Our History

Foreign Investors Council in Latvia celebrated its 10th anniversary in 2009. In order to mark this occasion, FICIL published a book looking back on 10 years of FICIL activities and its presence in the country. It is with great pride that we look back at ten years of dramatic changes, both for Latvia and the way we work within FICIL.

Our Mission

FICIL's mission is to improve the business environment in Latvia through active dialogue with the government. We work to advise in a transparent manner the Latvian government on areas to improve the investment climate so that it benefits all investors.

Our routines

Work Groups

Drawing on their experience of running a business in Latvia, FICIL members identify areas for improvement and issues generic to the particular industry or the entire business community. Based on these and pending members acceptance it is decided to establish Work Groups to develop recommendations and solutions to improve of the investment climate in the country. FICIL members, including the participating chambers of commerce, delegate their representatives to contribute. While working on solutions, the groups follow the work of public bodies, invite and welcome discussions with the decision makers. FICIL encourages follow-up of Work Group activities; group members represent the position in various discussion forums, such as the Cabinet of Ministers, the Parliament, media etc.

Executive Board

Members elect the Council's Executive Board comprised of eight Board Members who are elected for a two-year term. Members of the Board represent the Council jointly, while it is often the officers of the Board - the Chairperson and two Vice Chairs - who speak on behalf of the Membership in public events and meet with dignitaries.

Every year FICIL Members elect four new Members of the eight-strong Executive Board of the Council. A team of executives, the Board meets monthly and has an active role in the Council's daily work.

Members

Every month FICIL Members convene at the General Membership Meeting. In addition to considering a variety of organisational issues, the meeting often welcomes guests and pundits to share their expertise and opinions.

High Council Meetings

FICIL meets annually with the Government of Latvia in High Council meetings. The High Council is represented on one side by the CEO's from each FICIL members' parent company, and on the other side by Latvian Ministers and high civil servants. The meetings are jointly chaired by the sitting Prime Minister of Latvia and the FICIL Honorary Chairman who is elected by the High Council from the representatives of Members parent companies. They represent and preside over the meeting jointly with the Prime Minister.

Ficil office

FICIL's mission is to improve the business environment in Latvia through active dialogue with the government. We work to advise in a transparent manner the Latvian government on areas to improve the investment climate so that it benefits all investors.