BDO Latvia Managing Partner Vita Liberte: Latvia Needs Bolder Business Decisions
BDO Latvia Managing Partner Vita Liberte: Latvia Needs Bolder Business Decisions
Latvia’s business environment is currently undergoing a significant turning point. Although we have repeatedly demonstrated an ability to adapt quickly to crises and disruptions, our economic performance still lags far behind that of more developed countries. In her recent publication for the magazine Ir, BDO Latvia Managing Partner Vita Liberte explains why now, more than ever, the private sector must dare to take bolder steps.
In the article, Vita highlights several critical issues: insufficient investment in technology and innovation, poor data quality and management processes, and companies’ slow response to global trends. Without a clear strategy, modern data solutions, and a willingness to take risks, Latvian businesses will continue to lose competitiveness both in the Baltic region and on a wider European scale.
She emphasises that companies actively embracing AI, digitalisation, and data governance can become more agile, resilient, and significantly more competitive. Meanwhile, the state must create an environment that supports, rather than hinders, such progress, including by reviewing the tax system and contributing to the growth of capital markets.
“The Latvian economy needs a new growth story. We must dare to invest, accept risks, and use digital potential as an opportunity for rapid development,” Vita Liberte notes in the article.
This is an important and timely perspective on how Latvian companies can shift from cautious defence to a proactive growth strategy — and why now is the last moment to act.