Rezekne SEZ is named as one of the most promising economic areas of the world

In October 2019, a survey conducted by FDI Magazine in the “Financial Times” section of the popular British newspaper on the world's most promising economic zones in Rezekne's special economic zone (Rezekne SEZ) has gained recognition in three categories: “Expansions”, “talent” (Talent Pool), “incentives” (incentives) – says Sandra Ežins, head of the Rēzekne SEZ administration.
the “FDI Magazine” Study “Global Free zones of the Year Awards 2019” was invited to apply for free/special economic areas from around the world by submitting a report on the attractiveness, opportunities and supply of the area to investors. This year, the jury evaluated 85 applications in total, including three Latvian Free Zones – Rēzekne SEZ, Ventspils Free Port and Liepaja SEZ.
In the “Expansions” category, Rezekne SEZ has gained recognition in view of the activities of THE wood processing company “VEREMS” RSEZ SIA, which launched a significant expansion project in 2018, which is planned to build production facilities in the area of 10 000 m2, which will allow the production of veneer to be increased from 46 thousand to 85 thousand cubic metres by 2022.
Along with the Tarakley Free Economic Area (Moldova), the Pirota Free Zone (Serbia) and the Zoharoo Free Zone (Oman), Rezekne SEZ has gained recognition in the category “incentives” (incentives). Experts have appreciated the competitive costs offered by Rezekne SEZ, a favourable tax regime and a number of state aid instruments, including in particular the possibility of obtaining an 80-100% real estate tax rebate, as well as free customs areas that facilitate service/goods logistics IN THE EU.
Rezekne SEZ has received the special award for the first time in the Talent Pool category. Experts noted that Rezekne SEZ offers investors access to a well-educated and highly qualified talent fund. The Rēzekne Technology Academy and the Rezekne Technical School prepare graduates in a wide range of areas including technologies, engineering, mathematics, economy etc. The region is characterised by a multilingual Community, and approximately 70% (age group up to 40) is well managed by English.
“FDI Magazine” expert recognition is an important evaluation of our performance, which serves as proof to our investors that Rezekne SEZ is a reliable and powerful partner who provides support to the interests of entrepreneurs in the most appropriate and advantageous way, ”says Sandra Ežins, head of the Rēzekne SEZ administration.
“FDI Magazine” is a product of the Financial Times analytics department specialising in the promotion of foreign direct investment. The journal readers are active investors and high-level managers whose task is to collect analytical information and decision-making. A number of significant ratings are published in each FDI Magazine number, including the world's free economic zone rating.
Results of the study are pieejami here: https://www.fdiintelligence.com/Locations/Middle-East-Africa/UAE/fDi-s-Global-Free-zones-of-the-Year-2019-the-winner
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Regarding the special economic zone of Rezekne:
Rezekne SEZ was established in 1997 on the basis of “Rēzekne Special Economic Zone Act”. This Law prescribes the procedures for the administration and utilisation of Rezekne SEZ, requirements for the performance of commercial activities and investments, as well as the functions and tasks of the Rēzekne SEZ administration.
The Law on the Application of Taxes in Free Ports and Special Economic Zones is laid down in the Law on the Application of Tax Facilities in Free Ports and Special Economic Zones. The capital companies registered in Rezekne SEZ may receive both direct tax discounts (real estate tax, corporate tax) and indirect tax relief, forming the free areas of Rezekne SEZ, as well as making investments. Tax relief for Rezekne SEZ will be applicable until 31 December 2035.
The total area of Rezekne SEZ is 1155 ha, which includes the administrative territory OF the municipality of Rezekne and Rezekne, Vērēmu, Griškānu and Ozolaines parish. With the status of Rezekne SEZ, 19 commercial companies are active in early 2019.
More information on Rezekne SEZ is available at: www.rsez.lv.
Prepared by:
Liene Burova,
Rezekne SEZ Management Project Manager
Phone (+371)24428648, e-mail address: invest@rsez.lv