As the year 2017 is getting closer to the finishing line, we would like to thank everyone for contributing to the FICIL’s work! We are proud to have eleven active work groups this year with ambitious and motivated work group leaders, we are also happy to have five new members joining FICIL membership in 2017 and we are lucky to have an efficient and forward looking executive board members. Thank you all and we look forward working together with you in 2018!

FICIL Sentiment Index 2017 – 10 January 2018

On 10 January 2018, the third FICIL Sentiment Index report will be officially launched and presented by Dr Arnis Sauka, SSE Riga Associate Professor. You will hear how do foreign investors assess the business environment in Latvia – what are the key areas of concern and what are the necessary improvements, is there a progress? The presentation will be followed by a high-level discussion focussing on the steps that policy makers are willing to take to improve the attractiveness of the investment environment in Latvia and how can we work together to build long-term competitiveness and mutual trust. Detailed program for the event is available in FICIL webpage.

Update from FICIL Work Groups

Labour issues work group

One of the topics of the December meeting was re-emigration – does it currently work, are there many real life examples of people coming back and finding adequate work, how do employers can get involved and contribute. Mr Jānis Kreilis, manager of the NGO “Ar pasaules pieredzi Latvijā” shared his views and experience. Also in focus – progress regarding the amendments to the Labour Law (Article 68, Article 110 and others). The work group members also discussed and agreed the main topics for the position paper.

Investment protection and court efficiency work group

In December, the group focussed on the issue of quality of the legislative process – a topic that has been included in FICIL position papers repeatedly. The work group met with the advisors from the Chancery of President of Latvia to learn more about the President’s initiatives in this area and explore opportunities for future cooperation. Photo.

Economic and financial crime work group

The work group continued to discuss the creation of a platform for deeper cooperation between public and private sector for the purposes of fighting efficiently against economic crime. The group discussed several examples of successful and less successful cooperation between public and private sector so far and what needs to be changed. It was agreed that some statistics and background should be compiled that could represent the impact of economic crimes to national economy (currently not available).

OECD coordination work group

OECD co-ordination work group meet at the MFA on 4 December. Purpose of the meeting was to provide briefing on what has been done in the public sector to implement OECD recommendations. Main fields covered digitalisation, rule for law, education, productivity of labour force and healthpolicy.

And last but not least – best wishes from FICIL team for Happy Holidays and a magnificent New Year!