Latvijas Finieris announces ambitious investment plans

On November 14 at the extraordinary general meeting of shareholders, Latvijas Finieris decided to increase the company's share capital from 89.6 to 134.5 million euros. The company has an ambitious investment plan to invest more than 200 million euros in the development of the group in order to achieve strategic goals and strengthen the company's position in the European birch plywood market.

New membership pricing

In order to sustain our high-quality services, the Board has decided to adjust AmCham membership dues. For the past five years, our dues have remained unchanged, while the operational costs have increased steadily. In order to ensure best-in-class performance in all our operations and to be able to build reserves to ensure long-term financial health, the dues will be slightly raised as of January 1, 2024. However, all existing members will be granted an early-bird fee in the equal amount of this year's dues. View the new pricing structure.

On November 7, around 50 AmCham members gathered for Meet AmCham, an annual member orientation event, which offers the opportunity to make new contacts, strengthen existing relations, raise brand visibility, and network to maximize the impact on one's business. The members who have joined AmCham over the course of the past year had the chance to make short pitches. Welcome to the following members: Amos, BaltCap, BluOr Bank, Codnity, EdTech, H2YO, Kenvue, Mitigate, Ness Latvia, Reich Montage, Swisscom DevOps Center Riga, Tech Recruitment and individual member Janis Paksis.

Reich Montage becomes a member

Reich Group, a group of companies grown up from American company Reich Installation Services founded in 1989 in Pewaukee, WI, USA to meet the expanding needs of the material handling industry, has joined the Chamber as a Corporate Contributing member. In 2022 Reich Group entered in Europe by establishment of two European companies under name Reich Montage – in Czech Republic and Latvia. We warmly welcome Reich Montage to the AmCham community!

Building an attractive investment climate to transform the economy

At the beginning of November, Foreign Investors  Council in Latvia (FICIL) members and high-level public sector representatives met as part of the 27th FICIL High Council. FICIL emphasized that in an ever-changing global landscape, Latvia must take action to cultivate an appealing investment climate that fosters economic transformation. FICIL presented its position papers with recommendations in 5 priority areas: human capital, the efficiency of public administration, the rule of law, sustainable development, and a level playing field.

Swedbank Baltics named Latvia's most valuable company

On November 2, the TOP101 of the Most Valuable Companies in Latvia 2023 has been published, created by Nasdaq Riga and Prudentia. For the second year in a row, Swedbank Baltics was awarded the status of Latvia's Most Valuable Company for the second year in a row. The biggest breakthrough of this year is AirBaltic Corporation, which has managed to increase its value by 115% this year, reaching a company value of EUR 299.82 million. 

On November 1, AmCham together with the Saeima Economic, Agricultural, Environmental, and Regional Policy Committee held an international conference on "Human Capital As Key For Economic Growth" at the Saeima to discuss ways to promote investments in Latvia’s human capital with an aim to accelerate economic growth. Parliamentarians, business representatives, and industry experts discussed various policy areas, including economy, employment, education, health, and welfare contributing to the development of human capital. Revisit the 1st panel focused on healthcare investments and 2nd panel focused on employment.

A group of members, representing various industries joined the AmCham board and staff for a Member Focus Lunch on October 30 to discuss their businesses and provide feedback on AmCham’s activities. We are grateful to Roche Latvija and AmCham Board member Rauls Velins for hosting and providing a delicious lunch!

ATU Duty Free offers to ship purchases to Omniva

ATU Duty Free in cooperation with Omniva introduces an innovative service – purchases at the airport can be shipped to any parcel machine in the Baltic states as of October 4.