New business opportunities light up in Latvia

COMPANIES in Rotherham are being given support to do business in Latvia – one of the highest growth economies in Europe.

Rotherham Investment Development Office (RiDO) has established a collaborative partnership with Ventspil High Technology Park (VHTP).

The partnership with VHTP came about as part of RiDO’s ERDF-funded Growth and Prosperity in Rotherham (Soft Landing Zone) project, which aims to assist Rotherham companies with accessing international markets and also helps foreign inward investors who choose to locate to RiDO’s business centres.  

Amanda Parris, business development manager for RiDO, said: “We are delighted to be partnering with Ventspil High Technology Park. This new relationship will mean we can help Latvian businesses to set up in Rotherham, whilst VHTP will offer a reciprocal service by assisting our local companies with expanding their operations into Latvia.  We are very excited about what this will mean for businesses in both areas.”

VHTP is a specialist in promoting high technology industrial development in the town of Ventspil, Latvia. The organisation’s aim is to promote job creation and foreign corporate development.  A not-for-profit business, VHTP operates a business incubator, which helps to grow and accelerate start-up businesses to enable them to become financially independent. 

The project is supported financially by the European Union. It has attracted £842k investment from the ERDF as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme 2007-13.