The Baltic countries offer solutions for manufacturing and sourcing. Among other things, there is a cultural proximity to Sweden, a population with strong industrial expertise, flexibility in production with lower minimum order quantities than for example in China and most importantly strategically placed logistics hubs.
Many Baltic companies supply the Nordic markets in industrial B2B sales with spare parts, components, tools, innovative materials, while providing efficiency, quality and competitive prices. Swedish companies see the Baltic countries as a solution to diversify subcontracting risks and have additional supply source. Today, there are opportunities to find subcontractors, prototype and establish own production facilities within mechanical engineering, electronics, and food processing.
Another area that sees strong development in the Baltics is industry 4.0.
Due to gradually increasing production costs and increasing levels of employment, companies have begun to understand the importance in digitalization and automation. Moreover, even governments have taken active steps to promote the industry 4.0 transformation in the local manufacturing sectors.
There is potential for solutions that help companies to improve the efficiency and add overall value to production. The most interesting opportunities can be found in the areas of automation of invoicing, task management, proposal writing, equipment management and overall production automation. Other interesting areas for Baltic companies are data visualization, robotics, cyber security and data communication.