Foreign investors commend developments in the justice sector, strengthening Latvia’s investment environment
Published: 12.09.2022
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On Friday, 9 September, the improvement of Latvia’s investment environment
was discussed at the 26th high-level meeting of the Government of Latvia and the
Foreign Investors Council in Latvia (FICIL). Foreign investors informed the
participants about the priority areas in the country that, in the investors’ view,
require attention, and provided recommendations for further work.
FICIL representatives commended the Ministry of Justice’s involvement in improving
the efficiency of the courts and strengthening investment protection, its participation
in preventing economic and financial crime, and its support for promoting and
protecting intellectual property rights.
Deputy Prime Minister and Minister of Justice Jānis Bordāns stated: “I am truly
pleased that foreign investors recognise and commend the progress achieved in
modernising and digitising Latvia’s judicial system, as well as improving the efficiency
of court proceedings. The recommendations expressed by FICIL confirm the need for
the reforms advanced by the Ministry of Justice in order to ensure effective legal
proceedings and a secure investment environment. The Ministry is currently continuing
work on the development of the Economic Affairs Court, the establishment of the
Justice Academy, the introduction of the E-case system, the implementation of the
recommendations provided as a result of the justice audit, and the improvement of
procedural legal provisions.”
The Ministry of Justice supports FICIL’s recommendations to expand the jurisdiction
of the Economic Affairs Court and to continue discussions on court specialisation in
other areas as well, taking into account the available staff capacity and resources.
The Ministry of Justice, in cooperation with the Court Administration, is also
continuing the gradual transition to electronic investigation, court proceedings and
enforcement processes by implementing the E-case initiative, which is an important
digitalisation process in the country. Improving the efficiency of the judicial system,
one of the strategic objectives is to reduce the time required to examine cases, and
this trend can already be observed.
Overall, FICIL submitted recommendations to the Government on data and its use,
the organisation of the labour market, strengthening the rule of law, promoting fair
competition, combating the shadow economy, energy independence, the green course,
improving the quality of the legislative process, and public administration.
Additional information
High-level meetings between the Government of Latvia and FICIL have been held
since 1999. Their aim is to ensure a structured exchange of information and views
between investors and local policymakers in order to improve the business environment
and promote the inflow of foreign investment into Latvia. Ministers, senior officials
and the heads of companies belonging to FICIL participate in the annual meetings of
the Government of Latvia and FICIL.
About the Foreign Investors Council
FICIL is a non-governmental organisation that brings together the largest foreign
companies from various sectors, foreign chambers of commerce, foreign trade
advisers from France, and the Stockholm School of Economics in Riga (SSE Riga).
FICIL’s mission is to improve Latvia’s business environment and competitiveness in
attracting foreign investment by using the experience and knowledge of its members
to provide recommendations to the Government.
Evija Rimšāne
Ministry of Justice
Communications Department
Public Relations Specialist
Telephone: 67036861
Email: Evija.Rimsane@tm.gov.lv
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