New Business Park in Latvia - an opportunity for foreign investors

  • 2019-09-18
  • TBT Staff

A new Business and Innovation Park Mežgarciems is being developed in Latvia, only 25 km from the capital Riga. The territory includes 11 building plots and eight of them will be auctioned by the Carnikava Municipality in October.

The construction of infrastructure and necessary communications in the territory is planned to be completed before 2020. All of it is built anew – illuminated access roads, electricity, gas and water supply, waste water networks, municipal sewage line and optical network.

The development of this high-quality business environment is expected to create 205 new jobs and attract investments worth EUR 10.5 million. The project is implemented with the support from the European Regional Development Fund, and its costs are estimated at EUR 5.06 million.

The area of the land plots available for auction is 4192 to 11657 square metres, and the starting price ranges from EUR 19,900 to EUR 48,500. The building plots purchased at the auction can be redeemed from the municipality within five years, while construction may be commenced immediately after the purchase. Under the terms of the auction, the entrepreneurs must build a production site on the property, attract investments of at least EUR 500,000 and create at least 15 new jobs within 30 months.

“For years we’ve worked on creating a suitable environment for businesses and investors with a full spectrum of infrastructure. By developing Mežgarciems we will benefit those who want to create their own business as well as the residents of the nearby territories, whose quality of life will benefit from the new infrastructure,” says Daiga Mieriņa, chairman of the Carnikava County Council.

Under the terms of the new business park, in Mežgarciems there may be developed an entrepreneurship that within the operator’s basic activity (not exceeding 50% of the net turnover) is not related to the following areas at the place of the project implementation: electricity, gas supply, water supply, financial and insurance services, real estate transactions, tobacco product manufacturing etc. Carnikava Council will auction eight of the park’s territories on October 8, 9 and 15.

Applicants are invited to apply for participation in the auction until September 27.

 

"
"