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Latvian High-Tech Industry: Trends and Developments

Author

Listed:
  • Menaker Joseph

    (“UAV factory USA” LLC,New York, USA)

  • Ozoliņa Velga

    (Riga Technical University,Riga, Latvia)

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.

Suggested Citation

  • Menaker Joseph & Ozoliņa Velga, 2018. "Latvian High-Tech Industry: Trends and Developments," Economics and Business, Sciendo, vol. 32(1), pages 160-171, July.
    • Handle: RePEc:vrs:ecobus:v:32:y:2018:i:1:p:160-171:n:13
    DOI: 10.2478/eb-2018-0013
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    References listed on IDEAS

    as
    1. World Bank, 2018. "Doing Business 2018," World Bank Publications - Books, The World Bank Group, number 28608, December.
    2. João P. Romero & John S.L. McCombie, 2016. "Differences in increasing returns between technological sectors," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 43(5), pages 863-878, October.
    Full references (including those not matched with items on IDEAS)

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