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FICIL highlights: Higher education reform adopted

Jun 22

Foreign Investors' Council in Latvia (FICIL) is one of AmCham's closest advocacy partners. You are invited to take part in one of its many working groups. If you are interested in taking part in any, please sign up here. Two of them are scheduled for:

June 30 at 11:00 - Labor issues work group meeting
July 1 at 8:00 - Green economy development work group meeting

FICIL High Council
High Council meeting on September 16-17 will focus on key areas: human capital, green economy development, digitalization, and rule of law is scheduled. The High Council meeting is an annual event intended to facilitate a top-level discussion forum between foreign investors and the Government of Latvia. The event will be in compliance with all relevant regulations regarding the epidemiological situation in the country at the time of the High Council meeting.

Higher education reform adopted in Saeima
On June 8, a significant milestone was reached as the Higher education reform was adopted in Saeima’s third reading. The reform includes the introduction of councils within state higher education institutions. As the majority of each council will consist of independent high-level experts, it is expected that the councils will help the institutions to create and employ a thorough long-term strategy that would match the market needs and the goals of the institution.

Research and discussion on sustainability
FICIL, together with KPMG Latvia, has published a study on the readiness of businesses and public administration for the European Green Deal. Various foreign investors and local companies participated in the study outlining their approach to sustainability, cooperation among public and private sector to reach green targets as well as the upcoming challenges companies, public sector and society as a whole will face regarding this topic. The results of the study were presented during a discussion

Alvis Ērglis joins FICIL's Executive Board
Alvis Ērglis, Director of Sales of the fuel & retail company Circle K Latvia, has been elected to take the vacant position as a FICIL Executive Board member and to serve on the Board for the remainder of Gunta Jēkabsone’s term – until spring 2022.  Mr. Ērglis has obtained a Master’s degree in management and economics from the University of Latvia. He has held several senior management positions in different companies across various industries, where he has been responsible for sales and new product development.

Latest work group meetings
On 25 May, FICIL held an online meeting with Mr. Daniels Pavļuts, Minister for Health. Mr. Pavļuts outlined the Ministry’s outlook on the current state of the Covid-19 pandemic and highlighted the key challenges that the country faces at the moment. The Minister also presented the new Digital Health project. Meanwhile, FICIL representatives voiced their concerns regarding sick leave certificate issuance and the quality of mandatory health examinations.

FICIL Tax Policy & Administration work group has established a strong cooperation with the Ministry of Finance. Two meetings have already taken place where the work group members and Ministry officials discussed transfer pricing, the use of international financial reporting standards, and the issues related with these.

The Food & Drink Industry work group held an online meeting with the Deputy State Secretary of the Ministry of Environment Protection and Regional Development, Ms. Alda Ozola. Participiants discussed single-use plastics and natural resource tax, giving company representatives better grasp over the upcoming changes in related legislation.

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