Letter

Ministry of Economics of the Republic of Latvia

Brīvības iela 55, Rīga, LV-1519, Latvia, phone +371 67013100, e-mail [email protected], www.em.gov.lv

Riga

01.04.2025 No. 3.3-4/2025/2176N

Ministry of Economic Affairs and Communications

of the Republic of Estonia

e-mail: [email protected]

Dear Erkki Keldo,

This year, the Foreign Investors’ Council in Estonia (FICE), Foreign

Investors’ Council in Latvia (FICIL), Investors’ Forum in Lithuania, in collaboration

with the Investment and Development Agency of Latvia (LIAA), the German-Baltic

Chamber of Commerce in Estonia, Latvia and Lithuania (AHK), and the Stockholm

School of Economics in Riga, are organising the Foreign Investors’ Joint Event

on the Investment Climate in the Baltic States on 26th May in Riga. The Ministry

of Economics of the Republic of Latvia endorses this event, and I would highly

appreciate Your participation in the joint panel discussion, together with the Minister

of Economy and Innovation of the Republic of Lithuania.

Given evolving geopolitical landscape, security and economic impacts of the

Russia’s war in Ukraine on the Baltic States, the foreign investors in Lithuania,

Latvia and Estonia express serious concerns about the investment climate in the

Baltic region and call for a productive discussion with the EU and national

policymakers. Such discussion is expected to boost investor confidence, foster

collaboration between the Baltic States, signal unity and readiness of the European

policymakers to support the Baltic States in these challenging times. Among the key

topics of the discussion are listed:

• Key challenges and business opportunities in the Baltic States;

• EU security and defence;

• Support to research and innovation to stimulate competitiveness,

resilience and investment attraction.

In preparation to the event, the above-listed organisers of the event conduct

research on the analysis of investment climate in the Baltic States. The research

findings will be presented at the event and serve as a basis for the first panel

discussion between the foreign investor representatives from the three Baltic States,

reflecting on investment trends in Estonia, Latvia and Lithuania.

The second panel discussion (planned between 11:30 and 13:00) will be

devoted to the efforts of the Estonian, Latvian and Lithuanian governments in

stimulating foreign investment, as well as, to the cooperation between the three

Baltic States in a new geopolitical reality. It is planned that the Ministers of Economy

and the Ministers of Foreign Affairs from the three Baltic States will participate in

this discussion to address the following:

• How governments are addressing key challenges of the foreign

investors;

• Current and upcoming investment opportunities in the Baltic States and

strategies to stimulate foreign investments;

• How geopolitics has influenced economic and defence cooperation

among the Baltic States. Collaboration opportunities to tackle common challenges

and build synergies;

• Overview of EU support measures for the Baltic States, particularly in

the areas of defence, research, and innovation.

I would be honoured if You could join the second panel discussion,

reassuring current and potential investors of business opportunities in Estonia and in

the Baltic States generally, of the security of the Baltic region, and signifying

readiness to strengthen collaboration between Estonia, Lithuania and Latvia.

The third panel discussion (planned between 14:00 and 15:15) will focus on

the EU policy support that could contribute to addressing security and economic

challenges of the Baltic States. It will consist of representatives of the European

Commission and of the European Parliament. Valdis Dombrovskis, Commissioner

for Economy and Productivity, and for Implementation and Simplification, has

preliminary approved participation at the event.

The event will be organised in English. It will gather current and potential

foreign investors from Estonia, Latvia and Lithuania, national and EU policymakers,

academic experts and other key stakeholders invested in economic development of

the Baltic region. The full agenda of the event can be found in the Annex below.

I would highly appreciate if You could confirm participation at this event.

Should you have questions, please contact Heikki Mäki Vice Chairman at the

Foreign Investors Council in Estonia or ([email protected]) our the main organiser

of the event – Tatjana Guznajeva, executive director at the Foreign Investors’

Council in Latvia ([email protected] or via phone +37120011176).

In the appendix “concept note” file: Concept note of the joint event on investment

climate in the Baltic States_March.pdf

Sincerely,

Minister Viktors Valainis

The documents is signed with secure electronic signature

Sanita Zakse

[email protected]

Annex: Agenda of the event

09:00 - 09:30 | Registration and welcome coffee

• Arrival and networking opportunity over coffee

09:30 - 09:45 | Opening remarks

• Welcome words: moderator (Morten Hansen – Head of Economics Department at

Stockholm School of Economics in Riga) welcomes participants, presents aims of the

event and agenda (5 min.)

• Introduction into the topic: moderator presents short analysis of FDI and economic

development of the Baltic States since the beginning of the war in Ukraine (8 min.)

09:45 - 10:10 | Presentation of research results: Investment Climate in the Baltic States

• Arnis Sauka: Comparative analysis of the investment climate across three Baltic States,

based on common research questions (15 min.)

• AHK: Investment climate in the Baltic States, compared to situation in Eastern Europe

(10 min.)

10:10 – 11:00 | Panel Discussion 1: Presenters reflect on investment trends across years and

across Baltic States, highlighting key challenges and opportunities

• Format:

o Panelists: Representatives from FICE, FICIL, Investors’ Forum in Lithuania,

AHK

o Moderator: Arnis Sauka

o Questions: moderator asks questions and asks for remarks/questions from the

audience. Investors share concrete examples.

• Discussion Points:

o Comparative analysis of investment climates across the three Baltic States across

years;

o Key challenges and opportunities in each country and in the region as a whole;

o Recommendations for fostering a more favorable investment climate in the Baltic

States and messages to the national and European policymakers.

11:00 - 11:30 | Coffee Break and Networking

• Light snacks and coffee/tea served

11:30 – 13:00 | Panel Discussion 2: Stimulating FDI and cooperation in the Baltic States in

a new geopolitical reality

• Format:

o Panelists: Ministers of Economics and of Foreign Affairs from Latvia, Lithuania,

and Estonia

o Moderator: Morten Hansen

o Questions: moderator asks questions and some questions from the audience

• Discussion Points:

o Reflection on research findings - how governments tackle identified challenges;

o Key current and upcoming opportunities for investments in the Baltic States and

strategies of each Baltic State to stimulate FDI;

o How geopolitics shaped economic and defence collaboration among the Baltic

States. Collaboration prospects to address joint challenges and limitations, and to

build synergies in pursuit of opportunities;

o Reflection on EU support measures to the Baltic States, especially in the areas of

defence, research and innovation.

13:00 - 14:00 | Lunch Break

14:00 – 15:15 | Panel Discussion 3: Policy support for boosting investor confidence in the

Baltic States in a new geopolitical reality

• Format:

o Panelists: Representative from the European Commission (Valdis Dombrovskis),

three representatives from the European Parliament (one per Baltic State), one

representative from the European Investment Bank and/or European Bank for

Reconstruction and Development

o Moderator: Morten Hansen

o Questions: moderator asks questions and some questions from the audience

• Discussion Points:

o Reflection on research results – how can the EU contribute to addressing

challenges of the foreign investors;

o EU support measures to the Baltic States, especially in the areas of defence,

research and innovation;

o Collaboration between the foreign investors and EU policymakers;

o EU perspective on investment opportunities in the Baltic States.

15:15 - 15:30 | Closing Remarks: Key takeaways from representatives of FICE, FICIL,

Investors’ Forum in Lithuania, AHK (3 min. each)

15:30 - 17:00 | Coffee Break and Networking

• Light snacks and coffee/tea served

Ministry of Economics of the Republic of Latvia

Brīvības iela 55, Rīga, LV-1519, Latvia, phone +371 67013100, e-mail [email protected], www.em.gov.lv

Riga

01.04.2025 No. 3.3-4/2025/2176N

Ministry of Economic Affairs and Communications

of the Republic of Estonia

e-mail: [email protected]

Dear Erkki Keldo,

This year, the Foreign Investors’ Council in Estonia (FICE), Foreign

Investors’ Council in Latvia (FICIL), Investors’ Forum in Lithuania, in collaboration

with the Investment and Development Agency of Latvia (LIAA), the German-Baltic

Chamber of Commerce in Estonia, Latvia and Lithuania (AHK), and the Stockholm

School of Economics in Riga, are organising the Foreign Investors’ Joint Event

on the Investment Climate in the Baltic States on 26th May in Riga. The Ministry

of Economics of the Republic of Latvia endorses this event, and I would highly

appreciate Your participation in the joint panel discussion, together with the Minister

of Economy and Innovation of the Republic of Lithuania.

Given evolving geopolitical landscape, security and economic impacts of the

Russia’s war in Ukraine on the Baltic States, the foreign investors in Lithuania,

Latvia and Estonia express serious concerns about the investment climate in the

Baltic region and call for a productive discussion with the EU and national

policymakers. Such discussion is expected to boost investor confidence, foster

collaboration between the Baltic States, signal unity and readiness of the European

policymakers to support the Baltic States in these challenging times. Among the key

topics of the discussion are listed:

• Key challenges and business opportunities in the Baltic States;

• EU security and defence;

• Support to research and innovation to stimulate competitiveness,

resilience and investment attraction.

In preparation to the event, the above-listed organisers of the event conduct

research on the analysis of investment climate in the Baltic States. The research

findings will be presented at the event and serve as a basis for the first panel

discussion between the foreign investor representatives from the three Baltic States,

reflecting on investment trends in Estonia, Latvia and Lithuania.

The second panel discussion (planned between 11:30 and 13:00) will be

devoted to the efforts of the Estonian, Latvian and Lithuanian governments in

stimulating foreign investment, as well as, to the cooperation between the three

Baltic States in a new geopolitical reality. It is planned that the Ministers of Economy

and the Ministers of Foreign Affairs from the three Baltic States will participate in

this discussion to address the following:

• How governments are addressing key challenges of the foreign

investors;

• Current and upcoming investment opportunities in the Baltic States and

strategies to stimulate foreign investments;

• How geopolitics has influenced economic and defence cooperation

among the Baltic States. Collaboration opportunities to tackle common challenges

and build synergies;

• Overview of EU support measures for the Baltic States, particularly in

the areas of defence, research, and innovation.

I would be honoured if You could join the second panel discussion,

reassuring current and potential investors of business opportunities in Estonia and in

the Baltic States generally, of the security of the Baltic region, and signifying

readiness to strengthen collaboration between Estonia, Lithuania and Latvia.

The third panel discussion (planned between 14:00 and 15:15) will focus on

the EU policy support that could contribute to addressing security and economic

challenges of the Baltic States. It will consist of representatives of the European

Commission and of the European Parliament. Valdis Dombrovskis, Commissioner

for Economy and Productivity, and for Implementation and Simplification, has

preliminary approved participation at the event.

The event will be organised in English. It will gather current and potential

foreign investors from Estonia, Latvia and Lithuania, national and EU policymakers,

academic experts and other key stakeholders invested in economic development of

the Baltic region. The full agenda of the event can be found in the Annex below.

I would highly appreciate if You could confirm participation at this event.

Should you have questions, please contact Heikki Mäki Vice Chairman at the

Foreign Investors Council in Estonia or ([email protected]) our the main organiser

of the event – Tatjana Guznajeva, executive director at the Foreign Investors’

Council in Latvia ([email protected] or via phone +37120011176).

In the appendix “concept note” file: Concept note of the joint event on investment

climate in the Baltic States_March.pdf

Sincerely,

Minister Viktors Valainis

The documents is signed with secure electronic signature

Sanita Zakse

[email protected]

Annex: Agenda of the event

09:00 - 09:30 | Registration and welcome coffee

• Arrival and networking opportunity over coffee

09:30 - 09:45 | Opening remarks

• Welcome words: moderator (Morten Hansen – Head of Economics Department at

Stockholm School of Economics in Riga) welcomes participants, presents aims of the

event and agenda (5 min.)

• Introduction into the topic: moderator presents short analysis of FDI and economic

development of the Baltic States since the beginning of the war in Ukraine (8 min.)

09:45 - 10:10 | Presentation of research results: Investment Climate in the Baltic States

• Arnis Sauka: Comparative analysis of the investment climate across three Baltic States,

based on common research questions (15 min.)

• AHK: Investment climate in the Baltic States, compared to situation in Eastern Europe

(10 min.)

10:10 – 11:00 | Panel Discussion 1: Presenters reflect on investment trends across years and

across Baltic States, highlighting key challenges and opportunities

• Format:

o Panelists: Representatives from FICE, FICIL, Investors’ Forum in Lithuania,

AHK

o Moderator: Arnis Sauka

o Questions: moderator asks questions and asks for remarks/questions from the

audience. Investors share concrete examples.

• Discussion Points:

o Comparative analysis of investment climates across the three Baltic States across

years;

o Key challenges and opportunities in each country and in the region as a whole;

o Recommendations for fostering a more favorable investment climate in the Baltic

States and messages to the national and European policymakers.

11:00 - 11:30 | Coffee Break and Networking

• Light snacks and coffee/tea served

11:30 – 13:00 | Panel Discussion 2: Stimulating FDI and cooperation in the Baltic States in

a new geopolitical reality

• Format:

o Panelists: Ministers of Economics and of Foreign Affairs from Latvia, Lithuania,

and Estonia

o Moderator: Morten Hansen

o Questions: moderator asks questions and some questions from the audience

• Discussion Points:

o Reflection on research findings - how governments tackle identified challenges;

o Key current and upcoming opportunities for investments in the Baltic States and

strategies of each Baltic State to stimulate FDI;

o How geopolitics shaped economic and defence collaboration among the Baltic

States. Collaboration prospects to address joint challenges and limitations, and to

build synergies in pursuit of opportunities;

o Reflection on EU support measures to the Baltic States, especially in the areas of

defence, research and innovation.

13:00 - 14:00 | Lunch Break

14:00 – 15:15 | Panel Discussion 3: Policy support for boosting investor confidence in the

Baltic States in a new geopolitical reality

• Format:

o Panelists: Representative from the European Commission (Valdis Dombrovskis),

three representatives from the European Parliament (one per Baltic State), one

representative from the European Investment Bank and/or European Bank for

Reconstruction and Development

o Moderator: Morten Hansen

o Questions: moderator asks questions and some questions from the audience

• Discussion Points:

o Reflection on research results – how can the EU contribute to addressing

challenges of the foreign investors;

o EU support measures to the Baltic States, especially in the areas of defence,

research and innovation;

o Collaboration between the foreign investors and EU policymakers;

o EU perspective on investment opportunities in the Baltic States.

15:15 - 15:30 | Closing Remarks: Key takeaways from representatives of FICE, FICIL,

Investors’ Forum in Lithuania, AHK (3 min. each)

15:30 - 17:00 | Coffee Break and Networking

• Light snacks and coffee/tea served