At the Riga Investment and Tourism Agency, the year 2023 has started both with innovations in the promotion of workforce attraction and the attraction of international companies: the international talent attraction platform “Work in Riga” has been created and the “Workcation” program has been made more accessible, inviting companies to spend a paid “working vacation” in Riga.
Attracting talent is the main challenge of cities
Riga’s international competitiveness is primarily determined by the availability of qualified labor. Both now and in the future, this will be a major challenge for cities. The issue of labor attraction is also the main focus of the Riga Consultative Council of Investors, founded last year, which the council also indicated in an open letter to the Prime Minister.
Riga has taken an important step to address the labor shortage by creating a digital platform unique in Latvia “Work in Riga.” The platform gathers information in a convenient and understandable way for job seekers from European Union countries, outside the EU and those living in the diaspora. This is the only platform that provides clear and understandable information on all matters related to moving and starting a job in one place. The available information is also useful for companies already in Riga and potential investors.
Labor as the most important aspect when investing in Riga
Labor shortage is the main problem in the economic development of Riga and the country. It is also the determining factor that both foreign and local investors take into account before deciding to invest in a particular area. At the moment, when making a decision to carry out investment projects in the Baltic States, foreign investors often choose Lithuania and Estonia, where an effective talent attraction policy is implemented. Currently, Riga has the potential to attract foreign investments in the amount of 1 billion euros, thus creating 3,000 new jobs, however, the implementation and approval of these projects primarily depends only on whether the relevant labor resource will be available.
Riga Mayor Mārtiņš Staķis notes: “The lack of labor creates challenges not only for new investors, but also for companies already working in Riga. By creating the “Work in Riga” platform, the Riga Investment and Tourism Agency will support investors who do business in the city or plan to do so in the future. The platform gathers information for citizens of other countries on how to start working in Riga. This is the first project of its kind, and it will be a useful support for talents who are looking for a job, as well as for all Riga entrepreneurs and investors.”
The Work in Riga platform was created with the involvement of entrepreneurs
Work in Riga was developed by professional personnel management and development agency “ERDA”. Company founder Zane Chulksten says: “There will be something that can attract and retain employees. Estonia realized this already 20 years ago, Lithuania – 10 years ago. Latvia will tackle this issue only this year, but Riga is leading the way and setting an example by helping Riga-based companies with information and marketing to attract foreign and diaspora talent. As a first step, this is very welcome.”
The company “Printify” also participated in the development of the platform. “We highly appreciate Riga’s initiative to create a platform that allows potential workforce from abroad and Latvian employers to find together valuable information on aspects affecting the employment of foreign talent in Latvia. The platform will be a valuable knowledge base both for those employers who have already gained experience in employing foreigners, and for those who are still planning to do so. “Printify” is headquartered in Riga, but we are proud that our team consists of outstanding talents from 28 countries. I am happy to be part of this project and share my knowledge and experience with others,” says Anda Zubovska, Head of Personnel Mobility and Process Quality at Printify.
Workcation – a modern form of investment attraction
In order to attract foreign companies to Riga, as well as to develop and positively influence the city’s economy and business, a work vacation or Workcation program was launched at the end of 2022. As part of the program, participants can not only work and live in Riga, but also get to know the city’s opportunities, local work ethic, people and environment. Working holidays are becoming more and more popular under the influence of several factors: it provides the opportunity to work remotely, as well as the desire of entrepreneurs to balance private and work life. The Workcation program is a relevant and necessary solution for attracting new investments today.
Considering the great interest, the program has been made more accessible. Companies applying for the Workcation program this year must have a turnover of at least 5 million in 2022, must not have a registered structural unit in Latvia and employ at least 25 employees. The company that qualifies for the set requirements will receive a plan personally developed and adapted to specific needs, which, if necessary, will include a meeting with the management of the Riga City Council, opinion leaders, as well as with companies in a similar industry. More information about the program and its application
ma form is available here.
The Riga Investment and Tourism Agency, founded in April 2021, has now grown to a strong team of thirty people, covering the areas of investment, tourism and Riga’s international positioning, with the main emphasis on improving business, the climate of the business environment and attracting foreign direct investment. It is planned that the “Live Riga” agency will create and implement new specialized support mechanisms for global business services in 2023, supporting the creation of well-paid jobs.
