China's genome research company BGI Group invests EUR 15 million in sequencing center in Riga

RIGA - China's genome research company BGI Group next week will open MGI Latvia genome sequencing center in Riga, in which EUR 15 million have been invested, the Latvian Investments and Development Agency (LIAA) reported.

Latvia MGI Tech is a subsidiary of China's BGI Group dealing with genome research. The new center will employ at least 80 biomedical specialists. The center will manufacture genome sequencing equipment for further exports to the EU, Africa an the Middle East.

LIAA informed that the agency has been cooperating with BGI since 2017, and this has been one of the biggest project success stories. "As a result, Latvia has been selected by a world-level high technologies company to produce and export products with high added value," said LIAA.

BGI Group employs about 7,000 employees around the world, but its only plant in the EU will be located in Latvia.

The new center will be opened on November 26. The opening ceremony will be attended by Economics Minister Ralfs Nemiro (KPV LV), MGI President Duncan Yu, and China's Amabassador to Latvia Liang Jianquan.

Latvia MGI Tech was registered in 2017, and has a share capital of EUR 100,000, according to Firmas.lv business database. The company's sole owner is BGI Complete Genomics Hong Kong Co.