The forestry sector will continue to be influenced by geopolitical and economic challenges, while a significant paradigm shift is emerging in the understanding of forest value — from a timber resource to a multifunctional ecosystem, Anita Skudra, Chairwoman of the Management Board of Rīgas meži, told the news agency LETA.
She explained that next year as well, the forestry sector will have to operate in the shadow of geopolitical and economic volatility, as global developments can rapidly affect demand for timber and price levels.
Skudra noted that a paradigm shift in the perception of forest value is becoming increasingly evident in forestry. There is a growing understanding that forests are not merely timber reserves, as society expects forestry to also provide ecosystem services as well as social and recreational benefits.
She pointed out that a key priority in the coming years will be the implementation of closer-to-nature forestry practices, open dialogue with society, and transparent decision-making in forest management.
Skudra predicts that labor shortages in the forestry sector will intensify in the coming years, a challenge that is hoped to be mitigated through the development of new technologies.
This year, she expects more and more companies to invest in new technologies, modernize machinery fleets, and introduce smart systems in logging and logistics.
She emphasized that both state-owned and private forest managers must operate flawlessly and transparently, strictly adhering to principles of corporate governance and effective risk management. This includes clear and fair timber sales processes, honest competition among businesses, financial transparency, and meaningful dialogue with all stakeholders.
As reported, Rīgas meži recorded a turnover of €15.766 million and a profit of €1.373 million in the first nine months of 2024. In the previous year, the company’s turnover amounted to €21.491 million, while profit reached €2.01 million.
Rīgas meži is a municipally owned company founded in 2008. The company’s share capital amounts to €114,817,770. It manages 62,000 hectares of forest, 399 hectares of parks and green spaces in Riga, and is also responsible for the cultural and recreational park Mežaparks.