Analytics, Forum, Investments, Latvia, Markets and Companies, USA

Keynote remarks were delivered by Deputy Prime Minister and Minister of Economics, Arvils Ašeradens, U.S. Ambassador to Latvia, Nancy Bikoff Pettit, and AmCham President, Arnis Kākulis.

Highlights of the 25^th Anniversary Gala Dinner included:

• The launch of the video “What value AmCham brings to members and partners”;
• Presentation of the history of AmCham
• Awarding certificates of appreciation to the most committed members;
• Birthday cake cutting by the past and present board members;
• Live music from the Big Al & Jokers.

The event was sponsored by Callidus Capital, Indexo, Vitol Baltics and LSC as well as Amber Distribution Latvia, Belam – Riga and Gosselin Mobility Baltics.

AmCham Latvia was one of the first Western chambers established in the Baltic region. Since its establishment in 1993 by 27 U.S. investors, it has grown into a professional business organization, representing more than 150 leading international and local companies in Latvia.

U.S. Ambassador Pettit said, “Since day one, the U.S. Embassy has cooperated with AmCham with the same goals in mind, including our shared goal of expanding trade and investment opportunities between Latvia and the United States.

To accomplish the goal of expanding trade and investment, we started 25 years ago from ground zero.  Together, we have worked to get the word out to American companies about the advantages of investing in Latvia.  We have also collaborated on efforts to educate Latvian companies and entrepreneurs on how to do business in the United States. 

According to the Ambassador, “My hope is that over the next 25 years, AmCham’s legacy will continue to serve as its vision of trade and investment promotion, rule of law advocacy, and corporate social responsibility.  We have come a long way together since 1993. And while our accomplishments have been substantial, we must continue to look to the future to promote a stronger investment climate, good governance, anti-corruption efforts, and Latvia as a destination and partner for American and Latvian businesses to thrive.”

AmCham President Arnis Kakulis said: “We are proud and delighted to celebrate a quarter of century together with Latvia’s 100th Anniversary this year. From a small chamber of 27 members in 1993, AmCham has grown into an international business hub representing over 150 companies that include some of the largest international companies in Latvia. Over the past years we have expanded all aspects of our activities, in terms of membership, the quantity and the scope of our programs as well as the focus on our advocacy efforts. Our ongoing success would be impossible without the support of our members who actively participate and contribute their time and expertise.”

“Since its early days, AmCham has been advocating for greater transparency and responsible corporate practices. While we are glad about the progress achieved so far, we recognize that much remains to be done. We are certain that foreign direct investment, including of the U.S., will respond to greater transparency, predictability and an even playing field,” the AmCham President said.

“In the days ahead, AmCham will continue to expand its activities to positively affect the Latvian business environment, thus helping increase Latvia’s competitiveness”, he concluded.

In the past 25 years, AmCham has delivered qualitative programs through which members and partners were able to gain information, education and knowledge. It has:

• Successfully informed and guide lined policymakers in the U.S. and Latvian governments on issues important to the business community through its strategic partnership with other business organizations such as Foreign Investors Council in Latvia (FICIL) and the network of AmChams in Europe.

• Actively promoted Latvia as an investment destination through organizing and participating in several U.S. Investment and Trade Missions to the Baltics and Latvia together with its partners in the government, and sent delegations to the U.S. and around Europe to increase awareness about investment opportunities in Latvia.

• Welcomed former U.S. Presidents George W. Bush and Bill Clinton to Latvia.

• Held over 210 business luncheons, featuring high-level guest speakers from both government and business, including current and former Presidents and Prime Ministers of Latvia, in addition to leading U.S. government officials such as former U.S. Secretary of Labor, U.S. Ambassador to the EU, U.S. Governors and Senators. 

• Held about 60 seminars, including 20 high-level seminars in Outlook series exploring the main economic, legal and social issues of the day;

• Held over 180 business networking events and social events, including 2 U.S. Independence Day Picnics, 6 Opera Nights and 12 annual Chili Cook-Offs.

• Initiated and held 4 Human Development Award in cooperation with the U.S. Embassy and Civic Alliance of Latvia to honor inspirational Latvian people and organizations who have significantly contributed to human development in the areas of social responsibility, education, health and well-being and the future development of Latvia.

• Held 6 seminars within program the Gateway to the USA together with the Latvian Chamber of Commerce in Latvia with the aim to promote trade and investment between Latvia and the U.S.

• Held 4 Annual Student Business Plan Competitions supporting the development of young entrepreneurs in Latvia.

Video of AmCham board is available here: https://youtu.be/qclFg6X66TA