Rezekne SEZ Business Support Fund activities

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Rezekne SEZ Business Support Fund activities

January 27, 2022

The Rezekne SEZ Authority operates the activities of the Rezekne SEZ Business Support Fund for the promotion and support of commercial activities, as well as for the financing of the development of the territory infrastructure. It was established with the establishment of Rēzekne SEZ.

The main activities of the fund are territory research, business research, investments, and educational programs. The budget of the Business Support Fund consists of the annual deductions of Rezekne SEZ commercial companies.

In the period from 2019 to 2021, the following projects of the Business Support Fund have been implemented:

Arrangement of the land plot at Komunālā Street 13 and 11C in the territory of Rēzekne SEZ

Within the framework of the project, relief organization and leveling works, dismantling of existing buildings, felling of trees, as well as lifting and repair of sewerage wells were performed. The project was completed in 2020. Currently, the arranged plot of land has already been leased to a merchant. Total Rezekne SEZ Business Support Fund financing is EUR 74 742. 23.

Implementation of support and training programs in Rēzekne SEZ

The tasks of the project were to update the training needs of Rezekne SEZ companies, to select the implementers of the training programs, as well as to implement the training programs for the employees. As a result of the project, 118 employees of Rezekne SEZ commercial companies were trained. EUR 16 942.39 was spent on training programs.

Rezekne SEZ commercial company projects

Long-term investments of Rezekne SEZ commercial companies in Rezekne SEZ infrastructure and modern technologies are co-financed in the project tender, if at least one of the following criteria is met as a result of implementation - new jobs are created, modern (environmentally friendly) technologies are introduced, export volume is increased. Financing was granted to RSEZ SIA “IRBIS Technology”, “LATSTAB” RSEZ SIA, “Rēzeknes dzirnavnieks” RSEZ AS, SIA RSEZ “Rēzeknis Bryuvers” in the last project tenders. A total of EUR 42 000 has been allocated from the Business Support Fund.

Mitigation of COVID-19

The Rezekne SEZ Authority has organized two project competitions in 2020 and one project competition in 2021. The project provided co-financing to companies to mitigate the consequences of Covid-19 pandemic. Within the framework of the project tender, support has been granted to 17 projects of Rēzekne SEZ commercial companies for investments in purchasing thermal cameras, non-contact disinfection devices, face masks, etc. purchase of protective equipment. The total funding is EUR 62 072. 05.

Investment attraction development program

The project started in 2021 and will continue in 2022. Within the framework of the project, it is planned to implement an investment attraction development program, using the possibilities of artificial intelligence and machine learning technologies and thus promoting the attraction of foreign investment projects in the Rezekne Special Economic Zone.

This year On January 25, a meeting of the Rezekne SEZ Entrepreneurship Commission took place, where the further activities and priorities of the Rezekne SEZ Business Support Fund were discussed. Two priorities for 2022 were approved - implementation of Rezekne SEZ support and training programs and co-financing of projects developed and approved by Rezekne SEZ companies.