Invest In Ventspils
The Port of Ventspils is an industrial zone of the Northern part of the EU for the development of all kinds of industrial production. Our advantages include favorable conditions of cooperation, customized manufacturing infrastructure, availability and, if necessary, creation of strategic resources, major intellectual capital, scientific and educational potential, as well as an attractive environment of a coastal city next to the Baltic Sea. Due to convenient transport connections and diverse logistic solutions the EU and even countries of Central Asia can easily access us.
7 Reasons to Invest in Ventspils
| Convenient import/export hub between the EU and Central Asian markets | Location in the East-West transit connection and the TEN-T transport network allows all types of logistics. |
| Customized territories for all kinds of industrial production | Territories of more than 500 ha equipped with electricity, IT and telecommunications as well as other utilities waiting for new industries (possible investments for the development of company infrastructure). Rent no bigger than 0.5% of the land’s cadastral value. |
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Labour supply, high potential of intellectual capital |
Multilingual local labor (Latvian, Russian, English, German). Well-developed vocational education in required fields – the most modern infrastructure in the country to acquire professional skills of metalworking, mechatronics, mechanical engineering, energetic, electronics, etc. One of the best bases for vocational and higher education in the Baltics, covering such fields as IT, telecommunications, electronics, astronomy, engineering, mechanical engineering and other promising sectors. Modern infrastructure and possibilities of staff training in fields necessary for production. Active local scientific institutes for the transfer of R&D knowledge to the business environment. |
| Favorable business start-up, attractive tax environment, the special economic zone (SEZ) status. |
Clear unitary regulations and benefits for both local and foreign investors, as well as a secure business environment. Business company registration within a few days. Corporate income tax and immovable property tax are reduced by 80% until a company is able to compensate up to 40% (60% for small and 50% for medium-sized companies) of investments. When paying out compensation, corporate income tax is 4% which otherwise is 20% in Latvia, immovable property tax, in turn, is 0.3%. |
| Ambitious business incubation system |
Support provided to companies by the Business Support Centre and the Investment and Development Agency of Latvia during their initial phase of operations. |
| Supportive local government that is open for cooperation in every development stage of the company |
A project coordinator for solving practical investment project issues and their faster guidance. Municipal support in providing utilities and public infrastructure necessary for production. Professional and regulator services within easy reach. |
| Comfortable and tidy urban environment | One of the most attractive coastal cities of the Baltic Sea. Ventspils is not only a port and an industrial park, but also a gorgeous environment for everyday life and tourism offering first-class infrastructure, a wide range of cultural, sports and leisure activities, all forms of education and a unique beach. |
Businesses currently in Freeport of Ventspils
Chairman and owner of Malmar Sheet Metal Dorsan De Buysscher:
– Although we visited Liepaja, Jelgava and Riga, Ventspils attracted us more. Not only because it is green and beautiful, but also because educated and motivated people live here. What is more, we found welcoming people in several city authorities, and there was land available for us… But the most important reason is the logistics infrastructure, the ferry traffic to Germany and Sweden, as well as the infrastructure for business start-ups, such as the VHTP Business Incubator. The North Kurzeme Vocational Education Competence Center provides companies with young and educated employees. Also the Ventspils High Technology Park played an important role by helping to obtain European co-financing, which resulted in a new industrial building for our company.
Managing Plant Manager of Bucher Municipal Mikus Brakanskis:
– Investing and creating a factory in Ventspils has been and is still a success story for Bucher Municipal. We have implemented multiple expansion projects together with the city administration and freeport within a span of two decades. Teamwork and good collaboration between all three parties have helped us to achieve success. Our journey from a company with few employees to one of the biggest employers in the region would not have been possible without the people who have shaped this story. A story that holds great significance for the whole Bucher Municipal Division. By continuing our development and investing in our site and employees, we will keep producing high-quality compact sweepers in this small city and deliver them to the rest of the world to make it as clean as Ventspils.
The innovative and flexible offer of the Ventspils Freeport Authority stood out among those made by the freeport authorities in other cities. This allowed to reduce the company's risk at the beginning of its operation by renting buildings and land from the Ventspils Freeport Authority, rather than investing in the company's equity capital. The rapid pace of development and growth ambitions led to the decision to relocate the production facility, which was successfully resolved by the City Council and the Freeport Authority of Ventspils. They responded swiftly and professionally to our request for the acquisition of land and buildings. Behind these global challenges lies a number of everyday issues we have effectively solved together over the years, so that we, as a company, city, and employees, have a more comfortable daily life, and can achieve better results.
