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.

On October 26, Kukainu team, represented by Janis Kukainis and Amy Hellkamp made their Kukaiņu Chili a winner at the 17th Annual AmCham Chili Cook-Off at Hilton Garden Inn Old Town Riga. The people’s choice award went to the Riga Graduate School of Law team for their Legally Chilly. Huge thanks to event supporters: AC Hotel by Marriott Riga, El Gringo, Indian Raja, Reaton Food and delicatessen department, Santa Maria and Ziedu Ekspresis.

Welcome the University of Latvia Foundation

The University of Latvia Foundation, a reliable safeguard of philanthropic ideas and culture, has joined the Chamber as a Non-Profit member. Since 2004, the Foundation has been providing patrons and cooperation partners with the opportunity to invest in the future of Latvia, supporting both the University of Latvia and other leading Latvian universities. The priorities of the  Foundation are to support the best students, researchers, and projects led by them, to promote the creation of a modern learning environment. A warm welcome to the Foundation!

Microsoft and Tilde supports students with hearing impairments

Tilde in partnership with Microsoft aims to advance inclusive education through automatic speech recognition solutions. In the Proof-of-Concept stage, with the support of various NGOs and schools, Tilde has paved the way for a more accessible and equitable educational experience for individuals with hearing impairments. This solution is aligned with the EU legislation related to accessibility for groups of people with special needs, thus it is also part of the RRF financing-related priorities of National governments.

Takeaways from the EU-US summit

On October 20, the President of the European Council, Charles Michel, the President of the European Commission, Ursula von der Leyen, and the High Representative of the European Union for Foreign Affairs and Security Policy, Josep Borrell, met with the U.S. President, Joe Biden, and the U.S. Secretary of State, Antony Blinken, in Washington DC for the EU-US summit to review the transatlantic partnership and areas of cooperation within the partnership. They adopted a joint statement, which includes a roadmap to underpin and further strengthen the relationship for years to come.