In March, Foreign Investors’ Council in Latvia (FICIL) and Foreign Investors Council in Estonia (FICE) have signed a commitment letter to collaborate on a joint research project to assess the investment climate in the Baltic States, and to co-organise a high-level event together with the German-Baltic chamber of commerce in Estonia, Latvia and Lithuania (AHK). The event “Beyond Borders: Investment & Security in the Baltics” will take place in Riga on 26th of May. It aims to discuss the research, conducted by the foreign investors’ councils, and the Business Survey of AHK. Among the event high-level speakers are listed Valdis Dombrovskis (European Commissioner for Economy and Productivity, Implementation and Simplification), Thomas Östros (Vice-President of the European Investment Bank), Māris Riekstiņš (Permanent Representative of Latvia to NATO), André Küüsvek (President & CEO of the Nordic Investment Bank), Jurijs Spiridonovs (Advisor to the Board of Directors at the European Bank for Reconstruction and Development), Ieva Jāgere (Director General of LIAA), representatives of ministries of economics and of foreign affairs from the three Baltic States.
The joint initiative is supported by the Investment and Development Agency of Latvia (LIAA), seeking to enhance regional cooperation, improve the investment climates in Estonia, Latvia and Lithuania, and to provide policymakers with data-driven insights.
Unified approach to investment research
For the first time, the Baltic foreign investor councils conduct a joint study on the investment climate in Estonia, Latvia, and Lithuania. The study will use the Sentiment Index methodology, developed by FICIL and Professor Arnis Sauka from the Stockholm School of Economics in Riga. The Baltic foreign investment councils have been historically collecting data on investment climate, however, their scope was limited to a specific country.
Together with AHK, which has been gathering data on investment climates across Eastern Europe, the research studies aim to identify key challenges, strengths, and business opportunities that Estonia, Latvia, and Lithuania provide to the foreign investors, reflect on the impact of an evolving geopolitical landscape on investment attraction and retention, discuss defence, research and innovation, EU support and collaboration between the Baltic States.
“FICIL is proud to lead the current initiative, hoping to bring valuable insights to the policymakers in the Baltic States. We are grateful to all foreign investors that participate in the research, to our long-standing partner for support in data analysis – Professor Arnis Sauka, to the Latvian government and to LIAA for support. The joint challenges of the Baltic States call for jointly developed solutions and building of synergies in a new geopolitical reality, which might result in new business and collaboration opportunities”, – Reinhold Schneider, Chairman of the Board at FICIL.
“FICE has a long tradition of conducting an annual questionnaire to assess Estonia’s political climate and foreign investors’ concerns. For the first time, we are expanding this initiative to a Pan-Baltic level with our sister organizations in Latvia and Lithuania. We look forward to sharing the results with local and European authorities, emphasizing the importance of FDI in the Baltics and the need for strong cooperation at national and EU levels”, – Peter Thomsen and Heikki Mäki, chairmen of the FICE Board.
High-level joint event in Riga
The research findings of AHK and of the foreign investors’ councils will be presented and discussed at a high-level event in Riga on 26th of May 2025. The event will bring together foreign investors, policymakers from the Baltic States, and representatives from key European institutions. It will serve as a platform for strategic discussions on how to strengthen the Baltic region’s economic resilience and create a more attractive business environment.
Given common geopolitical challenges of the Baltic States and the economic and security impacts of Russia’s war in Ukraine, this initiative underscores the urgency of fostering stronger regional and EU cooperation. This is expected to boost investor confidence, signal unity within the EU, and highlight investment opportunities in the Baltic States.
Three panel discussions will be held during the event. The first one will be devoted to the discussion of investment trends in Estonia, Latvia and Lithuania, consisting of representatives of foreign investors. The second panel will focus on efforts of the Estonian, Latvian and Lithuanian governments in stimulating foreign investment, as well as, on cooperation between the three Baltic States in a new geopolitical reality. The third panel discussion will be devoted to the European and international policy support that could contribute to addressing security and economic challenges of the Baltic States.
About participants of the initiative:
The Foreign Investors’ Council in Latvia (FICIL) is a non-governmental organisation that brings together the largest companies from various countries and sectors that have made significant investments in Latvia, as well as, ten countries’ Chambers of Commerce in Latvia and Stockholm School of Economics in Riga. Its mission is to improve Latvia’s business environment and overall competitiveness in attracting foreign investment.
FICE – Foreign Investors’ Council in Estonia FICE was launched in August 2008 as a lobby group acting through contacts with the Estonian Government and Estonia’s Governmental bodies. FICE members are foreign chamber of commerce operating in Estonia. Together, the chambers represented in FICE account for almost 80% of Estonia’s total foreign direct investments. FICE’s main issues and priorities mirror the interests and concerns of foreign investors in Estonia like tax systems, education and labour, energy, environment, and administrative reforms as well as business ethics.
The German-Baltic Chamber of Commerce in Estonia, Latvia and Lithuania e.V. is registered as an association in Germany. The three service companies in Estonia, Latvia and Lithuania offer members and customers a wide range of services and advice for successful market entry. In addition, the AHK actively represents the interests of its member companies vis-à-vis governments and authorities.