Analytics, Covid-19, Direct Speech, EU – Baltic States, Latvia, Markets and Companies, Technology

"The crisis has demonstrated that digitalization, robotization is very important. This crisis also showed vulnerability of the long and complicated supply chains. It means that in the future many supply chains will become shorter and simpler," he said.

He said that supply chains focusing on European producers will also mean an opportunity for Latvia, for example, in manufacturing of electric equipment. "This opportunity should not be wasted, it could give us a new breakthrough," he said.

At the same time, not all companies understand opportunities provided by digitalization. "It is a problem. I hope that we have achieved such level in productivity of manufacturing that companies understand that it is not possible to achieve a bigger growth with the present mechanisms, and we need digitalization," said Kazaks, adding that hopefully, the state support will promote the company's wish to act in this direction.

He said that the state is the largest player in the economy, especially in administration of the European funds and Next Generation EU package, and digitalization should be set as the priority at the moment of selecting projects. "We have the opportunity. If we don't use it, somebody else will," he said.

Covid-19 has not brought only recession and trouble, it also urged the countries to look at it as an opportunity. Next Generation EU is a huge opportunity that Latvia should use it. It is a story about sustainability, the readiness of the EU and Latvia for a future with a much higher level of productivity, with a higher quality of life and less negative impact on the environment.