Latvia’s centenary celebration has passed and while we are still anxiously waiting for the formation of the new government, FICIL has continued to target focal issues in line with improving the overall investment climate in Latvia.

FICIL Members’ Meeting

FICIL has organized an end-of-the-year treat. On 17 December at 16:00, FICIL is going to hold a members’ meeting at ALTUM (Doma laukums 4). Feel free to sign up and attend the event, there will be a chance to rub shoulders with eminent representatives from the Bank of Latvia – Mr Mārtiņš Kazāks and Mr Andris Strazds. Our distinguished guests will also inform participants on the selected global economic trends and what they mean for Latvia. FICIL will also give an update on relevant activities taking place anticipating FICIL’s 20th Anniversary.

FICIL Sentiment Index

The last interview for the FICIL Sentiment Index 2018 research project took place in the beginning of November. Currently, Dr Arnis Sauka is in the finishing stages of creating the report and the focus is on the FICIL Sentiment Index launch event taking place on 9 January 10:00 at SSE Riga. More information coming soon.

Opportunity to meet with Ms Catherine Trautmann

The Transort work group will hold a meeting with Ms Catherine Trautmann, who is the European Coordinator for TEN-T North Sea-Baltic Corridor to discuss the European Commission’s view on the Rail Baltica project and potential changes in the investment climate for Latvia through a project of this magnitude. If you are interested in participating, please contact the FICIL office, we can provide more details on the event.

Update on work groups

Labour force issues work group co-leaders Irina Kostina and Andris Lazdiņš are actively continuing their fight to improve the workforce environment in Latvia. As we all know, the outgoing Saeima passed amendments to the Labour law, that included changes in overtime pay and language requirements. FICIL was vigorous in asking the President of Latvia to hand the amendments back to Saeima for a second review, which happened in mid November. The Social and employment matters committee of the Saeima will repeatedly discuss the proposed amendments in December.

Economic and financial crime issue work group is holding a meeting on 7 December 9:00 with high level representatives from the Economic Crime Bureau of the State Police (ENAP), Corruption Prevention and Combating Bureau (KNAB) and the State Revenue Service (VID) to discuss the latest regarding economic and financial crimes.

Transport issues work group met with Mr Kaspars Briškens, head of development at RB Rail, to discuss pro-active and forward-looking commercialization of the Rail Baltica project.

Energy work group is focusing on the implementation of the deposit system as well as the National Energy and Climate plan 2021-2030. In this regard, Ministry of Economics organized a conference to explain the current draft of the plan. Energy work group member Dace Cīrule participated in a panel discussion on attracting investment for innovation to achieve climate change mitigation objectives, while at the same time improving competitiveness.

Digitaliasation work group has held several meetings in the last month, and have outlined the direction of the position paper, paying attention to open data, centralization of information, improvement of e-services.

If you have any questions on the above-mentioned information, please contact us at ficil@ficil.lv

Stay safe and enjoy the lovely weather.

FICIL team