OREANDA-NEWS. On Friday, May 31, the 17th meeting of the government and the Foreign Investors' Council in Latvia (FICIL) will be held, during which the progress on improving business environment and attracting investment will be analysed.

The participants of the meeting will also discuss the future challenges, progress made in the judicial system, energy, education and ensuring fair competition within a year.

The most important issues to be discussed by the government and investors, on which the FICIL will present this year's positions, will be macroeconomic policy and tax policy issues, including the government's future plans for tax rate changes, benefits of the previous tax rate cuts and improvement of the State Revenue Service's activities in the area of tax administration. The ministers and investors will also discuss the energy issues, for example, the possibilities to restrict the energy cost growth rate. The opportunities to promote structural changes in the waste management sector, as well as issues related to public procurements, transport and logistics will also be discussed.

Traditionally, Prime Minister Valdis Dombrovskis and Hakan Berg, Honorary Chairman of the meeting, member of Swedbank Executive Group will open the meeting. The Guest of Honour of the meeting - Dr.Christian Ketels, Principal Associate of the Harvard Business School.
 
The discussion "Staying Ahead of the Curve" devoted to Latvia's success in overcoming the crisis and challenges faced by our country on its way back to growth and strengthening competitiveness is also planned. The participants of the discussion will focus on the aspects, which are topical for investors, including, goals to be attained to continue to develop the investment-friendly environment, as well as potential challenges after the introduction of the euro. Prime Minister V.Dombrovskis, Minister for Economics Daniels Pavluts, Minister for Education and Science Vjaceslavs Dombrovskis, Minister for Transport Anrijs Matiss and Minister for Justice Janis Bordans will participate in the discussion. Moderator of the discussion – Dr.Christian Ketels.

The 17th meeting of the government of Latvia and FICIL will be held on May 31, at 9:00, in the Green Hall of the Cabinet of Ministers (Office of the Cabinet of Ministers, 2nd floor). The media opportunities: TV/photo opportunity at the beginning of the meeting, while at 10:20 - a family photo in the Lobby of the Cabinet of Ministers (1st floor).

After the meeting, at 12:30, the press conference will be held in the Press Conference Room of the Cabinet of Ministers (3rd floor). V.Dombrovskis and H.Berg will participate in the press conference.

FICIL will be represented at the meeting by the senior executives of the following companies: British American Tobacco, Cemex, Coca-Cola Company, Dalkia, DnB, Ernst & Young, Eversheds International Limited, Fazer Group, Fortum Corporation, GE Money, GEFCO, GlaxoSmithKline, Indtec Baltic Coal, Klasmann-Deilmann, Knauf, KPMG, Linstow, Mariner, Narvesen Baltija, Neste Oil, NCH Advisors, PricewaterhouseCoopers, Rimi Baltic, RSA Group, SEB, SPI Group, Statoil Fuel&Retail, Stora Enso, Stockholm School of Economics, Swedbank, Telia Sonera, Uralchem, Vitol, as well as by the Chairmen of the Chambers of Commerce of ten foreign countries (Denmark, Estonia, Finland, Germany, the Netherlands, Norway, Sweden, Switzerland, the United Kingdom and the USA).

About the meeting of the government and FICIL:

The Foreign Investors' Council in Latvia is a public organization that brings together ten foreign Chambers of Commerce and Industry in Latvia, as well as largest foreign companies, which have made substantial direct investments in Latvia. FICIL is actively searching for and proposes solutions to improve and develop business and investment environment in the country in cooperation with the government of Latvia. According to the priority issues raised by the investors, the working groups, composed of representatives of the investors' companies and foreign Chambers of Commerce, develop concrete proposals within the framework of FICIL.

The High Council Meetings of the Government of Latvia and FICIL have been taking place annually since 1999 with the objective to ensure structural exchange of information and opinions between investors and domestic policy makers with a view to improve the business environment and encourage foreign investment inflow in Latvia. The ministers, senior officials and senior executives from FICIL member companies participate in the annual meetings of the Latvian government and FICIL.