Smart specialization strategy monitoring: the bioeconomy

Abstract

To achieve the goal of the Latvia 2030 strategy – to be the leader in the EU in terms of preservation, replenishment and sustainable exploitation of natural capital –, it is required to address the role of the bioeconomy in Latvia. In order for the Bioeconomy Strategy of Latvia 2030 (LIBRA strategy) of Latvia to be sustainable and ensure efficient use of natural resources, it is necessary to apply an integrated approach to knowledge-based growth as well as to symbiotically integrate the other areas into agriculture, forestry and fisheries, observing the basic principles of a circular (sustainable) economy. Accordingly, under the Bioeconomy Strategy of Latvia 2030 the rural areas and regions have prospects for development. The research aim is to identify the proportion of the bioeconomy in the economy of Latvia at municipality level.