On April 12th, the FICIL Board met with the Prime Minister of the Republic of Latvia, Ms. Evika Siliņa, to discuss the investment climate, human capital, reduction of the administrative burden, and measures to stimulate a fair market competition.

During the meeting, participants discussed the necessity of implementing a coherent and comprehensive human capital strategy to enhance the quality and availability of skilled workforce, which is critical for economic growth and sustainability of investment. The FICIL Board highlighted the need to develop a clear roadmap for the human capital development and to determine one public entity that can streamline all implementation processes, thereby ensuring accountability over the implementation of the human capital strategy.

The Prime Minister outlined the government’s newly adopted plan aimed at reducing the administrative burden in the real estate sector. This initiative is designed to support the real estate projects from inception to completion, ensuring a faster, more convenient, and harmonised development process. FICIL thanked the Prime Minister for taking the first steps to reducing the administrative burden in the areas of construction and real estate development.

Additionally, the discussion focused on measures to stimulate a fair market competition, as well as, efficiency and innovation of the state-owned companies. Ms. Evika Siliņa informed the investors about the government’s decision to move toward listing the shares of state-owned companies on the stock exchange.

The participants of the meeting agreed on the importance of strengthening collaboration between the Latvian government and the foreign investors. FICIL remains committed to supporting the government in improving the investment and business environment in Latvia.