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Wednesday, 08.05.2024, 23:20
Latgale Special Economic Zone included in the list of free zones
BC, Riga, 11.12.2018.
Print version
Print versionThe government on Tuesday amended the Cabinet of Ministers regulations on free economic zone, including Latgale Special Economic Zone in this list.
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Thus, all the procedures in Latgale Special Economic Zone will be adapted to the same regulations as set in the special economic zones in Riga, Liepaja, Ventspils and Rezekne.
The amendments were necessary because the Cabinet of Ministers on July 17 supported the Finance Ministry’s proposal to establish a logistics center in Paternieki, Kraslava county, close to the Latvian-Belarus border.
The preliminary estimated costs of the first stage of the project are EUR 2.5 million, and financing worth EUR 2,125,000 will be attracted from the European Regional Development Fund. As a result, 37 new jobs will be created and private investment worth EUR 1.42 million will be attracted, also the size of degraded territory will be reduced.
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