On 26 November, the Cabinet of Ministers approved a new programme of support from European Union funds amounting to more than EUR 27 million, under which companies will be able to receive support for the digitisation of their business processes.

The Ministry of Economics has announced the continuation of a major support programme aimed at digitising the processes of Latvian companies. Under this programme, more than €27 million will be made available to companies to modernise their operations, increase productivity and boost their competitiveness in domestic and international markets.

Digitalisation as the key to growth

Digitalisation is one of the most important tools to boost business growth in today’s changing and technologically advanced business environment. It allows processes to be optimised, manual work to be reduced, production and services to be more efficient and new, technologically advanced solutions to be created. This programme is aimed at supporting companies that want to implement modern digital solutions in their daily operations.

The Ministry of the Economy invites companies to use this opportunity to:

  • Automate and digitise their internal processes;
  • Increase the efficiency and security of data management;
  • Implement modern technological systems in production, logistics and customer service;
  • Strengthen its competitiveness on both the domestic and international markets.

Objective and benefits of the funding

The programme aims to encourage businesses to move to digital solutions that enable them to work more efficiently, reduce operating costs and improve resource management. Digitalisation processes range from the introduction of software to the optimisation of production and operational processes through automation, artificial intelligence, data analytics and other digital tools.

Why apply?

  • Increased productivity: digitalization speeds up processes, reduces the risk of errors and allows more efficient use of resources.
  • Competitive advantage: a modernized operating environment allows companies to adapt to global demands and stand out from the competition.
  • Cost optimization: digitalization helps reduce costs in the long term by automating time-consuming processes.
  • Data security and management: modern solutions allow you to improve the protection of your company’s data and use it for strategic decision-making.

Who can apply?

The support programme is aimed at companies of all sizes and sectors that want to improve their technological capacity and move towards more efficient ways of working. In particular, companies that have already identified areas in need of process optimization and digitization are encouraged to apply. This programme can be an important incentive to make strategic investments in technological development and to achieve new growth targets.

Investing in the future

Digitalisation is an investment in the future of a company that not only increases operational efficiency but also lays the foundations for sustainable growth. The Ministry of Economy underlines that such investments ensure companies’ ability to compete on international markets, promote innovation and strengthen economic resilience. The programme enables companies to work smarter, more flexibly and adapt to global market challenges.

How to apply correctly?

If you think this programme can solve your company’s strategic financing needs, contact us and we will help you understand how the programme fits in with your company’s development. There are different programmes available. We will find the best scenario for you during the consultation.