Knowledge-intensive bio-economy

Success in the knowledge-intensive bio-economy stems from a synergy of science and industry. It integrates sustainable practices in forestry, wood processing, agriculture, and fisheries, along with advancements in biotechnology and innovative food production, to generate high value-added outcomes.

Latvia’s knowledge-intensive bio-economy is driven by centres of excellence such as the Latvian Biomedical Research and Study Centre (BMC), the Latvian State Institute of Wood Chemistry (LVKĶI) and academic programmes at institutions such as the Latvian University of Life Sciences and Technologies (LBTU), the University of Latvia (LU) and Riga Technical University (RTU). Knowledge-intensive bio-economy involves the sustainable use of renewable biological resources through scientific innovation to create economic value in sectors such as agriculture, healthcare, energy and manufacturing. It emphasises biotechnology, interdisciplinary research and the development of environmentally friendly bio-based products and services.

For more information, please visit invesinlatvia.org | Key sectors – Bioeconomy

Industry Focus

• Biorefinery ecosystem
  On June 2024, 22 companies and organizations signed the Memorandum of Understanding (MoU) to establish a new biorefinery ecosystem in Latvia, which is crucial in advancing the bioeconomy. The MoU fosters good governance and initiatives to create new value chains from locally sourced bio-based materials, focusing on final products in Latvia. The bioeconomy is currently the most significant contributor to Latvia’s manufacturing industry. In 2023, its total exports reached €7.86 billion, nearly doubling since 2014. This sector supports 125,000 jobs and holds immense potential for furthering Latvia’s economic development. More information: Biorefinery ecosystem – on June 2024, 22 companies and organizations signed the Memorandum of Understanding (MoU) to establish a new biorefinery ecosystem in Latvia, which is crucial in advancing the bioeconomy. The MoU fosters good governance and initiatives to create new value chains from locally sourced bio-based materials, focusing on final products in Latvia. The bioeconomy is currently the most significant contributor to Latvia’s manufacturing industry. In 2023, its total exports reached €7.86 billion, nearly doubling since 2014. This sector supports 125,000 jobs and holds immense potential for furthering Latvia’s economic development.
• Forestry and Biomass
  Latvia has about 3.3 million hectares of forest, which is a significant source of biomass. The forestry sector is a major contributor to Latvia’s bioeconomy, focusing on sustainable forest management and the development of innovative wood products
• Agricultural Land and Biomass Production
  Latvia has a high potential of agricultural land per capita, approximately 1.04 hectares, conducive to biomass production. The total agricultural area in Latvia is approximately 1.97 million hectares, representing 30.5% of Latvia’s territory. Of this, 14.5% is organically farmed. The agricultural sector is being modernized through the integration of biotechnologies, plant breeding, crop diversification, and sustainable horticultural practices.
• Biomass from Agricultural, Animal, and Fish By-Products
  Latvia has significant potential for biomass production from agricultural, animal, and fish by-products. Animal by-products account for about 6% of total biogas production in Latvia.
• Biotechnologies and Bio-based Products
  Latvia is focusing on the application of biotechnologies to produce bio-based chemicals, pharmaceuticals, bioplastics, and other innovative bio-products.
• Research and Development
  the Latvian Institute of Organic Synthesis (LIOS) collaborates with world-renowned scientific institutions and companies, driving innovation in organic chemistry and biotechnology. The Latvian Biomedical Research and Study Centre (LBMC) is the largest molecular biology and biomedical research center in Latvia, conducting advanced research in areas such as human genetics, cancer biology, and biotechnology.