On February 10, AmCham hosted an online meeting with Krisjanis Karins, Prime Minister of Latvia, who outlined potential post-crisis development scenarios for Latvia, further steps to foster Latvia's competitiveness and addressed current issues such as the energy crisis, reforms in education and healthcare as well as the immigration policy.

During the meeting, the challenges that are faced by investors, including the energy crisis, ongoing reforms in education and healthcare, were discussed. According to the Prime Minister, the post-crisis development scenario includes support for entrepreneurs to recover from the crisis and the transformation of economy through employment, increase of productivity and digitalization.

The Prime Minister also mentioned a significant increase of state support in amount of 32% for R&D and innovations and a 100 million euro investment fund to increase the productivity of exporting companies. As the energy crisis has fueled the need for sustainable energy sources, the Ministry of Economy will coordinate the implementation of fast-track wind energy generation.

Prime Minister Karins said: “The international competitiveness of Latvia is one of the most important issues the government is focusing on. That has paid off – last year saw the highest levels of foreign direct investment reaching its highest level in recent years with over 600 million EUR. Our aim is to increase the incoming investment even more by consistently continuing to improve our business environment.”

John Tully, President of AmCham Latvia: “We recognize the speed and complexity at which the government has been obliged to make decisions in response to the pandemic, social and economic crisis, and appreciate the leadership of the Prime Minister under these difficult circumstances. We believe that along with the public sector, the private sector has an important role to play in the economic recovery and we are pleased to engage in a dialogue with the government on how we can work together to address the major challenges in order to improve Latvia’s economy and, ultimately, the wellbeing and prosperity of its citizens.”

We are greateful to Vladlens Kovalevs, Managing Partner of VA Government for moderating the discussion and a public affairs firm VA Government for supporting it.

Moderator: 
Vladlens Kovalevs is a managing partner at the public affairs firm VA Government. Vladlens provides counsel to his clients on political, regulatory, and public issues connected to their respective advocacy efforts. He has been involved in the assistance of multiple businesses in the tech, financial, FMCG, pharma, and renewable energy sectors. His specializations include government relations and campaign management.
 

The event is open to AmCham members. Admission is complimentary, but registration is mandatory. Instructions about how to join will be sent directly to those who have registered.

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