Latvian High-Tech Industry: Trends and Developments

Menaker Joseph and Ozoliņa Velga ()
Additional contact information
Menaker Joseph: “UAV factory USA” LLC,New York, USA
Ozoliņa Velga: Riga Technical University,Riga, Latvia

Economics and Business, 2018, vol. 32, issue 1, 160-171

Abstract: The paper covers analysis of high-tech industry development in Latvia, as well as its facilitating and restricting factors. High-tech industries become more important in Latvia both in terms of export share and generated value added; also the number of enterprises and employees is increasing. A stable political system, enabling business environment, a relatively low corporate income tax rate, and government aid are considered as some of the most important facilitating factors. The paper emphasizes the government’s role in promoting and developing the high-tech manufacturing. The most significant limitations are the lack of skilled specialists and sophisticated real estate space, and the remote industrial supply companies and the service centres. Recommendations are given on the possible development directions, including improvements in manufacturing infrastructure, enhancements of the skill level of the labour force, and bringing up a new generation of entrepreneurs.

Keywords: Advanced manufacturing; entrepreneurship in Latvia; high-tech industry; high-tech industry influencing factors; skilled labor (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ecobus:v:32:y:2018:i:1:p:160-171:n:13

DOI: 10.2478/eb-2018-0013

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