May 30-31 the Foreign Investors Council in Latvia (FICIL) held its annual High Council meeting with Latvia's government to discuss the latest developments in Latvia's economy. FICIL submitted 5 position papers with recommendations on Latvia's macroeconomic and tax policies, court efficiency, energy, transport and waste management. The Chamber was represented at the meeting by AmCham president Ivars Slokenbergs and board member Arnis Kakulis.

Regarding the priorities of Latvia, it was recommended to implement strict measures to reduce the share of the shadow economy. FICIL also advised to act against any discriminatory or detrimental regulations towards specific business groups or honest entrepreneurs.

Foreign investors emphasized the importance of education quality, pointing out that it is a precondition for sustainable economic growth.

Furthermore, FICIL pointed out that transport infrastructure improvements will have a quick and positive impact on Latvia's economy. However, that regards the development of the capital market, Latvia was advised to actively continue corporate reforms in state and municipal companies, improving their competitiveness.