The paper is devoted to the digital transformation of the core engineering maintenance processes involved in medium-voltage overhead distribution network infrastructure inspection. The study presents an analysis of digital twin utilization for inspection of the infrastructure of medium-voltage overhead distribution networks. At present, the infrastructure monitoring process is still manual, and its automatization is a challenging task due to the large distances between and small dimensions of the elements involved. The proposed digital twin is employed for 3D infrastructure modeling and complex analysis based on photogrammetry and aerial scanning data processing methods. The paper describes practical use cases for these data-driven methods for specific infrastructure management processes, e.g., scheduled inspection processes, including geometrical parameter measurements and visual infrastructure element defect identification, unplanned inspection processes (state of emergency, post-storm, etc.), and vegetation management processes. The proposed method allows operations to be performed remotely without physical presence in the field. At the same time, data-driven solutions provide objective results and potential automation via machine learning algorithms, which are more profitable economically. As the proposed method allows processes to be performed remotely, these data-driven solutions offer cost-effective results for automation. The digital twin concept is applied to the Latvian medium-voltage overhead distribution network with the support of the Latvian distribution system operator “Sadales tīkls” JSC.

The availability of funding is one of the key problems in the small and medium-sized business not only in Europe but also all over the world economic space. The lack of funds results in the starvation of the economy preventing it from full-fledged development. The aim of the research is to analyze the factors that interfere with the availability of funding to the small and medium-sized companies, by developing the profiles of SMEs and to give recommendations for the more effective raising of funds. During the research the following research methods were used: the generally accepted quantitative and qualitative research methods in economics, including the comparative analysis and synthesis and graphical depiction. The results of the analyses will be discussed and recommendation will be provided for policy makers and academician in the last section.

In recent years, international financial centres have become one of the most important elements of the international financial system. Increasing globalization of the world economy raises the role and influence of international financial centres (IFC) due to extending scope of activities of IFC that currently includes financial markets, international financial and lending relations, insurance, etc. Financial centres make a substantial contribution to the overall economic development and growth of the country. The establishment and development of financial centres is a quite complex and complicated process that combines various historical, geographic, social, economic and political factors. The establishment of international financial centres is related to financial liberalization processes as well as globalization of the financial market. According to the history of financial centres, a number of factors contribute to their establishment and development: geographic location, multicultural factors, liberal legislation, stimulating tax and customs policies, immigration legislation, competitive costs of financial services, etc. However, it is not always that financial centres are established in places with favourable economic, political and social factors. It requires both a combination and interaction of different factors, as well as political will and success. The aim of the paper is basing on the examination of the factors influencing establishment of IFC, to analyze the directions of the competitiveness enhancement of Riga International Financial Centre by identifying its potential niche. The following research methods have been used in the paper: generally accepted quantitative and qualitative methods of economic research, including comparative analysis and synthesis, graphic methods, expert methods, SWOT analysis.

Despite extensive regulatory harmonisation under the European Capital Markets Union (CMU), equity market development in several peripheral EU economies remains critically weak. While institutional infrastructure exists, issuer participation in public markets remains limited. This study aims to determine the capital market potential by assessing issuer-side financial readiness, with a specific focus on Latvia as a representative small EU, bank-dominated capital market. The study adopts a mixed-methods research design. Quantitatively, fuzzy c-means clustering is applied to firm-level financial statement data for 4070 Latvian non-financial companies for the period 2022–2023 to identify latent groups of potential equity issuers based on turnover, EBIT, equity, and employment size. Qualitatively, an expert-peer forum and a PESTEL framework are used to analyse institutional, political, economic, and behavioural barriers to IPO participation. The clustering analysis identifies 49 firms with comparatively strong financial and organisational characteristics consistent with potential issuer readiness; the analysis does not assess their willingness or complete organisational preparedness to undertake an IPO. Despite this latent issuer potential, Latvia recorded only two IPOs in 2024. The results show that Latvia has a critical mass of financially viable potential issuers, while IPO inactivity is driven by several factors. Qualitative findings reveal that issuer participation is constrained primarily by entrenched bank-financing dominance, disclosure aversion, weak political market signalling, low financial literacy, and insufficient market liquidity rather than by a lack of financially capable firms. The findings highlight several policy implications for increasing capital market potential, including targeted support to improve firms’ readiness for public issuance, selective listings of state-owned enterprises to strengthen market signalling, and initiatives to improve financial literacy and enhance equity investment culture.