Amber Walley - New Horizons for Investment

This is exciting and challenging time. We are about to join the European Union and become more open and attractive to the foreign investment. We have done a lot to call Liepaja a City of Change. The city of successful changes as the people living here on the stretch of sand between the amber sea and the lake have always been tough, wise and daring.

Liepaja today is the most rapidly growing port in Latvia and the industrial output per capita in Liepaja is twice as large as in the rest of Latvia. Liepaja offers modern and business-friendly environment, as it is the education and business centre of Kurzeme region.

Business incentives. Liepaja is an excellent location for investors. City offers qualified and cost-efficient labour force, appropriate infrastructure, logistics and highly beneficial fiscal incentives granted by the Liepaja Special Economic Zone. The legislation of LSEZ is harmonised with the EU requirements and will be in operation until 2017. Businesses within the LSEZ are entitled to several exemptions from taxes and VAT.

The city and especially LSEZ can offer as much as 2000 ha of free territories adjacent to the port, airport and the city. Premises available include former industrial production facilities that have the infrastructure (gas, water, electricity, etc) necessary for starting production. There are several industrial park projects both municipal and private offering premises for investors.

Developed logistics possibilities
Liepajahasaunique geographic position - it is a natural transit point between the Western Europe and CIS countries as ice-free port links various points of destination. The port is multifunctional and allows combining various types of logistical activities. There are ferry routes to Rostock in Germany and Karlshamn in Sweden. Liepaja also offers second largest airport in Latvia, and excellent road and railway cargo transport possibilities.

Indeed the welcoming and favourable business environment has resulted in relevant amount of investments. At the end of 2002 the amount of accrued foreign investments in fixed assets of the companies registered in Liepaja reached LVL 14 m. The last two years brought in Liepaja the largest amount of non-financial investments in the last seven years period. Half of the assets in 2002 were invested into technological machinery and equipment.

Christofer Tham, Swedish investor and General Manager of 4-star hotel has noted Liepaj a's development during the time while he has been there is huge. Nevertheless Liepaj a's potential with its location and facilities is still great. "The harbour, the business life and the local authorities supporting it makes it smooth to establish and run a business here. The beach is marvellous and together with the big offer of music events: from classic and folklore to jazz and rock, it makes Liepaja also a leisure city. We as a hospitality business representatives experience now an expanding tourism here,"concludes Tham.