Translated using ChatGPT service.
On 29 September in Brussels, the Parliamentary Secretary of the Ministry of Economics, Jurģis Miezainis, represented Latvia at the meeting of the EU Competitiveness Council.
One of the central topics was the establishment of the European Competitiveness Fund (ECF). Latvia generally supports the ECF as a single instrument combining up to 14 different EU programmes, while emphasising the importance of preserving the focus of existing programmes. The Fund is intended to strengthen the EU’s competitiveness in strategically important sectors by supporting projects and companies, particularly start-ups and small and medium-sized enterprises.
“Europe must not be allowed to develop at different speeds. The Single Market is our greatest asset, and the differences between Member States are our strength, not our weakness. Funding must be used in a way that turns these differences into a shared advantage and helps Europe become a leading global economic power,” stressed Parliamentary Secretary J. Miezainis.
The Council meeting also reviewed progress in reducing administrative burdens and implementing the Single Market Strategy, which will significantly promote digital transformation and improve the business environment across the EU.
Latvia agrees to join the declaration calling for a review of the EU Chips Act. The declaration defines three strategic objectives – prosperity, sovereignty and resilience. At the same time, it sets out recommendations in five key policy areas: an ecosystem approach, public and private investment, talent development, sustainability and international cooperation.
Latvia is strongly committed to developing microelectronics together with other EU countries, as progress in this sector is vital for both technological independence and security. Joining the declaration will serve as a positive signal to foreign investors interested in developing microchip-related business in Latvia.