The World Bank, in a report on port governance, suggests that Latvia dispel the concern about transparency in port operations, tighten port chief responsibility, increase port income, improve their investment policies and logistical networks, reports Nozare.lv. The report on the competitiveness and management of the Latvian port sector was submitted to the Transport Ministry Nov. 27.
The report calls on the Latvian government to clean up transparency in port operations. Significant improvements need to be achieved in public and investor opinion about ports, by presenting detailed replies regarding the State Audit Office’s findings at the Riga Port and presenting the port’s annual reports to the general public on a regular basis, as well as by pursuing a policy of transparency, the World Bank said in a statement.
The World Bank notes that port authorities’ responsibility must be increased through assessment of the performance of the authorities and the heads thereof, as well as via regular audit inspections and making the results thereof public.
The report was requested by the Transport Ministry; it assesses the situation at the two main ports of Latvia - Riga and Ventspils - and offers recommendations to improve the ports’ international competitiveness and good governance practices.