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AmCham calls for a focus on economic security

Dec 04, 2023

On December 4, AmCham launched its recommendations "Increasing investments and competitiveness for Latvia’s economic security". 

Following the formation of the new government, AmCham updated its policy documents from last year on how to increase the nation's competitiveness and attract more U.S. and Western investment.

AmCham President John Tully said: "At a time of unprecedented geopolitical change and disruption, it is of utmost importance to focus on securing existing and attracting new investments in order to overcome the expected economic downturn, increase national competitiveness and external security. As the voice of international business, we look forward to working with the new government and other stakeholders to reach our common objectives for a more competitive and prosperous Latvia."

In a difficult geopolitical environment, Latvia's priorities are undoubtedly to increase investments in security and defense, however, ensuring economic security is equally important for Latvia’s national security and future economic growth. Maintaining existing and attracting new investments from key strategic partners such as the United States is essential, which is why AmCham continues to speak to a sustainable and transparent business environment and strong human capital.

In the context of its recommendations, AmCham has been engaging with Ministers, Members of Parliament, and key stakeholders on an ongoing basis. Ensuring Latvia's competitiveness and strengthening its human capital is essential in securing the future of FDI in Latvia.

As an organization representing industry leaders from a variety of sectors, AmCham is committed to working closely with Latvian policymakers and stakeholders on these issues to support both AmCham members and new U.S. investors, thus ensuring Latvia's economic security and the well-being of the population.

To view the recommendations in English and Latvian

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We re-affirm our commitment to the values that AmCham stands for and that we share.

Kārlis Danēvičs, Board member, Head of Credits and Risk at SEB Banka

We are very pleased to be part of AmCham and are looking forward to driving innovation forward in Latvia.

Mikko Fernström, General Manager, Biogen Latvia