This week, Latvian Economy Minister Arvils Aseradens will invite businesses to contribute to development of innovations, adding that the country’s healthy development requires businessmen as invaluable partners, because development of products, services or innovations also contributes to the development of separate industries.
Next week’s agenda states that Aseradens will take part in multiple events organized as part of the Responsible Business Week 2017 of the Institute of Corporate Responsibility and Sustainability. During those events, he intends to ask companies part of the Longevity Index to contribute to the development of innovations.
The minister says: “All of us together – policy makers and businessmen – have to promote changes towards creating a modern economy by contributing to change in thought and behavior to make every action aimed towards innovation-based responsible actions.”
The minister also intends to inform businessmen about possible state support in the development innovative solutions, as well as engage with businessmen in discussions of the reasons why business innovation indexes are relatively low in the country.
Aseradens says: “Innovation is stated in the government’s action plan as one of the priorities for the transformation of the economy. Advantages in competitiveness of the Latvian state and businessmen will depend on the ability to develop innovations, new products and technologies. We will continue working in this direction to support businessmen and their efforts to invest in innovational solutions.”
The minister continues: “For example, more than EUR 190 million were allocated to support innovations during the EU fund planning period.”
On May 31, the economy minister will participate in the opening of a conference titled Responsible Ideas Market. On June 1, he will participate in the closing ceremony of the Sustainability Index.
Economy Ministry also states that the European Innovations Report 2016 mentions that Latvia is among moderate innovators countries group, whose contribution to innovation is 50-90% of the average level among 28 EU member states.
Although in the report for 2006-2015 Latvia is said to have demonstrated the highest innovation growth among all EU member states, reaching 4% (average growth in EU – 0.74%). Nevertheless, Latvia takes only 25th place among 28 EU member states (Estonia is on the 14th and Lithuania is on 24th), the ministry explains. (BNN/Business World Magazine)