| Issue |
MATEC Web Conf.
Volume 297, 2019
X International Scientific and Practical Conference “Innovations in Mechanical Engineering” (ISPCIME-2019)
|
|
|---|---|---|
| Article Number | 08005 | |
| Number of page(s) | 7 | |
| Section | Industry 4.0: Key Factors in the Development of Mechanical Engineering | |
| DOI | https://doi.org/10.1051/matecconf/201929708005 | |
| Published online | 13 November 2019 | |
Incentives for Promoting Innovation in Engineering
ISMA University, 1 Lomonosova Str., Bld.6, LV-1019, Riga, Latvia
* Corresponding author:: tatjana.odinokova@isma.lv
Engineering is a major industry in Latvian economy. It ranks third (to wood processing and food industry) in the amount of turnover. Due to the inflow of foreign investment, well-educated labor as well as export potential, engineering and metalworking have a promising outlook. However, this industry lacks competitiveness due to cutting investment and development expenses in this sector, as well as low added value. That said, the government should step up its policies to promote innovation activity of machinery manufacturers.
© The Authors, published by EDP Sciences, 2019
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