International Internet Magazine. Baltic States news & analytics
Friday, 26.08.2016, 04:26
Over the last few years, the information and communications technologies sector (ICT) has been among those with fastest growth. It is no secret that in recent years rapid expansion of different ICT services could be observed in Latvia: programming, data storage, development of mobile applications, development of various complex ICT solutions, etc. However, unlike retail trade or manufacturing, the sector usually is not in the spotlight of economic analysts and policy makers. This can be explained by the size of the sector – ICT only accounts for about 5% of the total value added, even though this level is close to the European Union's average. Nevertheless, the success of the sector should be noted: it is one of the fastest growing, with high productivity levels, high average salary, implementation of latest technologies, and other positive features.
Keyword tags: Analytics, Banks, Direct Speech, Industry, Innovations, Internet, Latvia, Technology, Telecomunications
The Estonian taxi-hailing app Taxify which has recently expanded its operations to Budapest, Bucharest and Nairobi is planning to launch its operations in four other cities around the world in September, reports LETA/BNS.
Enterprise Estonia is set to launch in the next three years a virtual reality environment costing up to a million euros to showcase Estonia and the e-solutions available here, writes LETA/BNS.
Latvia ranks third and Estonia fifth among member states of the Organization for Economic Cooperation and Development (OECD) for the percentage of fiber connections in total broadband, informs LETA/BNS.
The Commission has launched a new public-private partnership on cybersecurity. It is expected to trigger €1.8 bln of investment by 2020. This is part of new initiatives to better equip Europe against cyber-attacks, strengthen the competitiveness of the EU’s cybersecurity sector and create EU’s cybersecurity single market.
Digital issues are now firmly on the global political agenda, e.g. at the G-7 ICT meeting in Japan in April 2016 and recent OECD meeting as well as in the G-20 formation. These are clear signs of digital/ICT socio-economic importance and political relevance: the ICT-digital industry is becoming the fastest growing sector in the world.
The Estonian aircraft painting and maintenance company Magnetic MRO is to open a new online store, enginestands24.com, where it will sell and lease aircraft engine stands, reports LETA/BNS.