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JSC “Latvia's State Forests” Receives the Champion of Innovations 2023 Award

At the awards ceremony of the Export and Innovations Award 2023 competition, companies that have shown outstanding results in exports and promoted innovative product or service solutions were welcomed. This year, for the first time, the Champion of Innovations Award was presented in the group of State capital companies, and it was awarded to JSC “Latvia's State Forests” (LVM) for its innovations in the field of logistics, data processing and drone technology.

“Today's business environment is rapidly changing. JSC “Latvia's State Forests” as a State capital company pays a lot of attention to research and development to provide modern services and effective management of State resources both today and in the near future,” says LVM Board Member Māris Kuzmins.

The Export Champion Award was traditionally presented by the patron of the Export and Innovations Award, President Edgars Rinkēvičs. This year, JSC “Latvijas Finieris” received this award; the company managed to increase its export turnover by 27 % during the year. In turn, the Minister of Economy Viktors Valainis presented the Champion of Innovations Award to the company “Latvijas Mobilais Telefons” for its ability to cover the sea with 5G network coverage and for the development of traffic monitoring technologies. In turn, Altum special award titled Safest Exporter was awarded to LLC “Polystylex”.

Photo by: Latvian Investment and Development Agency.

In this year's competition, awards were presented in five nominations, with the aim of honouring Latvian entrepreneurs who have achieved good results in the production of new and exportable products, the introduction of innovations, the promotion of smart specialization, as well as the creation of exportable, new tourism products.

The Export and Innovations Award 2023 competition is the highest State award in business, organized by the Latvian Investment and Development Agency (LIAA) in cooperation with the Ministry of Economy, the Central Statistical Bureau (CSP), the financial institution “Altum” and the Latvian Exporters' Association “The Red Jackets”.