Members enjoyed January networking event and educational presentations on the new tax system and its impact on corporate philanthropy and social responsibility. The event was kindly hosted by our long-term member Ellex Klavins.

The AmCham Board held its semi-annual retreat to discuss the strategic direction for the coming year. Among key priority areas are the enhancement of transatlantic trade and investment through further development of "Gateway to the USA" program; attracting international talent and promoting Latvia as a career destination, and continuing work to improve the business and investment climate with a focus on the new Whistleblowers' Law introduction and monitoring the progress of the Latvian financial sector.

Look out for the survey coming your way in the next weeks. Our Labor Force Working group has developed a survey for members to gather your experience of attracting employees, both domestic and international. At the last meeting, the Working group reviewed survey questions and engaged in a discussion with the representative of the Ministry of Economics on labor market trends.

A group of members met to discuss their businesses and to provide feedback on AmCham activities. Developing a program offering educational opportunities for both personal and professional development and promoting Latvia as an investment destination for R&D and innovation were identified as some of the priorities AmCham should focus on in the future.

Our first business luncheon of this year featured Mārtiņš Kazaks, Member of the Council of the Bank of Latvia who gave a short overview of macroeconomic conditions and growth prospects for Latvia projecting GDP growth at 3.6% this year.

On January 25, AmCham sent letters to congratulate the newly elected government officials, including the Prime Minister, Ministers of Justice, Finance, Economics, Education and Health emphasizing the government's priority to improve the financial system and ensure implementation of the Moneyval recommendations.

To highlight and promote entrepreneurship, research-driven innovation, and closer economic ties between Latvia and the United States, the Baltic American Freedom Foundation, AmCham Latvia, and the U.S. Embassy in Riga, together with TechHub Riga and the Latvian Startup Association , hold the 2nd Annual Latvian-American Innovation Award. The winner will receive 10,000 and a runner-up 5,000 Euro. Applications are due by February 21, 2019.

We are looking for sponsors who would like to support two of our upcoming events: Latvian-American Innovation Award and Joint conference on the Whistleblowers Law by either a financial or in-kind contribution. Please contact the AmCham office for more information.

The results of the FICIL Sentiment Index 2018 study suggest that the investment attractiveness of Latvia, according to the viewpoints of foreign investors, has remained the same as compared to the situation one year ago scoring 2,5 points out of 5. Main concerns identified in the business environment include corruption in the public sector, availability and quality of labor, efficiency of the public sector.

FICIL calls to participate members interested in contributing to the new Accounting Law on February 12. If you would like to join the meeting discussing the draft law, please sign up: here

IIZI Brokers has joined the Chamber in January. IIZI is one of the largest insurance mediators in the Baltics offering high quality brokerage services to customers through an online self-service environment as well as personal solutions. We warmly welcome them to the AmCham community!

Giraffe360 has just secured €1.1 million in its second funding round led by Change Ventures and moved its headquarters to London despite the uncertainty related to Brexit. Since 2016, the startup has developed the highest quality property presentation technology in the world, delivering 270 megapixel resolution photography offering 3D virtual reality tours of real estate.

Microsoft has signed a contract with the US army for 480 million USD and for delivering 100,000 "hololens" VR headsets to be used as an educational instrument, letting the soldiers participate in virtual conflicts before gaining the real life experience.

COBALT is recognized as No. 1 Baltic law firm in the CEE region by the number of deals advised in 2018, according to M&A reviews presented by the international business news agency Mergermarket. In addition, Europe's leading legal magazine "The Lawyer” shortlisted COBALT for the Baltic Law Firm of the Year Award 2019.

Post available positions within our Careers & Jobs section. This time-saving recruitment advertisement opportunity is available to our members at no cost. This section is also designed for candidates looking for jobs or internships within AmCham member companies.

Thomas J. Donohue, President & CEO of the U.S. Chamber of Commerce delivered the U.S. Chamber's annual State of American Business Address, emphasizing the importance of international trade, including essential ties the U.S. has with Europe.

January, 2019

Welcome to our latest newsletter. This year kicked off with an impressive list of programs. Martins Kazaks, Council Member of the Central Bank addressed members during the first luncheon in 2019. We held a Member Focus Lunch to discuss members' businesses and gather feedback. The Labor Force working group meeting offered an insight into the labor market trends by the Ministry of Economics. The Annual Latvian-American Innovation Award was announced. Ellex Klavins offered a topical discussion on the impact of the tax reform on corporate donations. We have various exciting events in stock for you in the next months. Click on the links below to register!

Upcoming events

Feb 21, 2019

from 17:30 till 21:00

Mar 07, 2019

from 11:30 till 14:00

Mar 21, 2019

from 18:30 till 21:00

Mar 28, 2019

from 13:30 till 17:30

Special Offers

The Self Managing Leadership program: 19-21 February

Voucher for 100 EUR from Latvia Tours

The 2019 Masquerade Ball: Four Seasons - February 16

Valentines Day at Grand Palace Hotel - February 14