On Friday 29 April, Prime Minister Māris Kučinskis opened the entreprenurs’ panel discussion, ”The Future Impact of Start-ups on our Economies – a Discussion Beginning with Berlin and Riga,” in Berlin.
During the event, he pointed out that Latvia’s economic competitiveness is based on productivity growth, which is in turn based on technological factors, production efficiency and innovation. Earlier this year, members of 28 Latvian startup companies joined together and founded the Latvian Start-up Association.
The Prime Minister stressed that Latvia is situated in a region that has great potential to become one of the most powerful centres in Europe in the field of information and communication technologies (ICT). In February this year, the start-up and technology conference “TechChill Baltics” was held in Rīga for the fifth time, bringing together representatives and enthusiasts from about 500 technology companies in the region.
“Digital infrastructure plays an important role in Latvia’s economy - our society, in both the private and public sector, enjoys the advantage of relatively cheap broadband Internet and a speedy Internet connection,” said M. Kučinskis.
Although the ICT sector currently accounts for only 3.8% of GDP of Latvia, it has a significant impact on society and the country as a whole. There are more than 5,000 companies in the ICT sector of Latvia, while the number of employees exceeds 26,000. In 2014, the ICT sector paid about 6% of all taxes collected in the country.
As previously announced, from April 28-29, M. Kučinskis is paying a working visit to Germany.
Within the framework of the visit, the Prime Minsiter had a meeting with the Chancellor of the Fedreal Republic of Germany Angela Merkel and the Prime Minister of Lower Saxony. The Prime Minister attended the Hannover Messe, participated in a panel discussion on the importance of start-ups for economic growth, and held a meeting with German and Latvian entrepreneurs.
Andrejs Vaivars
Press Secretary to the Prime Minister
Phone: 29228678
E-mail: Andrejs.Vaivars@mk.gov.lv