Staging and Testing

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  • The Coronation Weekend

    The Coronation of The King and The Queen Consort will take place at Westminster Abbey on Saturday 6th May 2023.

    The Service will be conducted by the Archbishop of Canterbury and will reflect the Monarch’s role today and look towards the future, while being rooted in longstanding traditions and pageantry.

    Their Majesties will arrive at Westminster Abbey in procession from Buckingham Palace, known as ‘The King’s Procession’.

    After the Service, Their Majesties will return to Buckingham Palace in a larger ceremonial procession, known as ‘The Coronation Procession’. Their Majesties will be joined in this procession by other Members of the Royal Family.

    At Buckingham Palace, The King and The Queen Consort, accompanied by Members of the Royal Family, will appear on the balcony to conclude the day’s ceremonial events.

    How to watch: details of how and where to watch the service are available on the Department for Culture, Media and Sport website.

    More information related to the Coronation Weekend available here  and here. 

  • FICIL Sentiment Index outlines necessary improvement regarding efficiency of public sector

    Foreign investors rated the investment climate in Latvia in the last 12 months as below average, as concluded in the “Sentiment Index 2022: Governance Edition” research by Foreign Investors’ Council in Latvia (FICIL) and Dr. Arnis Sauka from the Stockholm School of Economics in Riga (SSE Riga).

    Investors assessed the overall investment climate with a rating of 2.3 points out of 5, and policymaker efforts to improve the investment climate over the 12-month period with a rating of 2.7 points out of 5.

    In 2022, Sentiment Index research focused on investors’ cooperation with the public sector, the effectiveness of the public sector in general, as well as corporate governance issues in state-owned and municipality-owned enterprises.

    Foreign investors plan to continue investing in Latvia

    The study shows that almost four fifths (79%) of the foreign investors interviewed are planning to increase their investments in the upcoming years which is the highest percentage in the Sentiment index research history, this is higher than previous year, where 65% of investors answered in favour of continuing to invest. However, about one seventh (15%) of the respondents will not increase their investment while 6% indicated that this question is still undecided and will depend on various factors. Similar to last years study, workforce quality and availability were mentioned as one of the most important factors when a company is deciding to continue investing in Latvia.

    FICIL held a Sentiment Index 2022: Governance Edition presentation event on 24th of April 2023. During the event public sector representatives, politicians, investors and present guests discussed and debated the results. The event was moderated by journalist Jānis Domburs.

    About FICIL Sentiment Index 2022: Governance Edition

    In early 2023 FICIL together with Dr. Arnis Sauka from SSE Riga carried out its eighth consecutive Sentiment Index research. In addition to the usual topics, the research also provides investors’ viewpoint on the effectiveness of the public sector and ways to improve cooperation among businesses and state administration.  Executives from 55 companies participated in the interviews, representing key foreign investors in Latvia. Altogether, these companies (including their subsidiaries) contribute to 21% of Latvia’s total tax revenue and employ 18% of the total workforce of companies with an annual turnover above 145 000 EUR and 50% foreign capital.

    Read the full article here.

  • BCC News: Business Would Welcome Removal Of REUL Sunset Clause

    Reacting to reports that the sunset clause might be removed from the Retained EU Law Bill, William Bain, Head of Trade Policy at the BCC, said:

    “Over the past few months, the BCC has consistently put forward a strong business case to remove the uncertainty caused by an imminent sunset clause for retained EU law.

    “If Ministers are now considering a more pragmatic approach this would be greatly welcomed. Firms have been battered by the pandemic, energy costs, inflation and rising interest rates, but their confidence in the economic outlook has been starting to grow. Now is not the time to knock that with a hasty sunset clause across vast areas of UK regulation.

    “But it would appear the Government has been listening and we welcome the opportunity for further dialogue. Businesses are keen to see reform which removes barriers to growth, where appropriate, that keeps costs down andavoids divergence within the UK internal market.”

  • BCC News: Quarterly Recruitment Outlook: No sign of hiring difficulties easing 

    The latest Quarterly Recruitment Outlook (QRO), a survey of more than 5,000 UK firms of all sectors and sizes by the British Chambers of Commerce (BCC) reveals businesses are still facing record high difficulties in hiring new staff.

    The first quarter results for 2023 show that recruitment difficulties have fallen just two percentage points from the record high level of 82% in Q4 2022.

    • 80% of businesses surveyed (92% of whom are SMEs) attempting to recruit have faced challenges, with hospitality and manufacturing firms still the most likely to report difficulties
    • Almost six in ten (59%) businesses are actively trying to recruit staff
    • BCC calls on Government to work with business on solutions including skills training, investment and urgent reform of the Shortage Occupations List (SOL)

    Attempted recruitment in Q1 was virtually unchanged from the previous quarter, with 59% of those surveyed looking to find staff (61% in Q4 2022).

    While recruitment difficulties are being experienced across the economy, firms in the hospitality and manufacturing sectors were the most likely to report recruitment difficulties (83% in each sector). This is closely followed by the construction and engineering sector (81%) and then professional services; and public, education, health sector on 79%.

    The recruitment pressure points vary across sectors. For firms who struggled to recruit in the construction and engineering sector, 71% faced difficulties in finding skilled manual/technical workers. However, for hospitality businesses that struggled to recruit, 64% faced difficulties in finding semi/unskilled workers.

    Investment in training remains stubbornly low in an environment of increasing cost pressures. Just over a quarter of firms (27%) reported an increase in their training investment plans over the last three months (24% Q4 2022), while 14% report a drop.

    Overall, 67% of businesses say labour costs are a source of inflationary pressure, with a similar number (66%) worried about energy costs. Concerns around labour costs are highest in manufacturing (76%) followed by construction and engineering, logistics, and hospitality (each at 70%).

  • RISEBA University new Rector

    On April 19, 2023, the RISEBA University of Business, Arts and Technology’s Constitutional Assembly, elected the current Vice Rector of RISEBA Studies, professor Lucija Rutka, as the new rector of RISEBA.

    We, British Chamber of Commerce in Latvia, send our warmest congratulations to the new Rector, and wish her and RISEBA University continuous success and development, and hope for a further cooperation with BritCham!

  • Dealmakers coming to TechChill from the UK.

    The UK is one of the world’s premier locations for tech of all kinds. Join Elizabeth Varley and Martin Ring from the DBT’s Global Entrepreneur Programme at TechChill Riga 2023 to explore business growth opportunities from a UK launchpad.

    Elizabeth Varley will be also participating in the session ‘Who’s Leading Your Company? Business Growth Through Founder Self-Discovery’.

    When: 28 April 2023

    What time?: 2:20pm (GMT+3)

    TechChill

    When: 26 – 28 April 2023
    Where: Riga, Latvia

  • CBRE Market Reports for April

    CBRE has published figures for Baltic Office Market for Q1 2023 and Baltic Industrial Figures for Q1 2023. 

    See the market reports here.

  • Pink Train Fundraising Marathon

    A message from Pink Train Foundation:

    Dear BritCham Members and Friends,

    Having survived the Covid-19 pandemic, charities and NGO’s are now experiencing the negative effects of the war in Ukraine, as many funds are, understandably, being channelled to fight this cause. However, the number of women diagnosed with breast cancer in Latvia remains the same – over 1000 new cases every year. Over the last 8 years the Pink Train Foundation has helped more than 1000 women diagnosed, covering the costs of psychological support following diagnosis and physiotherapy after surgery, and the number of women helped remains steady every year.

    Following a three year break we are therefore delighted to announce that this year we are organising the Pink Train May Marathon again and invite you to take part and help us raise funds for our cause.

    How can you participate?

    1. During the month of May run, walk, cycle, ride, roller-blade or use whatever other means to “do” 42k. Keep a tally of your achievements and invite your friends, family, colleagues and others to support you by donating to the Pink Train Foundation. Donations can be made via our fund-raising link or directly to our bank account or paypal account. All donations made in May will be counted towards our goal of raising a minimum of EUR 4200. (As a guide, we need an average of EUR 3000 a month to cover the costs of counselling and physiotherapy for breast cancer patients).

    We would love it if you posted pictures of your efforts on your social media with one or more of the following hashtags #pinktrainmarathon2023 #rozāvilcienamaratons2023 #pinktrain42k (optional, of course).

    Prizes will be awarded at the end of the challenge to the individual and group (family, friends, company or organisation) raising the highest amount, as well as those considered to be the most creative. The pinker, the better, of course!

    2. Not ready to “do” a marathon in May? Support us or someone participating by donating!

    Donations can be made via this link or Via Paypal: rozavilciens@gmail.com

    Direct to our bank account:

    Rozā vilciena labdarības fonds

    LUMINOR

    LV96RIKO0000084371014

    SWIFT: RIKOLV2X

    We will also appreciate any donations towards our prize fund – please contact us separately by writing to rozavilciens@gmail.com or by calling Zinta on 26338398.

  • Ellex Klavins SEMINAR: ARBITRATION IN STOCKHOLM

    Ellex Klavins invites BritCham Members and Friends to participate in the Ellex Klavins seminar: “Arbitration in Stockholm” that will take place 25 April at 11:00 AM, arrival and coffee break from 10:30 AM.

    Location: Riga Graduate School of Law, Strelnieku 4 k-2, 4th floor, auditorium W42

    The first part of the seminar will focus on the SCC Arbitration Institute, its practice, and advantages. The second part will be devoted to the third-party funding trends in the Nordics.

    PROGRAMME: 

    10:30 – 11:00  COFFEE AND SNACKS

    11:00 – 12:00

    Caroline Falconer, Secretary General of the SCC Arbitration Institute

    The SCC Arbitration Institute sees a great deal of international disputes, also from the Baltic region. What are the advantages of arbitrating at the SCC? What really happens behind these closed doors? How much does the arbitration really cost? What kinds of international cases arrive at the SCC Arbitration Institute, and especially from the Baltic countries? What should be considered when negotiating an arbitration clause in an international agreement?

    12:00 – 13:00

    Thony Lindström Härdin, Founder and Chief Executive Officer at Litigium Capital

    Third Party Funding trends in the Nordics. When and why should a corporation consider sharing procedural risks with an external funder?

    13:00 – 13:30 COFFEE AND SNACKS

    If you would like to attend the seminar, please apply until 19 April, by writing to this e-mail: events.latvia@ellex.legal

  • FICIL Sentiment Index: Governance edition

    Foreing Investors Council in Latvia (FICIL) invites you to join the FICIL Sentiment Index: Governance edition presentation event which take place on – 24th of April from 10:00 till 12:00. Arrival and coffee break from 9:30.

    Location: Wellton Riverside Hotel, 11. Novembra Krastmala 33, Rīga

    Language: Latvian with simultaneous translation to English

    Dr Arnis Sauka will give a brief overview of the main results of FICIL Sentiment Index research. Journalist Jānis Domburs will moderate a discussion among politicians, public sector representatives and investors. The panel will focus on topics investors outlined during Sentiment Index interviews, including human capital policy, public sector reform, administrative burden for entrepreneurs and cooperation with municipalities. The event will also be live-streamed. Please register below if you would like to attend in person.

    Please note that the number of seating is limited.

    Registration for the FICIL Sentiment Index here.