Treasury Removes Sanctions on Latvia‚Äôs Ventspils Freeport Authority
Today, the Department of the Treasury‚Äôs Office of Foreign Assets Control (OFAC) removed sanctions imposed on the Ventspils Freeport Authority, which was designated on December 9. Thus, currently there are no obstacles for Ventspils Freeport Authority, Ventpils Freeport and companies operating at the port to continue their work unhindered.
Being the deepest port on the Eastern coast of the Baltic Sea, we are able to serve the largest ships, which enter the Baltic Sea. All you need for business is available 24/7 at the Freeport of Ventspils: 12 cargo terminals of all types, 21 shipping agencies, regular ferry connections to Sweden, tug, bunkering and other services.
The status of Special Economic Zone, tax incentives, more than 700 hectares of free land available for industrial project development, integration into the TEN-T transport network, availability of skilled labor, the Freeport and the City Administration support are the basis for the establishment of new production facilities for the long-term growth in Ventspils.
Businesses currently in Freeport of Ventspils
Sales manager of the ARBO Windows Vjańćeslavs Kolosovs:
‚Äď We have chosen Ventspils as our home. Wonderful infrastructure of the Ventspils city, a nearby port, ferry traffic, availability of labor, as well as support of the Ventspils Freeport and the provided offices for production make our work much easier.
Co-owner of the confectionery factory Pobeda and director-general of its Ventspils branch Andrey Muravyev:
- At Ventspils plant we have installed the world's most advanced chocolate production line. We have chosen the best equipment for our European branch, which allows us to work at the highest level, guaranteeing the highest quality and product safety. Ventspils is our gateway to the Latvian, European and world markets, and we are willing to enter them with the highest quality products and perfectly tasting chocolate. We are the first confectionery plant in Russia opening a production unit in Europe, and we regard the establishment of a plant in Latvia as a very important step.