On 28 May 2026, Foreign Investors’ Council in Latvia (FICIL), in collaboration with the European Investment Bank (EIB) Group Riga Office, the Investment and Development Agency of Latvia (LIAA), and the German-Baltic Chamber of Commerce (AHK), RTU Riga Business school (RBS), organize the pan-Baltic forum “Beyond Borders: Investment & Innovation in the Baltics”. The event aims to present new findings on the investment climate and innovation potential of Estonia, Latvia, and Lithuania, highlighting key innovation-driven investment opportunities, and to discuss how to boost competitiveness of the Baltics. Central question – will the Baltics seize the moment to compete at the next level, or will structural barriers hold them back?
In 2025, FICIL has held the first pan-Baltic forum to discuss the investment climate, security and regional collaboration between Estonia, Latvia, and Lithuania. During the event, the foreign investors emphasized that each Baltic State would benefit from stronger regional collaboration, especially in the areas of defence, energy and environment, science, technology and innovation. It would help to reduce costs, launch strategic regional initiatives to boost competitiveness, enhance influence by speaking with one voice at European and international forums, improve knowledge sharing, help to attract skilled labour and investment to each Baltic State, as they would provide access to a larger regional market, characterized by strong collaboration, synergies and mutual support mechanisms. Ultimately, the foreign investors called the policymakers to recognize that “the outsiders”, including foreign investors, perceive the Baltic States as a single region, which is their underutilized strength, and invited to put aside a competitive mindset to boost the Baltics brand.
The message of the foreign investors was met with understanding and support by the ministers of economy of the Republic of Estonia, Latvia and Lithuania. Moreover, the event marked the beginning of a new chapter for regional collaboration, as it was the first time when the ministers of economy of the three Baltic States have met, and it led to a series of discussions and agreements for stronger pan-Baltic collaboration.
This year, the focus shifts to what the region could become if it untapped its investment potential through innovation. The Baltic States have what most of the world is looking for: stable and well-functioning democracies, resilient and agile economies, well-educated, English-speaking and digitally advanced societies, excellent infrastructure, strong research base, and a collaborative mindset. Yet the region is punching well below its weight. Fragmentation between three small markets, regulatory bottlenecks, and a persistent gap in scale-up capital are holding back what could be one of Europe’s most dynamic innovation corridors. The forum aims to turn that diagnosis into action, with concrete policy recommendations and a shared roadmap for pan-Baltic, innovation-driven growth.
Three new studies, presented for the first time at the forum, will put hard numbers behind the debate: AHK’s Business Survey on what drives corporate investment and innovation decisions, FICIL’s Sentiment Index on investor confidence and innovation ecosystems across all three Baltic States, and a joint EIB-LIAA report on closing the financing gap for Latvian start-ups. Together, they offer the most comprehensive snapshot to date of where the Baltics investment and innovation stand.
The event will bring together around 250 Baltic and European policymakers, foreign investors, researchers, innovators and entrepreneurs, representatives of key financial institutions and Nordic partners. Reinhold Schneider, CEO at SCHWENK Northern Europe and FICIL Chairperson of the Board, together with Latvia’s Prime Minister Evika Siliņa will open the forum with a keynote on competitiveness of Latvia and the Baltics, followed by Paulina Brzezicka, Head of the EIB Group Riga Office. The event will include research presentations, high-level panel discussions and press conferences.
Among the speakers are listed: Jean-David Malo (Director ‘European Research Area (ERA) and Innovation’ at Directorate-General Research and Innovation at the European Commission), Marjut Falkstedt (Chief Executive at the European Investment Fund), Viktors Valainis (Minister of Economics of the Republic of Latvia), Liisa-Ly Pakosta(Minister of Justice and Digital Affairs of the Republic of Estonia), Darius Zailskas (Vice-Minister of the Economy and Innovation of the Republic of Lithuania), Ieva Jāgere (Director General at LIAA) together with representatives of investment and innovation agencies in Lithuania and Estonia, Kristine Kozlova (Head of Unit, Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs at the European Commission), Anna Lindén (Governing Board Member, European Institute of Innovation and Technology), Julia Jacoby (Deputy Chief of Mission at the U.S. Embassy in Latvia), Nina Hvid Enevoldsen (Director of the Nordic Council of Ministers’ Office in Latvia), Tomas Kairys (Head of Baltic States at the European Bank for Reconstruction and Development), Igors Kasjanovs (Senior Economist at the Nordic Investment Bank), Robert Grundke (Senior Economist at the Economics Department of the Organisation for Economic Co-operation and Development (OECD)) and many others.
In addition, an event exhibition hall will showcase scientific and technological achievements of Baltic innovation stakeholders, from prototypes and new products to research visuals and organisational profiles. The hall will be open throughout the networking sessions, designed to stimulate new partnerships between the policymakers, foreign investors, researchers, innovation, entrepreneurs and financial institutions.