It may seem a badly choosen time to address potential investors, but this ir the right time to accumulate information in order to be able to act as times change, requiring quick decisions.
Ventspils has the status of "special economic zone”, which gives foreign companies a number of advantages, among others tax rebates. There is a University College, Ventspils augstskola (
www.venta.lv) that continuously supplies employers with young, well-educated workforce.
The geographical proximity to Sweden is also a good argument for taking advantage of this offer – there is a regular ferry service to Nynäshamn five days a week. Moreover - companies that have already chosen to start operations there attest to one of the main reasons why they chose Ventspils is that the city has short decision paths, and that officials in both the municipality and the port authority are open and easy to work with.
In addition there are the economic conditions created by the recession - real estate prices have fallen dramatically, so have prices in the construction sector. Both the tax burden for companies, electricity and other prices are among the lowest in the EU. One could even argue that Latvia has never been as lucrative as today.
Among the companies that already have taken the step and established the production of Ventspils are Swiss-owned "Bucher Schorling” (
www.bucherind.com) - the world's leading manufacturer of street cleaning vehicles, with 5000 employees worldwide, the leading Danish manufacturer of decorative lights" Diana Lys' (
www.diana-lys.dk) and Norwegian "BAU-HOW '
(www.bau-how.com) - with its very innovative way to build apartment modules. An example of a domestic Latvian company is "Ventspils electronikas fabrika”, a very successful manufacturer of electronic components.
This is just a part of what we can offer. Please read more in the attached fact sheet and on the website
www.ventspils.lv. Then lift the handset and call to book a personal meeting. Igors Udodovs, who is head of the Ventspils Free Port and also responsible for the entire city's business development will be happy to see you in Sweden for a conversation about your needs and opportunities.
Short facts- 47,3 % of this is special economic zone
Ventspils has a very business friendly climate. There are more than 1 000 companies registered in the city, most of them in the transportation sector, which is dominating.
One of the main goals of the City of Ventspils is to develop industrial activities in the city. Therefor Ventspils City Council and the Free Port of Ventspils Authority are supporting and promoting industrial development and have designated an area of more than 1 000 ha for the development of industrial projects. Several land lots, ranging between 1 to 200 ha in one piece, are prepared for construction works, also providing expansion possibilities. In addition
Free Port of Ventspils Authority is open for public-private partnerships, respectively, to perform some additional investments on the site if needed. It must be noted that Ventspils is the only place in Latvia where investors are offered such options. The Free Port of Ventspils Authority also offers long-term land lease agreements. The lease fee for an industrial project is 0,25-0,5% of the cadastral value. In addition companies pay land tax in the amount of 1% of the cadastral value.
Ventspils High Industrial Park
The aim of this Park is to create and provide infrastructure and support services for the development of high technology industries in the city. The priority areas are IT, telecommunications, electronics, mechanical engeneering, industrial automation, computer aided design and space technologies. A professional management team, high strategic goals, clear development plans and a sophisticated set of services are the key values offered by the Park.
Ventspils High Technology Park has two structural units – a Business incubator and a Technology park.
The Incubator is designed for support of high-tech companies at the beginning of their operational acitivities. The incubator promotes establishment of new businesses offering start-up high quality infrastructure and services on reduced tarifs, primary business plan training and advisory, contacts with market partners and financial sources, technology and production development, mentoring as well as individual business support programmes. Incubated companies have all the preconditions to develop rapidly, increase the turn-over and enter the local and global markets through the collaboration net-work in the incubator. The incubator is located in the Ventspils University
Human resources
As Ventspils is a port city, the city ensures the availability of highly qualified port specialists of differents specilalities. Transportation and logistics can be said to be the on main business sector. But there are also long-standing traditions in the sectors of wood-working, fich processing and metalworking.
The cornerstones of the future development are education, innovations and R&D, all very crusial for the city. The University College is the main player, ensuring education of high quality specialists in the areas of IT, business administration, translations as well as engineering sciences.
The latest is additionally supported by research institutes like Ventspils International Radio Astronomy Centre, specializing in fundamental research in astrophysics, applied research in satellite technologies, space engineering and Engineering Research Centre – laboratories and applied research in CAD/CAM, mathematic modelling, applied electronics and telecommunications.
The Riga Technical University has a branch in Ventspils, offering studies in electronics, power engeneering, electrical engineering, computer syystems and other technical programmes. Ventspils Professional Highschool ensures adult education programmes, continously intrducing new programmes if demanded by companies.
Special Economic Zone
Being located within the territory of the Free Port of Ventspils Authority you will be offered to obtain the free economic zone status that gives additional advantages to the companies located in Ventspils. According to the law, companies can receive reductions in indirect taxes (VAT, excise tax and customs duty) as well as direct tax (coraporate income tax and real iestate tax), reductions up to 80% until the amount of relief reaches half of the initial investment. The free port/special economic zone also grants the possibility of re-exporting.
Free port
The ice-free port of Ventspils is the largest export harbour in the Baltic Sea. Before the recession the turn-over of transitcargo ranked Ventpils among the 20 leading ports of Europe.
The port got the status of free port January 1st 1997. Since then there have been remarkablde changes. After reconstruction and modernization the technologies and services provided at the port correspond to all modern requirements, both regarding technology, safety and environmental protection.
Austra Kreslina
Phone +46 737 270883
www.vizia.lv