RIGA - Latvia's military industry can be strengthened by attracting investment from European defense companies, promoting cooperation among the state, scientists, and industry, as well as creating a coordinated export support system, according to researchers from the Productivity Research Institute LV PEAK at the University of Latvia.
As LETA was told at the university, the researchers analyzed the structure, competitiveness, and development potential of the Latvian defense sector. They concluded that Latvia's strategic goal is to develop a competitive military industry that works closely with other NATO countries, especially in the Baltic and Northern European region, while strengthening technological independence and national security.
The authors of the study note that the military industry can play an increasingly important role in Latvia's economy, innovation development, and international competitiveness.
The results and recommendations of the study will be presented next Thursday, May 28, at the seminar "The role and contribution of the defense sector to economic growth". The event will be attended by representatives from academia, ministries, and industry organizations.
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