Industry 4.0 technologies are rapidly penetrating manufacturing and social spheres, causing irreversible changes in the procedural and organizational structures of individual organizations and society. To cope successfully with current and future changes, countries must create the necessary preconditions, which include political will expressed in legislative initiatives and strategic plans, public awareness of new technologies, modernization of the educational process and active research activities directed towards the creation of innovative solutions based on Industry 4.0 technologies. This paper presents the results of desk research made to understand the current situation of awareness and development of Industry 4.0 in Latvia. It covers aspects related to statistics and economic indicators of digitalization level, national strategic planning and policy documents, educational events and projects relevant in the context of Industry 4.0. Moreover, the paper summarizes knowledge and skills that should be purposefully developed to support the successful introduction of Industry 4.0 into the economics and the industrial competitiveness of the country.