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Newsletter

June 2022

 

Welcome to our monthly newsletter! This month we saw plenty of events oganized by AmCham and our partners. We met with Janis Sarts, Director of NATO Strategic Communications Center and Roberts Zile, Vice-President of the European Parliament to discuss the geopolitical security issues. Our members had the opportunity to join the presentation of FICIL Sentiment Index and the Three Seas Summit & Business Forum in Riga. Thank you to Swedbank for hosting an informative Business After Hours event with breathtaking views at its HQ!

We are getting ready to celebrate the U.S. Independence Day this Saturday and hope you will join our traditional family picnic to after such a long break. All members should have received their family invitation by now. If you haven't received your printed invitation, let us know. We look forward to seeing you on July 2nd! 

 
 

SAVE THE DATE

 
 
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Jul 02, 2022 (13:00-16:00) - Over 500 people join U.S. Independence Picnic. Read more

 
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Aug 16, 2022 (16:00-17:00) - Latest developments of healthcare projects and events. Read more

 
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Sep 15, 2022 - Sep 16, 2022 - Exchanging best practices among Baltic AmChams. Read more

 
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Sep 12, 2022 (10:00-12:00) - Pre-election debate explores vision for Latvia's future. Read more

 

 
 

PAST EVENTS

 
 

Three Seas Summit & Business Forum

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The 7th annual Three Seas Initiative (3SI) Summit and Business Forum concluded in Riga on June 21, bringing together more than 500 participants from across the Three Seas region, the U.S., Germany, Ukraine and other countries. AmChams from the Three Seas region presented a joint statement expressing full support to the region's mission to invest in the areas of energy, transport and digital infrastructure. In addition, AmChams invited stakeholders to establish a joint Executive office to raise awareness of S3I and accelerate tangible cross-country projects.  Read more

A view from the EU Parliament

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On June 17, Corporate Contributing and Corporate members joined the Thought Leaders Series event with Roberts Zīle, Vice-President of the European Parliament. In addition to discussing the topic of geopolitical security, VP Zile engaged in an open discussion about energy independence, supply chain challenges and the investment environment in Latvia and in the EU.  Read more

 

What to consider when entering the U.S. market

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On June 13, members of AmCham and the Latvian Chamber of Commerce and Industry had an opportunity to get tips on the U.S. market entry. Experts from the U.S. Embassy in Latvia, LIAA and Slokenbergs PLLC covered such topics as immigration, legal aspects of doing business in U.S. and promotion of Latvian businesses on the U.S. East Coast. In addition, Eriks Kehris of Cubed shared his story of how to start doing business in the U.S. Read more

Foreign investors view Latvia’s investment climate as average

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According to the latest FICIL Sentiment Index 2021, foreign investors rated Latvia's investment attractiveness with a score 2.9 out of 5. Investors assessed both the investment climate and policymaker efforts to improve the investment climate over the 4-year period. While investors were positive about reforms in the financial sector and higher education system, the administrative-territorial reform and the country’s tax policy, they reported the lack of progress in areas including labor force availability, effectiveness of the public sector, and a comprehensive strategy to achieve the EU Green Deal goals. Read more

 

The world will never be the same

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On June 3, Janis Sarts, Director of NATO Strategic Communications Center of Excellence addressed members on the main challenges due to the ongoing war in Ukraine, reshaping of the global order and ways to secure the formation space. He touched upon the role of strategic communications in NATO, reducing the risks of disinformation and change in cyberthreat landscape. Read more

The Baltics region continues strong growth

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On June 2, Swedbank hosted Business After Hours for AmCham members engaging them in a discussion about high inflation and other challenges that our economy is currently facing such as energy prices, disruption of the global supply chain, wage growth, and broad-based government support. Members enjoyed both excellent wine and food as well as an excellent panorama view of Riga from the 25th floor of Swedbank HQ building.  Read more

 
 

NEW MEMBERS

 
 

ATU Duty Free becomes Corporate Contributing member

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ATU Duty Free, the world leader in the Duty Free market, experienced in the operation of TAV Airports and tax-free sales outlets, with a forward vision of the modern airport operations, has joined the Chamber as a Corporate Contributing member. Founded in 1999 the company provides duty free services at over 110 stores in 7 countries across 3 continents, offering passengers 50,000 products from leading world brands at advantageous prices. In the Chamber it will be represented by Tamer Cigeroglu, Latvia Operation Director. Read more

Skaal joins AmCham

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Skaal, the U.S. design and development partner operationally based in Latvia, has joined the Chamber as a Corporate member. They bring ideas to life with innovative solutions in native apps, website development and implementation of the most elegant solutions by supporting systems for business, product flow and maintenance. Read more

 
 

ADVOCACY

 
 

Brainstorming session on employment matters

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On June 27, members held a brainstorming session with an aim to update the AmCham position "Latvia - a career destination" on employment matters at Riga Graduate School of Law. Members also touched upon topics of employment policy and labor force availability to be addressed during two upcoming events the pre-election debate scheduled for September 12 and the Pan-Baltic AmChams conference planned for September 15-16. Read more

Discussing healthcare projects

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On June 14, Healthcare work group members gathered for the last meeting before the summer break to learn about the progress of healthcare pilot projects: digital strategy, secondary data framework, VBHC approach and public health funding. Members also discussed upcoming meetings such as Pan-Baltic AmChams conference, precision medicine conference and pre-election debate. Read more

 
 

NEWS

 
 

EY Attractiveness SurvEY shows FDI investment decrease in Latvia

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According to EY “Attractiveness SurvEY Europe”, which analyzes investment data and gathers investor views, Latvia attracted 32 new foreign direct investment projects in 2021, which is 25% less than in 2020, but more new jobs have been created in these projects – 2,662. Last year’s data shows that Latvia ranks 5th in Europe in terms of the number of new jobs created per million inhabitants by foreign investment. Read more

Zero tolerance against corruption gains support

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On May 30, the first 5 companies Bonava Latvia, the Pauls Stradiņš University Clinical Hospital, Rīgas Forests, Schwenk Latvia, and the State Real Estate Agency joined Delna and CSR Latvia initiative “Zero Tolerance Against Corruption”. They will strive to introduce and promote transparency principles, anti-corruption policies and procedures as well as publicize them internally and externally. Revisit the event! Read more

 
 

EVENTS & OFFERS

 
 
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For the first time a spectacular Lviv Clarinet Quartet is visiting Riga on July 22 at 17:30 at St. Mary-Magdalene's church. All of the proceeds from this concert will be donated to buy medical equipment for the wounded in Ukraine. Read more

 
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Riga Business School offers 10% discount on the Professional MBA Program for high-performing managers. Read more

 
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Grand Hotel Kempinski Riga invites to Sunday branches served once a month from 12:30 until 16:00. The closest one on July 17, 2022 - Bastille Day Brunch. Read more

 
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Enjoy a very special offer for newlyweds and a romantic offer for couples at Hilton Garden Inn Riga Old Town. Read more

 
 

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