Due to members' requests, an introductory meeting to explore the topic of Digital Affairs and AI was held on January 30. Members from various industry sectors discussed how to better address the benefits of the digital economy and AI. The group will be led by AmCham Board member Sarmis Spilbergs. All interested members are welcome to join the Work Group by contacting the AmCham office.

On January 29, AmCham Board and Staff came together for a semi-annual strategic meeting to discuss the Chamber's direction and priorities for 2024. The policy priorities will include: 1) Fostering trade and investment between Latvia and the U.S., and promoting Latvia as a U.S. investment destination to foster Latvia's economic security; 2) Improving the business and investment climate in Latvia; 3) Enhancing Latvia’s human capital with a focus on upskilling, the future of work and talent attraction as well as supporting Latvia’s healthcare policy improvements based on international best practices and innovation.

On January 18, the AmCham Tax work group met to discuss amendments necessary in the regulatory framework to balance the tax burden for private foreign investors. The group also discussed the review of the CIT system and decided to submit their proposals to the Ministry of Finance.

On January 16, Luminor Bank invited members to the Business After Hours at their premises with an inspiring keynote presentation by Peteris Strautins, Chief Economist of Luminor Bank in Latvia on the economic outlook for 2024. Members were welcomed by Kerli Vares, Head of Luminor Bank in Latvia. According to Peteris, "Annual average inflation will be close to zero, and prices for goods will generally fall, while prices for services will rise. Since the majority of economically active people are wage earners, the forecast for changes in their well-being for the coming year is favorable. The expected decrease in Euribor interest rates, which has already started, also offers hope."