Honorable Minister, ladies and gentlemen,
This morning, I would like to briefly review the progress of the European Recovery and Resilience Mechanism at both the EU level and in Latvia.
Security and competitiveness remain top priorities on the EU agenda amidst growing geopolitical challenges.
Recent meetings of EU leaders focused on enhancing security measures in response to threats like Russias aggression in Ukraine.
Increased competition in key technologies such as AI is crucial for Europes future security and competitiveness.
The EUs economy is lagging in productivity growth compared to major economies like the US and China, making competitiveness a top priority.
The European Commission has introduced the Competitiveness Compass to boost productivity and growth over the next five years.
The Compass focuses on closing the innovation gap, aligning decarbonization with competitiveness, and reducing reliance on critical raw materials.
Reducing bureaucracy is critical, with a target to cut administrative burdens by at least 25% overall, and 35% for SMEs.
The Recovery and Resilience Mechanism has supported significant public investments across the EU, aiding in green and digital transitions.
In Latvia, investments have modernized public administration, enhanced regional development, and improved education and healthcare.
With nearly two billion euros available to Latvia under the plan, significant progress has been made.
The Commission continues to support Latvias recovery efforts, ensuring projects are implemented by the 2026 deadline.
The successful synchronization of the Baltic electricity system with the European network marks a historic achievement.
This conference allows us to discuss progress and refine future plans for rapid implementation.
The European Commission remains committed to providing necessary support.
I wish Latvia success in achieving its reform and investment goals, improving the quality of life for its citizens.
Thank you for your attention!