The Republic of LATVIA Cabinet of Ministers Regulation No. 111 (pr. No 21 4) Latvian development agency Issued by the constitutional provisions of article 81 1. the procedures laid down in these rules, the terms meet the law «on foreign investments in the Republic of Latvia "(the Republic of Latvia Supreme Council and the Government of the rapporteur, 1991, 46; 1993, 10/11; Latvian journal, 1994, 75; 1995, 47) explanation of terms used.
2. The Latvian Development Agency (hereafter referred to as «the Agency») is an independent public body that oversees the Ministry of the economy and implementing the national policy for foreign investment into the economy, the growth of export potential, as well as the international public with investment and export promotion-related projects.
3. in accordance with these rules of the Agency as a public non-profit joint stock company established by the Cabinet of Ministers. 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 «About nonprofit organizations» (the Republic of Latvia Supreme Council and Government Informant, 1992, 6/7; 1993, 20/21; Latvian journal, 1995, 5), the law «On limited liability companies» (the Republic of Latvia Supreme Council and Government Informant, 1993, 24/25; Latvian journal, 1994, 96, 149; 1995, 6), the law «On foreign investments in the Republic of Latvia», as well as comply with the Constitution, the Cabinet law, international treaties, statutes and other agency regulations.
5. the Agency shall have legal personality, it is their current accounts in banks and their stamp.
6. the Agency shall carry out its tasks in cooperation with other State and local authorities, economic operators and companies and ensure the transparency of the statutory activities.
7. the Agency shall undertake the following tasks: 7.1. prepare proposals on State policy for foreign investment and export growth potential;
7.2. provides foreign investors with necessary information;
7.3. ensure investment project economic analysis;
7.4. develop proposals for national and regional development, in accordance with the policy carried out their territorial and sectoral positioning of the country;
7.5. the law «On foreign investments in the Republic of Latvia "in the cases referred to in article, the Agency shall adopt the foreign investor and in article 6 of these cases authorise foreign investment;
7.6. evaluate individual foreign capital might lead the Latvian economy;
7.7. assess the impact of foreign investment on product competitiveness of Latvia;
4.8. participate in particular in the implementation of the investment project;
7.9. the introduction and servicing strategic (military use), production of goods, services and technologies for export, import and transit control system;
7.10. jointly with the Ministry of Foreign Affairs set up an agency representation abroad;
7.11. jointly with the protection of the environment and regional development Ministry to evaluate investment environmental impact; 7.12. jointly with the Ministry of education and science promotes the involvement of foreign investments in the development of science;
7.13. other laws and Cabinet legislation in certain assignments of foreign investment and export growth potential.
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 investment in the Republic of Latvia "restrictions;
8.2. analyse the impact of foreign investment in the economy of Latvia, in particular in 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 from State and local government institutions, companies, public companies, State Governors of the Statistics Committee, the national property Fund, the privatisation Agency and register any require information related to foreign investment and exports, imports and transit;
9.2. to request and receive information from all registered companies, if you need it this rule 4.9. task referred to;
9.3. call in experts and conclude agreements with them on foreign investment impact assessment, and on the other with foreign investment-related activities;
9.4. The Agency also has other rights provided by law and the statutes of the Agency.
10. the Agency's finance form the fees for the services provided and the revenue from economic activities, the Fund redirected funds foreign investment 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. Reserve (Reserve Fund) funds be used only for the activities of the Agency.
12. The activities of the Agency in overseeing the Cabinet appointed the Board of the Agency, which has been established and operate in accordance with the law «On State and local property management companies» (the Republic of Latvia Supreme Council and Government Informant, 1992, 26) and the law «On limited liability companies».
13. the President of the Council of the Agency's economic Minister.
14. the Agency's Council consists of: 14.1. five members of the Cabinet of Ministers, which shall be approved by the Cabinet of Ministers on the recommendation of the Prime Minister;
14.2. the Director-General of the privatisation Agency;
14.3. the President of the Association of commercial banks or his authorized person;
14.4. the Latvian Chamber of Commerce and industry President;
14.5. the State property Fund, the Director-General;
14.6. the President of the Union Local.
15. the Agency is headed by a Director-General, whose Office approved by the Cabinet of Ministers, in accordance with the Agency's Council announced the results of open competition. 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 calendar year, the Director General of the Agency, submit a sworn auditor in the Agency's annual report, prepared in accordance with the law «about the company» annual reports (the Republic of Latvia Supreme Council and Government Informant, 1992, 44/45; Latvian journal, 1995, 34), as well as a written report about their years of operation.
17. the annual report of the Agency for which its opinion has given a sworn auditor, examined and approved by the Council of the Agency. This report, together with a report on the last year and the subsequent action plan is submitted to the Cabinet of Ministers and published in the newspaper «Latvijas journal».
Prime Minister m. cock economic Minister j. caller 1995 in Riga on April 22.