Daugavpils signs agreements on investment in Latgale SEZ territories
On Tuesday, 16 May, the current government meeting took place in Daugavpils to discuss issues topical for the growth of Latgale region and to bring the government work closer to the public, on Tuesday, 16 May.
The Cabinet of Ministers discussed issues regarding the growth of Latgale region, the development of production and the state road network, the modernisation of higher education management and the development perspectives of Daugavpils City.
After a government meeting involving representatives of both local government and various state institutions and non-governmental organisations, Prime Minister Maris Kučinskis, minister Kaspars Gerhards, with the management of Daugavpils City Council and Latgale Special Economic Zone (Latgale SEZ), visited one of the first entrepreneurs who acquired the status of Latgale SEZ capital company - SIA “EAST WEAR” in the manufacturing industry.
Following a solemn signed contract between Latgale SEZ and three Latgale SEZ companies, SIA “EAST WEAR”, SIA “LīvMet” and SIA “IV PLUS” for investment in a million euros, SEZ's certificates for the right to apply direct tax relief were issued. The first Latgale SEZ companies will be located in Daugavpils, Kraslava and Livani District, which are active in sewing, metalworking and wood processing industries.
“In order to meet high international standards, significant investments will be made in the production process - purchased equipment, improved working conditions, increased number of jobs. By investing, it is planned to develop a production facility in the future, expand activities and, of course, work with profit in the long term. Therefore, the acquisition of Latgale SEZ status and tax discounts will be a good support to the development of the company, which will contribute to further investment and expansion” was recognised BY SIA "EAST WEAR 'Board Member Alexander Zlenko.
AT the time of signing of the contracts, the Minister, MR Gerhards, who stressed: “in implementing the action plan for the growth of Latgale region, we have set up Latgale special economic zone. This initiative has already delivered the first results: 4 entrepreneurs are supported in the 3 months of Latgale special economic zone, which plans to raise EUR 931 thousand of private investment and to create 31 new jobs by the end of 2019. This confirms that entrepreneurs appreciate the possibilities offered by the state to develop entrepreneurship in Latgale region. There is a basis for further development of this region. Therefore, it is essential not to stop the work already achieved and to continue to work to develop the business environment and create new jobs for the people of the region.
In his speech, Jānis Lāčplēsis, Chairman of Daugavpils City Council, pointed out that a significant work on promoting the competitiveness of the region and supporting the business environment is also to be carried out by local governments, as an example of the cooperation of Daugavpils City Council with SIA “EAST WEAR”, which will be further developed in the near future.
Consultation on the conditions for obtaining the status of Latgale SEZ may be obtained by contact with Latgale SEZ administration: e-mail: lsez@latgale.lv, tel.: 26511047.
Oscars Zugickis,
Latgale Planning Region Public Relations Specialist
