To promote entrepreneurship and investment in the regions, on Thursday, 12 February, the Saeima adopted amendments extending the operation period of the Latgale Special Economic Zone (SEZ) until 31 December 2050, and adding the Alūksne Municipality to the SEZ.

The Economic Affairs Committee, which is responsible for the progress of the amendments in the Saeima, has previously emphasised that extending the period of operation of the Latgale SEZ will provide entrepreneurs with long-term stability and predictability, which is essential for attracting new investments, the development of manufacturing, and job creation in the regions.

In turn, the inclusion of the Alūksne Municipality in the Latgale SEZ will expand support opportunities for entrepreneurship in Latvia’s eastern border region, promote investment and infrastructure development, and strengthen regional and national security.

At the same time, the Saeima recognised as urgent and conceptually supported the idea of extending the period of operation of the Liepāja SEZ and Rēzekne SEZ until the end of 2050. For these changes to take effect, the Saeima must also support them in the second — final — reading.

Saeima Press Service