On 4 December 2021, Riga is hosting the World Latvian Economics and Innovations Forum (WLEIF). At the opening of the forum, its participants from 39 countries were addressed by the Parliamentary Secretary at the Ministry of Foreign Affairs, Zanda Kalniņa-Lukaševica.
As the Parliamentary Secretary greeted the participants, she underlined that, since its inception, the aim of the forum has been to promote Latvia’s economic growth and reinforce cooperation between professionals working in various business sectors in Latvia and worldwide, to facilitate the attraction of innovations and the financial and knowledge capital to Latvia as well as strengthening the sense of belonging to this country among Latvians living outside Latvia. The Ministry of Foreign Affairs is happy to be a partner to the World Federation of Free Latvians since 2013 and a supporter of the emergence of the economics and innovations forum, Zanda Kalniņa-Lukaševica said.
WLEIF is a unique format bringing together Latvian businesses from all over the world to develop and support the business potential of this country, to share their experience and knowledge thereby strengthening Latvia’s competitiveness, the Parliamentary Secretary noted. She highlighted the integral role of the Latvian diaspora and its knowledgeable, dynamic and determined members.
This year, WLEIF is focusing on how to attract more talents, knowledge and investment to Riga. The discussion topics deal with the need for a sustainable development strategy for the city, people, smart investments and a developed infrastructure in Riga. The thing that matters is also determination to build Riga as an inclusive, secure, adaptable and sustainable city in the global context. That is our obligation as we aspire to achieve the UN sustainable development goals. Efforts should be pooled and talents combined for Riga to become more sustainable and attractive, Zanda Kalniņa-Lukaševica underlined.
In her remarks to the participants, Zanda Kalniņa-Lukaševica accentuated the importance of the research and analysis base accumulated in the area of diaspora policy, making it possible to make informed decisions and formulate targeted policies. The results of opinion polls reveal that 24% of the members of the diaspora are planning to or admit the possibility of establishing a company in Latvia in the future, building or helping to build business cooperation with partners in Latvia. Most often, the intention to start a company or establish business partnership in Latvia has been expressed by the members of the diaspora working in the construction and IT sectors and in finance, insurance, research and services. Research data show that 47.9% of the diaspora members would be prepared to return should the conditions improve, while 40% are interested in living in Latvia and working remotely for an employer abroad.
Preparedness to use the experience accumulated to establish new companies or to work remotely from Latvia is a huge potential for Riga and Latvia, Zanda Kalniņa-Lukaševica noted; therefore, the Ministry of Foreign Affairs has been focusing particular attention on the possibilities of attracting digital nomads, remote workers and emerging talents to Latvia. Amendments to legislation are underway to make Latvia more accessible and attractive to digital nomads and remote workforce. The Parliamentary Secretary expressed hope that it would be possible to issue the so-called digital nomad visas in the very near future.
Welcoming remarks to the participants at the opening of WLEIF were delivered by the President of Latvia, Egils Levits, the Prime Minister Krišjānis Kariņš, and the President of the World Federation of Free Latvians, Kristīne Saulīte. The introductory session on a development strategy for Riga was launched by the Mayor of Riga, Mārtiņš Staķis.
Background information
WLEIF is organised by the World Federation of Free Latvians is association with the Ministry of Foreign Affairs, SIA ERDA Group, and the American Chamber of Commerce in Latvia.
The forum is taking place for the seventh consecutive year, and it has been previously held in Latvia, Australia, and the USA.
The forum is taking place in three thematic blocs: business and attraction of investment; workforce – Riga as a place for talents and digital nomads; and real estate development and opportunities in Riga. Each of those is introduced by the presentations of three experts to be followed by discussions.
Read more about the agenda, registration and web-streaming at www.pleif.lv