Rietumu Banka Supports and Participates in the 7th International Economic Forum Organized by the Latvian Academy of Sciences

As a general sponsor, Rietumu Banka supports and will participate in the 7th International Economic Forum, organized by the Latvian Academy of Sciences, taking place from March 7th to 9th at the Latvian Academy of Sciences in Riga.

Organized in cooperation with the Ministry of Economics of the Republic of Latvia, the forum focuses on analyzing the interplay between innovation and ethical responsibility in the rapidly evolving digital economy.

The forum is expected to be opened by the Minister of Economics Viktors Valainis, the Minister of Smart Administration and Regional Development Inga Bērziņa, the Member of the European Parliament Prof. Dr. Inese Vaidere, and the President of the Latvian Academy of Sciences Prof. Dr. Ivars Kalviņš. The forum’s knowledge partners and supporters include the University of California, Berkeley, along with a number of leading institutions from both the public and private sectors in Latvia.

This year’s forum will place significant emphasis on the issues of innovation and ethics. As Dr. Ņina Linde, Director of the Institute of Economics at the Latvian Academy of Sciences, explains: “These are the key concepts of our time. Innovation without ethics can lead to distrust, inequality, and even harm, undermining the very progress we strive for. On the other hand, ethics without innovation creates risks such as stagnation and the inability to respond effectively to new challenges. Therefore, the synergy of innovation and ethical responsibility is the key to successful development in today’s digital world. This approach will foster inclusive, sustainable, and fair growth that benefits society as a whole.”

Rietumu Banka will be represented at the forum by Chairman of the Board, CEO Jeļena Buraja and Member of the Board Sandris Straume, who will contribute to various plenary sessions with their insights on financing innovation and creating value in the creative economy.

“In our opinion, this forum is the most important annual event in Latvia at the intersection of science, innovation, and economic development, bringing together scientific leaders not only from Latvia but also from globally significant research and innovation institutions. Scientific innovations drive economic progress, but this cannot happen without funding and a framework for commercializing ideas. The bank’s goal is to support and participate in this process to create new value for Latvian residents and the economy,” says Jeļena Buraja, Chairman of the Board, CEO of Rietumu Banka.

The forum serves as a networking platform for scientists, entrepreneurs, and policymakers to exchange experiences and foster collaboration, stimulating both local and foreign investments and supporting the long-term development of an innovative economy. As a dialogue and cooperation platform, the forum gathers experts from various countries and fields, including technology developers, finance professionals, academics, and policymakers. Participants will share their experiences and insights through multiple plenary sessions, roundtable discussions, and interactive workshops.