Norwegian Statoil Fuel&Retail (SFR) to open service center in Riga

 
Statoil Fuel&Retail has chosen Riga for developing a financial shared services center to service the entire Statoil Fuel&Retail Group. The financial services center is going to take care of the group's accounting transactions, financial control and human resources services. The financial services center will create dozens of new jobs. The development of the project will start in the near future.
 
Statoil already has its international fuel supplies planning center in Latvia. From Riga all fuel supplies to Scandinavia and the Baltic countries are being planned. Besides the fuel supplies planning center in Latvia, Statoil has its financial planning center in Estonia. The next step is the development of an internal service center in Riga.
 
After evaluating several cities - Tallinn, Riga, Vilnius and Warsaw – the decision was made for Riga because it offered the most effective results and also because of the help provided by the Investment and Development Agency of Latvia (LIAA) in explaining to the Scandinavians the advantages of choosing Latvia.
 
The Ministry of Economics of Latvia alongside the Latvian Investment and Development Agency (LIAA) has developed a new strategy to promote foreign direct investment in Latvia and it is called the POLARIS process. The POLARIS process is an investment strategy focused on the economic growth and development of Latvia. The strategy is based on the alliance between the public sector including national and local governments, the private sector covering national and international companies, investors willing to invest in Latvia, and finally, major Latvian academic institutions incorporating the main universities and research institutions.

Click here to read more about this smart approach to investments in Latvia 

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