com/atbalsts#arkartejas-situacijas-laika/apgrozamo-lidzeklu-aizdevums. Contact information: 26655309, email@example.com;
- Credit holiday guarantee – contact the bank, which issued the credit – https://labsoflatvia.com/atbalsts#arkartejas-situacijas-laika/kredita-brivdienu-garantija-ja-uznemumu-skaris-covid19. Contact information: 26655309, firstname.lastname@example.org or contact your bank.
The consultation phone of IDAL 68803505 on support opportunities works every working day from 8:30 to 17:00. Questions may also be sent in writing by e-mail email@example.com