On 17 September 2025, the Foreign Investors’ Council in Latvia (FICIL) held its Members’ Meeting at the offices of Bite Latvija. The event brought together corporate and associate members as well as representatives from embassies, and policymakers.
As part of the agenda, Latvia’s Minister of Finance, Arvils Ašeradens, presented the government’s planned structural reform of the public procurement system. Mr. Ašeradens acknowledged that the current framework has become overly complex, with insufficient competition, limited flexibility, and outdated IT tools. The Minister underlined the importance of returning procurement to its original purpose- delivering efficiency, transparency, and value for taxpayers, instead of being weighed down by bureaucracy and political layers. Please find the full presentation by Mr. Ašeradens, HERE.
Presentations also focused on one of the most pressing issues in the procurement field- below-threshold tenders, often referred to as the “blind spot.” In many sectors, almost all procurements fall below the threshold, creating high risks of favouritism and corruption, limiting competition, and leaving suppliers’ rights insufficiently protected.
Following the presentations, FICIL members joined in a mini workshop to reflect on two central questions: “What are the main challenges in procurement?” and “How can we strengthen trust and transparency?” The meeting also provided an opportunity to review the latest updates from the recent strategy session and to exchange ideas on possible topics for the upcoming High Council.
FICIL warmly welcomes two new members
During the meeting, FICIL announced the results of the vote on new members. Two organisations have now joined FICIL.
Among the new members is Philip Morris Latvia (PML), one of the largest taxpayers in Latvia’s trade sector and an affiliate of Philip Morris International. PML markets global brands such as Marlboro, Parliament, L&M, and Chesterfield, and in 2018 it introduced the innovative tobacco heating system IQOS to the Latvian market.
Also joining is the Canadian Chamber of Commerce in Latvia (CanCham), an organisation dedicated to strengthening business ties between Canada and Latvia. CanCham collaborates closely with both countries’ embassies and partner organisations to identify opportunities, support joint projects, and foster commercial cooperation. FICIL warmly welcomes CanCham and looks forward to developing new opportunities together.
Looking ahead: High Council 2025
The FICIL Chairperson of the Board, Reinhold Schneider (CEO of SCHWENK Latvija), announced that the 29th FICIL High Council will take place on 30–31 October 2025. This annual event remains the central platform for strategic dialogue with the Latvian government, where investors’ recommendations are presented at the highest political level.
Additionally, on 30 October, as part of the High Council, FICIL will host a Networking Dinner at the Radisson Blu Ridzene Hotel. As in previous years, representatives of FICIL member organisations and work group leaders are warmly welcomed. For the first time, however, members of our Chambers of Commerce are also invited to participate for an additional fee. The Dinner will provide a unique opportunity to engage in lively discussions with foreign investors and public sector officials.