Cabinet of Ministers Regulations No. 203 in Riga on 18 July 1995 (No. 38, 7. §) Latvian development agency Issued by the constitutional provisions of article 81 1. in accordance with the procedure laid down in these rules, the terms comply with the law "on foreign investments in the Republic of Latvia (Republic of Latvia Supreme Council and Government Informant, 1991, no. 46;/11.nr.; 1993, 10. Latvian journal, 1994, nr. 75; 1995, nr. 47) explanation of terms used.
2. in accordance with these rules of the Latvian Development Agency (hereinafter: "the Agency") to promote the development of the Latvian economy, attracting foreign investment, promoting exports, suggesting proposals attract investment and export promotion projects, as well as representing the country in international projects related to investment attraction and export promotion.
3. the Agency's cabinet formed a national non-profit joint stock company. The Agency's Statute and amendments thereto shall be approved by the Cabinet of Ministers.
4. the Agency shall act in accordance with these provisions, the law on non-profit organizations "(the Republic of Latvia Supreme Council and Government Informant, 1992, 6./7.nr.; Latvian journal, 1995, nr. 5), the law on limited liability companies "(the Republic of Latvia Supreme Council and Government Informant, 1993, 24/25.nr.; Latvian journal, 1994, 96, no. 149; 1995, no. 6), the law "on foreign investments in the Republic of Latvia", as well as the Constitution, the Cabinet law, international treaties, statutes and regulations.
5. the Agency shall have legal personality, it is a bank account and a stamp.
6. the Agency shall carry out its tasks in cooperation with State and local institutions, as well as the undertakings (companies), and in accordance with the procedure laid down by law shall ensure the transparency of its operations.
7. the Agency shall undertake the following tasks: 7.1 take measures to attract foreign investments and export promotion;
7.2. provide the necessary information to foreign investors;
7.3. foreign investment project economic analysis;
7.4. the law "on foreign investments in the Republic of Latvia" 5. in the cases referred to in article accepts applications for foreign investors, and 6. the cases referred to in article 1 shall authorise the foreign investment;
7.5. evaluate individual foreign capital might lead the Latvian economy;
7.6. assess the impact of foreign investment on product competitiveness of Latvia;
7.7. introduce and serving the strategic relevance of the goods, products, services and technologies for export, import and transit control system;
7.8. carrying out other acts, Cabinet legislation and the statutes of the Agency tasks to attract foreign investments and export promotion.
8. the Agency shall perform the following obligations: 8.1 monitor that foreign investors will not get control over companies doing business in the sectors covered by the law "on foreign investments in the Republic of Latvia" restrictions;
8.2. analyse the impact of foreign investments to the economy of Latvia, paying special attention to the following areas: 8.2.1. job creation;
8.2.2. recasting of local supplies and services;
8.2.3. the export of local products;
8.2.4. the development of local technologies, advanced technologies, and improving the quality of production;
8.2.5. competition in the sector in question.
9. the Agency is entitled: 9.1. to request and receive, free of charge from the State and municipal institutions, State companies, public companies, State Governors of the Statistics Committee, the national property Fund, the Privatisation Agency and the business register information related to foreign investment and exports, imports and transit;
9.2. to request and receive from all undertakings (companies) information required 7.7 these regulations referred to tasks;
9.3. call in experts and conclude agreements with them to the Agency's activities related to the tasks;
9.4. create representations abroad of the tasks entrusted to the Agency;
9.5. the Agency also has other rights provided for by law and the statutes of the Agency.
10. the Agency's finance form the deductions prescribed by the Cabinet of Ministers, in accordance with the law on budget and financial management "(Latvian journal, 1994, nr. 41), the fee for the services rendered revenue from economic activities, the Fund channeled funds to attract foreign investments and export promotion, donations, as well as foreign technical assistance and other means.
11. the Agency's reserve (Reserve Fund), the excess of income over expenditure. The Agency's reserve (Reserve Fund) funds to be used only by these rules and the statutes of the agency intended function.
12. the Agency's operational strategy approved by the Cabinet of Ministers appointed by the Council of the Agency, which has been established and operate in accordance with the law "On joint stock companies".
13. the President of the Council of the Agency's economic Minister, who simultaneously performs the functions of the public trustee under the law "On State and local property management companies" (the Republic of Latvia Supreme Council and Government Informant, 1992, no. 26).
14. the Agency's Council consists of: 14.1. four members of the Cabinet of Ministers (including the Prime Minister of economy), subject to the approval of the Cabinet of Ministers at the recommendation of the Prime Minister;
14.2. the Latvian Chamber of Commerce and industry President;
14.3. the Director-General of the privatisation Agency;
14.4. the three economic Ministers invited the representatives of the host organization.
15. the Agency is headed by a Director-General that, in accordance with the Agency's Council announced the results of open competition post approved by the Cabinet of Ministers. The Director General of the Agency's decision on the dismissal of the Cabinet of Ministers adopted by the Council on a proposal by the Agency.
16. during the two months following the end of the year the Director-General shall submit to the Agency a sworn auditor in the Agency's annual report, prepared in accordance with the law on annual accounts "(the Republic of Latvia Supreme Council and Government Informant, 1992, 44/45.nr.; Latvian journal, 1995, no. 34), as well as a written report for the previous year.
17. After obtaining the opinion of the Chartered auditor on the Agency's annual report for the review and approval of the Administrative Board. After this report, together with a report on the previous year and the subsequent action plan is submitted to the Cabinet of Ministers.
Closing questions 18. the Ministry of Economic Affairs jointly with the agency within three weeks of the date of entry into force of the provisions to submit for consideration by the Cabinet of Ministers of the Agency's Statute.
19. With the entry into force of the provisions be declared unenforceable Cabinet on 7 September 1993, decision No. 8 on development agencies regulation "(Latvian journal, 1993, no. 77).
Prime Minister m. cock economic Minister j. caller