Priorities of “Rīgas satiksme” Board: ensuring quality service, restoring banks’ confidence as well as efficient and transparent company management
On February 18, 2020, Chair of the Board of “Rīgas satiksme” Džineta Innusa, Member of the Board Jānis Golubevs and Financial Director Irina Feļdmane informed members of the Saeima Public Expenses Committee that the priorities of “Rīgas satiksme” Board in the coming years will be to ensure quality service, to restore confidence of banks, as well as to manage the company efficiently and transparently.
Four types of strategic goals are set to implement these priorities:
- goals for ensuring the transportation system and good environment quality – a well-balanced transportation infrastructure and organization, while furthering the improvement of environment quality;
- goals for improving the efficiency of process operations – a modern and efficient management of internal processes, while reducing all types of risks;
- goals for efficient development of human resources and improvement of labour environment – to ensure the attraction and retaining of employees, as well as growth for achieving strategic goals;
- goals for ensuring financial stability – efficient, rational and economically sound use of funds aimed at financial sustainability.
Other priorities of “Rīgas satiksme” management include the evaluation of further participation in subsidiaries “Rīgas acs” and “Rīgas karte”, as well as the revision of “Rīgas satiksme” expenses, property composition, as well as other operating positions to decrease overall expenses.
In 2019, “Rīgas satiksme” made significant changes in its procurement organization procedure by decreasing thresholds of contract prices from which open procurement procedures have to be organized. The company has fully implemented “Procurement Guidelines for Public Service Providers” of the Procurement Monitoring Bureau, and has put in place the procedure of organizing market research for low-threshold contracts. These measures ensure a more transparent procurement process and a wider range of contestants.
In the corporate governance line, “Rīgas satiksme” has set several regulations for its internal procedures, including the Corporate Governance Code, the Code of Ethics, and the Corruption and Conflict of Interest Prevention Policy. For these acts to fulfil their functions, they must be implemented in everyday practice as well.
The forecast profit of “Rīgas satiksme” for 2020 is EUR 5.945 million, which would be 3.5 times higher than in 2019, and the forecast turnover for 2020 is EUR 220.839 million, which would be up 9% on 2019, when the turnover reached EUR 202.534 million.
_3ab3e.png)
_d1e83.png)
