Rezekne - an attractive city for investors

  blog/Rezekne - an attractive city for investors

Rezekne - an attractive city for investors

May 18, 2021

Often people who have not been in Rezekne for several years would say: "I don't recognize this city!" and "Is it really Rezekne?" And indeed, Rezekne went through obvious changes in recent years, thanks to the projects implemented by the municipality in the fields of business promotion, culture, tourism and sports.



Within 3 years with European Union co-funding, investing approximately 10 million EUR, Rezekne municipality renovated and built road surface and communications in several streets of Rezekne, which provide access to industrial zones in the territory of Rezekne Special Economic Zone (Rezekne SEZ)

It is worth mentioning industrial territory in Komunālā street, where Rezekne City Council reconstructed the street, constructed water supply and domestic sewage networks. And Rezekne SEZ authority realized a project, during which the old building was dismantled, relief organization and leveling works were performed, trees were cut down, as well as relocation and repair of sewerage wells. As a result of these activities, the area is prepared to start a business in an arranged environment with a great infrastructure and excellent access to the main export routes.

As a successful example of partnership for attracting investments in Rezekne SEZ, has to be mentioned the construction of a production complex at Viļakas street 1, which costs were 6.8 million EUR. Municipality built an industrial complex with an area of 6784 m2 as well as access roads and parking lot with an area of 3778,5 m2 . Currently in this complex operate Rezekne SEZ commercial company “MIDIS” RSEZ SIA and wood processing company SIA “VTI Avoti”. It is planned that the tenants will provide investments of at least 3.5 million EUR and will create at least 95 new jobs.

It is worth mentioning that in both mentioned objects it is possible to receive Rezekne SEZ tax relief.


City of Short Distance

In Rezekne all the necessary organizations for entrepreneurs to arrange the paperwork for starting and developing business can be found (Enterprise Register, State Revenue Service, Office of Citizenship and Migration Affairs, State Employment Agency, Construction Board, Banks, State Environmental Service, State Land Service, Food and Veterinary Service etc.).

Within a reach are various financial (LIAA Rezekne Business Incubator, Financial Institution ALTUM, Central Finance and Contracts Agency, Rural Support Service) and advisory support institutions. Information regarding business-related issues can be found at Rezekne SEZ, Latgale Business Center and Rezekne Entrepreneurs Association.

Rezekne Academy of Technology offers entrepreneurs modernly equipped laboratories for research purposes in such areas as mechanical properties of materials, chemistry, ecology, mechatronics, flow mechanics and hydraulics, laser technology etc. However Latgale machinery and technology centre (Latgales aparātbūves tehnoloģiskais centrs) offers a laboratory for the production of a new product in all stages from 3D model to testing.

More information about business support institutions here.


Rezekne - a city for the future

Rezekne has a developed environment not only for business, but also for culture, tourism, recreation and sports.

Latgale Embassy and Cultural Center “GORS” which opened in 2013 takes care about the presence of culture in Rēzekne and the region. Its visual identity highlights and glorifies the special Latgalian language and the colourful culture of this region.

In the future, the city will become more attractive to locals and tourists, as well as potential investors, thanks to several ongoing projects.

● Establishment of a recreation center for tourism development

During this project the construction of a 3 storey SPA building is planned. As well as the improvement of the surrounding area with footpaths, parking lot, illuminated promenade area and the footbridge along the lake. The building will be rented to the merchant with the help of tender.

● Construction of Kovšu lake park

As a result of the project, Kovšu lake park will be created with six landscaped areas - beach, promenade, Kovšu river, nature trails, boat houses and camping areas. It should be mentioned that the municipality is looking for tenants for this object as well.

● Reconstruction of Rainis Park

During the improvement of Rezekne Rainis Culture and Recreation Park, the Rainis Children Playground has undergone changes. At the moment, work is underway on the construction of a skate park, in the creation of which, extraordinary design elements have been used embedding Rezekne city logo in the metal constructions. And also work is underway of constructing a bicycle track and an outdoor gym.

The “Olympic Center Rezekne” was built for the development of the sports area, which provides the population with an opportunity to follow a healthy lifestyle, and professional athletes an opportunity to achieve great results at the national and international levels. In the future we expect such sport facilities as:

● Kristaps Porzingins open air basketball court, which will be included in “Olympic Center Rezekne” territory;
● Indoor football hall, so that football can be played in comfortable conditions even during the winter time.

The name of Rēzekne is pronounced differently in Latgalian - wider (Rjāzekne) or narrower (Riezekne). In either variant, the name of the city is encoded with the word - 'arrange, stand out'. This is evidenced by ambitious municipal projects that other municipalities will not dare to implement. However, this courage has created favourable conditions for the reception of new guests and, most importantly, new investors, which will further promote the development of the region in the future, creating new jobs.