Newsletter

Economic outlook: learning to live without inflation

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." Read more

The role of investment in boosting economy

In the first speaker event of 2024, AmCham members met with Viktors Valainis, Minister of Economy to discuss his ministerial priorities and ways to improve the business and investment environment in Latvia. Members had the opportunity to ask their questions and take part in a lively discussion on what can AmCham do to support the Minister's priorities. The discussion was moderated by Ieva Racenaja, AmCham Vice President. Read more

The State of American Business is optimistic

In this year’s State of American Business keynote address, U.S. Chamber President and CEO Suzanne Clark outlined the benefits of free enterprise in an optimistic speech at Chamber headquarters in Washington, D.C. on January 11. The State of American Business 2024 promotes the innovation and impact of America’s free enterprise system that enables businesses to serve customers, solve problems, and strengthen society. The event drew a virtual audience of more than 10,000 people from around the world. Read more

AmCham Board sets the course

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. Read more

AmCham representatives meet with the Bank of Latvia

On January 23, AmCham Board and Work group representatives met with Vice President of the Bank of Latvia, Head of AML Department and representatives of the Ministry of Finance and Finance Latvia Association to discuss the current developments in the financial sector, access to banking services and the business and investment environment. Read more

Tax work group meeting

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. Read more

Digital Affairs and AI work group meeting

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. Read more

Healthcare work group meeting

On January 30, the AmCham Healthcare work group convened for its first meeting of the year. The group discussed its priorities for 2024 - sustainable healthcare financing models, digital health implementation, precision medicine development, and Value-based medical procurements. The next meeting will take place on March 4. Read more

Care Mobile contributes to children's health in Latvia and supports Ukraine

In 2023 the Children's Mobile Health Care Center of Ronald McDonald House Charities Latvia has provided 5,198 free medical consultations for 4,201 children in 40 different regions of Latvia, as well as 17000 consultations to people in Ukraine. 
The RMHC Latvija Mobile Health Care Center ("Care Mobile") provides free medical services for children in Latvia in partnership with the Children’s University Hospital (BKUS). The "Care Mobile" program has the advantage of the ability to transform and expand the existing range of services, by offering specialist care, which takes into account the most urgent needs.  Read more

Luminor donates €14 000 to Dod Pieci

For the tenth year in a row, Luminor is supporting the charity marathon "Dod Pieci" (High Five!). This year they have donated 14,000 euros to give children and young people the opportunity to escape from an unfavorable environment and provide assistance to create a better and safer future. From December 1 to 21, the bank invites everyone to donate by exchanging a song to play on www.dodpieci.lv. As usual, the songs will be played on Latvijas Radio 5 and on pieci.lv during the charity marathon. Read more

Meet our new staff member

Olena Babushkina has recently joined our team as an Office Manager and is ready to add her ideas, expertise and energy to AmCham Latvia. Olena brings with her expertise across various areas, including bilateral relations, administrative procedures, project management, and media coordination.  Read more