What are some of the benefits associated with investing in the regions?
Investors should remember to evaluate other cities outside Riga. Latvia’s regions offer investors many advantages as opposed to the capital. The regions have fewer obstacles. One example is requesting permits and documentation for construction which takes several weeks longer in Riga than in the regions. When investors choose Riga they lose out on some of these advantages. In Rezekne, we are ready to help incoming investors and our biggest asset is the loyalty towards them. Attracting investments to Rezekne is a core priority for us as it benefits the municipality and the region. Hence, we share our experience and influence to facilitate the process. Depending on the investment, it makes sense and informed investors are capitalizing on the advantageous offered outside Riga.
What are some of Rezekne’s key benefits for investors?
One of our strongest advantages lies within Rezekne’s strategic location which has direct access to international markets in the EU, Russia, and CIS. Combined with excellent logistics and transportation connections Rezekne has attracted many investors. Rezekne is at the crossroads of the Trans-European Network (TEN) of motorways and railways. The first wave of investors came to Rezekne for the geographical advantages of being on the EU Russia border. The second wave of investors later arrived thanks to the positive feedback of this first wave. Rezekne is consistently improving its infrastructure. Building new factories with municipal support, improving infrastructure around enterprises and factories in Rezekne’s northern region and fostering entrepreneurship by developing the needs of new industries.
A joint municipal institution of Rezekne city and Rezekne Region is the Rezekne Special Economic Zone (RSEZ). RSEZ possesses a large territory and can offer tax incentives to investors. Real estate and corporate income tax relief are only two of the tax allowances, and investment incentives informed investors can take advantage of within the RSEZ. We have an efficient and client-focused team at RSEZ that is ready to attend the needs and queries of investors. Additional benefit investors have within Rezekne is the cities labor force. Rezekne and its vicinity have a large working population that is highly motivated. The region has several higher education institutions, and vocational schools and inhabitants are multilingual knowing Russian and having a good command of English. Labour accessibility within Rezekne is an asset for incoming investors.
How do you evaluate quality of life in Rezekne?
Rezekne’s ease of doing business combined with its pristine environment allows a work-life balance which increases the quality of life of our residents. The regions beautiful natural offering, pronounced change of seasons and hospitable people are an ideal mix especially for nature lovers and active leisure seekers. Hundreds of picturesque lakes lie near Rezekne, including Latvia’s two largest lakes; Rāzna and Lubāns. Also, Rezekne is home to the Eastern Latvia Multifunctional Culture Centre, also called the Embassy of Latgale GORS. The modern, high-quality acoustic concert hall is a perfect venue for music and drama performances, concerts and other large-scale entertainment events. It is a place where the story of Latgale is recreated and told. Another noteworthy municipal building within the city of Rezekne is the Eastern Latvian Centre of creative services, also called Zeimuls. The center offers extracurricular activities and workshops for children and youth. The construction of the GORS and Zeimuls are only two examples of the diverse possibilities of leisure in the city and how the quality of life within Rezekne is constantly improving.
Rezekne is a welcoming city of open-minded and hospitable people. The right place with the right people. We are looking forward to reaching out and work with additional investors.
