Title: Latvian Bioeconomy Strategy 2030

Funding Source: Latvian Government

Country: Latvia

Stakeholders involved: Ministry of Agriculture of the Republic of Latvia and Latvia University of Life Sciences and Technologies

Description: 

The Strategy of Bioeconomy for the Republic of Latvia was created and approved by the Cabinet of Ministers in December 2017. It is a strategy that by 2017 offered quite a few novelties in comparison with other action plans or strategies: it shows a strong emphasis on attractivity for an environment for entrepreneurship within the Bioeconomy, with clear incentives practiced in public procurement, introduction of Bioeconomy impact assessments for all future policy documents, a very interesting institutional development, the establishment of a European Center for excellence in Bioeconomy research, fostering knowledge and innovation in this area and last but not least stressing the outstanding position and relevance of the Bioeconomy as a new Latvian brand of its own. In Latvia, innovative approaches for the efficient and sustainable exploitation of natural resources are developed and introduced in the bioeconomy industries in order to provide growth of the national economy providing higher value-added, promoting exports and employment. This shall be achieved while simultaneously balancing economic interests with ensuring environmental quality and preserving and enhancing biodiversity. The two main goals of the bioeconomy development in Latvia are: increasing the value added of bioeconomy products to at least EUR 3,8 billion in 2030; and increasing the value of bioeconomy production exports to at least EUR 9 billion in 2030. 

Link: https://www.llu.lv/sites/default/files/2018-07/Latvian-Bioeconomy-Strategy-Summary-WEB_0.pdf

Full strategy in Latvian language: https://tap.mk.gov.lv/mk/tap/?pid=40433525

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