Global researchers, Entrepreneurs, Healthcare Experts, Policy Makers, International Organization Chiefs, Social Reformers, Media Experts among others to address at the much awaited VI International Economic Forum at Riga, Latvia. The University of Berkeley (The University of California, Berkeley) & the Latvian Academy of Sciences are the knowledge partners of the international economic forum currently in its 6^th glorious years. Some of the notable speakers of eminence like Prof Solomon Darwin,Dr. Kannan Wishwanatth,Dr. Raj Kumar Songa,Dr. Asta Pundziene,Dr. Kunsulu Zakarya,MBA Cyril Golub, Prof Abdraim Bakytzhan,Dr. Shahlo Turdikulova,Prof.Jo Cramer,Dr. Satya Brahma,Dr. Anthony Giannoumis, Prof. Bao Leiping,Mr. Gerald Hoppstaedter,Dr.Baiba Rivza,Dr. Pamela Bernabei,MBA Oskar Stachowiak will be sharing their thoughts in the two day long program in Plenary Session & Panel Discussions.

Dr. Nina Linde, Director of the Institute of Economics of the Latvian Academy of Sciences, the brain behind organizing the international economic forum said “At a time when the world is grappling & witnessing with serious economic challenges, gender inequality, Cold War-era system, territorial acquisition against the territorial integrity & sovereignty or political independence of any state, there is an urgency for open innovations to debate crucial issues & find solutions for  international economic cooperation. Russia’s invasion of Ukraine has radically changed NATO’s security environment. The renewed sense of threat is perhaps most acute among the three Baltic members―Lithuania, Latvia, and Estonia―which have long been vulnerable to Russian aggression. For a third of the global economy, 2023 is going to be a tough year as the main engines of global growth – the United States, Europe and China – all experience weakening activity. The aim of the VI Economic Forum is to key explore principles such as multilateralism, inclusive growth, sustainable development, and digitalization in the context of global governance and international cooperation. The discussions & deliberations at the forum will be the first serious holistic Economic resilience agenda that will prepare a blueprint for the vision 2027. Global conflict, economic challenges in the Baltic States, energy uncertainty, food shortages, accelerating inflation, severe climate & environmental challenges are top of the agenda at the VI International Economic forum. I strongly believe that there is a great need for collaboration: all stakeholders have to play their part in overcoming the threat and consequences of the present economic, geo political challenges & foster an era of co-operation, free trade & commerce & accelerate the pace of innovations in all sectors”.

The International Economic Forum is being held for the sixth year. The event is organized by the Institute of Economics of the Latvian Academy of Sciences. The activities of the Institute are aimed at studying economic issues significant for Latvia, searching for and creating innovative and scientifically proven solutions. At present, the Institute is one of the leading economic research centers with extensive partnerships in Europe and other countries. The mission of the Institute is to contribute to the development of the Latvian economy by introducing recommendations for the government, local governments, and public and private sectors of the Republic of Latvia based on research, competent assessments, and expert opinions. As a result of the forum, recommendations will be prepared for the development of the innovative economy of Latvia.

More information about the forum and registration: www.economicforum.lv . Information for the media: Institute of Economics of the Latvian Academy of Sciences, Renars Raubiskis, +371 20207092.

The Institute of Economics of Latvian Academy of Sciences is all set to host its flagship Annual Event VI International Economic Forum with an aptly theme “Open Innovation: From the Creativity of the Individual to an Innovative Science-Based Economy” in Riga, Latvia on 22 September 2023. EQUALS-EU, Europe’s Regional Partnership for Gender Equality in the Digital Age promoting gender equity through social innovation and entrepreneurship representing a consortium of 19 organisations from 15 EU Member States and two non-European consortium members from the Global North and Global South (including UNU Macau) will be culminated in its final conference through its project partner Institute of Economics of the Latvian Academy of Sciences on 22 September 2023. Leading & prominent faces from academics, research, politics, science, business & philanthropy will gather together to debate Open Innovations. The forum will be attended by scientists, entrepreneurs and investors, politicians, representatives of local governments and ministries, representatives of embassies, journalists.  

Dr Nina Linde, Director at the  Institute of Economics of The Latvia Academy of Science said, the deliberations & discussions at the VI International Economic Forum propose an uninterrupted economic reforms to address long standing Challenges in the Baltic Nations & will initiate time bound sustained campaign for the Economic Challenges. The discussions & deliberations at the forum will be the first serious holistic Economic resilience agenda that will prepare a blueprint for the vision 2027. Global conflict, economic challenges in the Baltic States, energy uncertainty, accelerating inflation, gender inclusivity, silver economy, transfer of scientific developments, technologies and innovations on the market are top of the agenda at the VI International Economic forum are top of the agenda at the VI International Economic forum. I strongly believe that there is a great need for collaboration: all stakeholders have to play their part in overcoming the threat and consequences of the present economic, geo political challenges & foster an era of co-operation, free trade & commerce & accelerate the pace of innovations in all sectors. The Institute of Economics of the Latvian Academy of Science is committed & our continued focus is to help create positive, enduring change in the world. We aspire to do this by accelerating sustainable and inclusive growth through direct and measurable impact, attract global investments, create favourable & hassle-free environment to create industries in Baltic Nations in General & Latvia in particular.  

Member of the European Parliament, Member of the Committee on Economic and Monetary Affairs, prof. Dr. Inese Vaidere, Minister of Economics of the Republic of Latvia Ilze Indriksone ,Minister of Education and Science of the Republic of Latvia Anda Caksa, President of the Latvian Academy of Sciences prof., Dr. Ivars Kalvins,Director of the Institute of Economics of the Latvian Academy of Sciences, assoc. prof., Dr. Nina Linde will be sharing their thoughts in the inaugural session.

About Institute of Economics of the Latvian Academy of Sciences

Institute of Economics of the Latvian Academy of Sciences is registered in the Register of Scientific institutes of the Ministry for Education and Science of the Republic of Latvia as a scientific and research institution.

Institute of Economics of Latvian Academy of Science is one of the leading research centres for economy, entrepreneurship and society development issues in Latvia with wide partnership links in European and other countries of the world and able to provide a research based, competent opinion about ongoing processes in the economy and social development of Latvia, Baltics and Europe, as well as to note the future progression.

The mission of the Institute is to facilitate the development of Latvian economy in the regions and in the country as a whole, through preparations of research-based competent assessments and opinions on ongoing processes in the economy of Latvia, Baltics and Europe, as well as elaborating recommendations related to development opportunities of economy.

More information about the forum and registration: www.economicforum.lv. Information for the media: Institute of Economics of the Latvian Academy of Sciences, Renars Raubiskis, +371 20207092.

For two days, the Latvian Academy of Sciences will turn into a world-class center of expertise: outstanding scientists, entrepreneurs, and public figures will meet at the VI International Economic Forum. Over 20 panel discussions will be held during three plenary sessions on the most relevant topics: how to get access to the world’s best technologies and competencies? How to increase the effectiveness of open innovation in practice? How to choose effective tools for open innovation? How to promote the development of creativity and motivation at schools, universities, and enterprises? Also on the agenda are other actual themes that are designed to respond to the global challenges of the modern economy…

“The VI International Economic Forum is an authoritative and competent platform, which not only has a leading position in the Baltic and Northern European countries but also intends to take one of the most prestigious positions in the EU. The purpose of the forum is to promote the development of the business environment by drawing more attention to the study of obstacles that hinder the growth of entrepreneurship, as well as providing evidence-based recommendations for improving public administration and business support. The forum serves as a platform for sharing best practices and cooperation between scientists, entrepreneurs, and politicians, stimulating the inflow of local and foreign investment, and developing an innovative national economy in the long term. It is important that the forum and the Latvian Academy of Sciences, in such a difficult geopolitical environment, become a bridge that brings together researchers, investors, and experts from the EU, Central Asia, the USA, India, as well as government officials. We are united by the belief that today’s global challenges, if properly assessed and approached promptly, provide an opportunity to build a better future in all sectors of the economy and countries,” says Dr. Nina Linde, Director of the Institute of Economics of the Latvian Academy of Sciences.

This year, the forum’s scientific partner is the University of Berkeley (The University of California, Berkeley). Today, the American research university is the best in the world and tops all world scientific rankings. The university is world-famous as one of the best specialist training centers in computer and information technologies, economics, law, business, physics, chemistry, and biology. As of 2022, 114 Nobel Prize winners have been affiliated with UC Berkeley. It is also known for its research programs, innovation, and contributions to technology. Scientific research and academic achievements of the university have a significant impact on world science and society.

Prof. Dr. Solomon Darwin, Director of the Garwood Center for Corporate Innovation, will represent the University of Berkeley at the VI International Economic Forum. In his speech, he will present a topic about innovative business models in modern society.This year, the forum partner is the Latvian innovation company FIXAR, a leading developer of software and design of commercial autonomous unmanned aerial vehicles for industrial applications. A separate section of the forum will be devoted to the development of Latvia’s drone economy and the topic ” Aerospace technologies as a driver of innovative economy in Latvia and beyond.”

One of the significant reports (topic: ” Time for Open Innovations”) will be presented by Dr. Kannan Vishwanath, Doctor (Dr.h.c.) of Economics from the Latvian Academy of Sciences, chemical engineer, and corporate researcher (Hong Kong/Latvia). President of the A. Meneghetti Foundation for Scientific and Humanistic Research (Switzerland/Italy) Pamela Bernabei will introduce the forum participants to the latest scientific discoveries on the topic “Creativity and business intuition as a source of innovation”. Professor of the University of Oslo, coordinator of the EQUALS-EU project (European Regional Partnership for Gender Equality in the Digital Age) Joe Kramer will talk about the approaches to increasing the potential for gender-inclusive innovation in Europe and beyond.

Among the speakers and moderators of the forum there is a whole “constellation” of politicians, scientists, and entrepreneurs: Deputy Minister of the Higher Education, Science and Innovations of the Republic of Uzbekistan, Dr. Shakhlo Turdikulova, experienced in developing innovations at the state level; President of the “National Academy of Sciences of the Republic of Kazakhstan” and inventor of the national vaccine against Covid-19 “KazVak” Professor Kunsulu Zakaria; Academician of the National Academy of Sciences of the Republic of Kazakhstan and representative of the Astana International Financial Center prof. Abdraim Bakytzhan; Chairman of the Board of the Latvian Business Angels Network (LatBAN) and winner of the Business Angel of the Year 2022 award Kirill Golub; entrepreneur and investor Gerald Hoppstedter (Austria/Latvia); international investor in the field of innovation Konstantin Sinyushin (Latvia/Luxembourg); social entrepreneur and healthcare innovation expert, researcher at the Garwood Center for Corporate Innovation at the University of California at Berkeley –  Dr. Raj Kumar Songa; head of the Budget Commission of the Latvian Parliament Janis Reirs; professor, academician of the Latvian Academy of Sciences Baiba Rivza; Chairman of the Inclusive Creativity Council, social entrepreneur, Dr. Anthony Jannumis (Norway); Chairman of the Board of Media Group Network 7 Dr. Satya Brahma (India) and other prominent guests.

The International Economic Forum is being held for the sixth year. The event is organized by the Institute of Economics of the Latvian Academy of Sciences. The activities of the Institute are aimed at studying economic issues significant for Latvia, searching for and creating innovative and scientifically proven solutions. At present, the Institute is one of the leading economic research centers with extensive partnerships in Europe and other countries. The mission of the Institute is to contribute to the development of the Latvian economy by introducing recommendations for the government, local governments, and public and private sectors of the Republic of Latvia based on research, competent assessments, and expert opinions. As a result of the forum, recommendations will be prepared for the development of the innovative economy of Latvia.

More information about the forum and registration: www.economicforum.lv

Information for the media: Institute of Economics of the Latvian Academy of Sciences, Renars Raubiskis, +371 20207092.

The Baltic states most awaited prestigious international economic forum will be organising the 6^th International Economic forum by The Institute of Economics of the Latvian Academy for Sciences under the theme “From The Creativity Of An Individual To An Innovative Science Based Economy” at the Latvian Academy of Sciences,Akadēmijas laukums 1, Riga, Latvia on September 21-22, 2023. Latvia along with Estonia and Lithuania are the members of NATO, the European Union, the Eurozone, and the OECD. Dr Kannan Vishwanatth has been invited to speak on the urgency of Open Innovations & the power of open minds &  how open innovation offers benefits for all including enterprises, institutions.

The Economic Forum will witness the participation of top entrepreneurs, academic professionals, researchers, Policy makers & industry leaders. Top thought leaders of the contemporary think tank such as Prof. Solomon Darwin, Prof Dr Inese Vaidere, Ilze Indriksone, Anda Caksa, Dr Ivars Kalvins, Dr. Nina Linde, Dr. Raj Kumar Songa, Prof. Dr. Asta Pundzienė, Dr Baiba Rivza  among others to brainstorm on Open Innovations at the Institute of Economics of the Latvian Academy of Sciences on September 21-22, 2023 at Riga Latvia.

Speaking on this Dr. Kannan Vishwanatth said “Open innovation, the practice of collaborating with external entities to co-create new value, has become essential to business success. As organizations face a slew of challenges ahead of them, especially the issue of sustainability, they will need to harness the potential of open innovation to shorten organizational response time and capitalize on future opportunities. Today’s market dynamics present a critical opportunity for business leaders to revisit their strategies. The need for enterprises to be fast, agile, responsible, and innovative is not an option – it is a must. Yet innovation is too often seen as a separate effort, rather than a core element of the business.Amidst the gloom and doom of the early months of the Covid-19 crisis, something surprisingly uplifting started to happen: Companies began to come together to work openly at an unprecedented level, putting the ability to create value before the opportunity to make a buck”.

Urgency leads transformation. Artificial intelligence is at the center of the global technological revolution Science, technology, and innovation are cornerstones of the American economy. They are also dominant forces in modern society and international economic development. Strengthening these areas can foster open, transparent, and meritocratic systems of governance throughout the world.

Dr Nina Linde, The Institute of Economics of the Latvian Academy for Sciences while announcing the event said “The aim of the VI International Economic Forum is to analyse the role of human creativity and the potential of international ecosystems for the development of open innovations, as well as to present the world’s best practices and evidence-based, practical solutions to achieve a higher level of well-being in our globalised society. The successful practice of five previous Economic Forums is continuing, that the Forum serves as a platform for the exchange of experience and cooperation of scientists, entrepreneurs, and politicians, stimulating the entry of local and foreign investment and the development of an innovative economy in the long term”.

Dr Kannan Vishwanatth is an internationally recognised leader on strategy of business innovations in chemical & pharmaceutical research with an enviable track record of creating sustainable open innovations in enterprises & institutions to improve existing offerings and develop new ones, create new business models, and ensure more efficient spending in R&D.

Prof. Dr. Kannan Vishwanatth a passionate researcher with about 24 years’ experience in Pharmaceutical and International Trade . He has Received The Albert Schweitzer Medal For Science , The Malcolm Adiseshiah Award for Distinguished Studies 2020 and The Dr APJ Abdul Kalam Excellence Award For Medicine . He Was Awarded the Academic Professional Award at American College of Dubai in UAE .He has co- authored and filed 15 world patents on products and various non infringing process in Anti Malarial and Anti Cancer products from Herbal Extracts with expertise in Licensing, Business Development, API, Generics, Finished Doses. Dr. Kannan Vishwanatth is a global Citizen & a strong believer in Corporate Social Responsibilities. Dr. Kannan Vishwanatth is a top academic researcher at the Garwood Innovation Fellow at Garwood Centre of Open Innovation, Haas School of Business Berkeley University of California & the Member of Council at the Institute of Economics of The Latvian Academy of Sciences Riga. Dr. Vishwanatth further pursues higher studies at the University of Azteca European Programs. Having mastered Chemical Engineering, Vishwanath started his entrepreneurial journey a decade ago and formed a successful mid-sized pharmaceutical company with a major thrust on API (Active Pharmaceutical Ingredient). Dr. Kannan Vishwanatth has recently floated Rupus Global Herbal & Research & Development Institute Limited, an independent herbal research firm that will function as a pioneer institute in the area of research, education, conservation, and popularization of Ayurveda medicinal plants.

The Institute of Economics of Latvian Academy of Sciences (Institute) is registered as a scientific and research institute in 2006. The action and activities of the Institute are oriented to studying of economic problems significant for Latvia, seeking and creating innovative and scientifically based solutions. At present, the Institute is one of the leading research centres for economy with wide partnership links in European and other countries of the World and being able to provide a research based, competent opinion about ongoing processes in the economy of Latvia, Baltics and Europe, as well as to note the future progression. The mission of the Institute is to facilitate the development of Latvian economy in the regions and in the country as a whole, preparing based on researches, competent assessments and opinions on ongoing processes in the economy of Latvia, Baltics and Europe, as well as elaborating recommendations related to development opportunities of economy.

However, the percentage fell by five percentage points in Lithuania this winter compared to a year ago, but rose by twelve points in the bloc on average, according to the Eurobarometer report presented by the European Commission Representation in Lithuania on Tuesday.

The economic situation was named by 23 percent of respondents as the next most important issue facing the country (compared to the EU average of 19 percent), followed by energy supply (19 percent both in Lithuania and the EU), the international situation (17 percent and 10 percent), taxation (14 percent and 5 percent), and health care (11 percent and 14 percent).

Seventy-seven percent of Lithuanians said they were satisfied with the life they lead, compared to 83 percent in the EU on average, just over 80 percent in both Latvia and Estonia, and 90 percent in Poland.

Lithuanians’ expectations for the next 12 months improved slightly compared to the winter of 2022, but are still far from the highs recorded in 2006.

Twenty-eight percent of respondents in Lithuania and 25 percent in the EU on average believe that their life in general will improve in the next 12 months.

The Eurobarometer survey was carried out in all EU countries between January and February, with 1,003 people aged over 15 interviewed in Lithuania.

These threats have only escalated since Russia’s invasion of Georgia in 2008 and the annexation of Crimea from Ukraine in 2014. In this context, it is vital that the United States firmly recommit to NATO and increase its support of the Baltic countries to ensure the continuation of strong bilateral relations and the effective partnerships that have strengthened the entire transatlantic community.

Membership in NATO, a long-time aspiration for the Baltics, required that they undergo robust changes, and the subsequent reform process served as a key element for strengthening bilateral relations with the United States and a foundational pillar of transatlantic security. Since their accession in 2004, Latvia, Lithuania, and Estonia have been responsible members of, and active contributors to, the NATO alliance. Despite the size of their national military forces, each country has actively supported regional security in Europe and participated in global NATO activities, including contributing troops to missions in Afghanistan. By 2019, all three countries increased their defense spending to the recommended two percent of their overall national budgets.

This upwards trajectory has resulted in vital support from the international community. At the 2016 NATO Summit in Warsaw, Poland, NATO reaffirmed its support for the Baltics by introducing Enhanced Forward Presence (eFP) units to all three Baltic states as well as Poland. NATO also now provides fighter aircraft to the Baltics, which have been increased following the 2014 Russian invasion of Ukraine.

Unfortunately, the non-permanent nature of these programs is not sufficient to guarantee the full military capabilities of the Baltics nor to bring peace of mind to its citizens. Given increased Russian presence in the region, each country must rely heavily on the collective defense agreement of the North Atlantic Treaty if it hopes to stand a chance against foreign interference. The United States together with its European partners and the international community must do more to prevent such foreign interference and ensure that the Baltic states are fully equipped with the tools and support structures that underpin their security.

To date, the United States has demonstrated its support for the Baltic region through the US-Baltic Charter, an alliance of values among the countries signed in 1998. The signatories agreed to a shared vision “of a peaceful and increasingly integrated Europe, free of divisions, dedicated to democracy, the rule of law, free markets, and respect for the human rights and fundamental freedoms of all people.” The Charter’s emphasis on the vitality of independence and territorial integrity established grounds for a prosperous partnership and paved the way for Baltic integration into NATO. It provides an established path to follow for re-engaging with our allies and strengthening this vital transatlantic partnership. Perhaps even more so than in any recent year, this mission remains relevant and timely.

Latvia, Lithuania, and Estonia have strongly demonstrated their dedication to the transatlantic alliance and have worked diligently to implement systematic reforms on a variety of shared concerns ranging from energy security, transparency, and economic vitality.

It is therefore highly unfortunate to witness recent statements and actions taken by US President Donald Trump that do not appear to recognize these important achievements nor the Baltics’ role as vital allies. Recent public comments by the president and in private conversations reported by former National Security Advisor John Bolton indicate that rather than strengthening and appreciating the value of the NATO Alliance, if elected to a second term, President Trump may wish to pull the United States out of the North Atlantic Treaty. This has not gone unnoticed by our European friends. A recent New York Times article notes analysis by the Atlantic Council’s Jorge Benitez that some European officials “see the escalation of negative steps, and they are definitely concerned that that negative pattern could continue if Trump is re-elected.” This concern is not only worrying to Europeans but also to many leaders in the US Congress. Senator Jeanne Shaheen (D-NH), a senior member of the Senate Committee on Foreign Relations warned in the same article that “withdrawing from NATO would be nothing short of catastrophic.”

The United States has profound interests in maintaining NATO and the sovereignty and security of the Baltic region. Now is the time for the United States to rise to this leadership role by deepening our commitment to NATO and supporting the Baltic countries to foster a strong and united transatlantic community. There exists today the opportunity to work on a new US-Baltic Charter to address today’s challenges. These could include promoting democracy, free and fair elections, and freedom of the press in the region; combating disinformation; expanding bilateral trade and investment between the United States and the Baltics; and supporting nations that wish to join the Euro-Atlantic family. Just as in 1991, a show of solidarity by the United States can help strengthen and protect the Baltic States, allowing them to continue to grow and faithfully contribute to the transatlantic community.

Sally A. Painter is chief operating officer of Blue Star Strategies, LLC, an Atlantic Council board director, and a senior adviser to the Atlantic Council’s Future Europe Initiative.