Bills Submitted to Extend the Regulatory Framework of the Liepaja Special Economic Zone until 2050

Members of the Saeima (Parliament of the Republic of Latvia) from the United List (AS/Apvienotais Saraksts) and the National Alliance (NA/Nacionālā Apvienība) have submitted amendments to the Law on the Application of Taxes in Free Ports and Special Economic Zones and to the Law on the Liepaja Special Economic Zone to extend the regulatory framework of the Liepaja SEZ until 31 December 2050.

Arturs Butāns (NA), Chair of the Saeima Subcommittee on Export and Competitiveness, notes that entrepreneurs and investors, when making decisions, look to long-term rules, predictability, and investment security. “In order for Liepaja to continue attracting new investment projects in the future, we propose extending the operating term of the SEZ from the currently valid 2035 to 2050, similarly to the case of Rezekne,” explains Butāns.

Members of the United List (AS) Māris Kučinskis and Edgars Putra, have submitted amendments to the Law on the Application of Taxes in Free Ports and Special Economic Zones.

Saeima MP Edgars Putra (AS) emphasizes that the remaining term of the Liepaja SEZ law, which is less than 10 years, clearly does not create a sense of stability and security either for existing Liepaja SEZ companies or for potential investors. “Such a short remaining period does not allow for the full realization of investment payback and reduces the SEZ attractiveness for long-term investments. From the United List’s side, we have prepared and submitted a proposal for the third reading of this law, providing for this tax regime to apply until 2050, to ensure a consistent regulatory framework as well as clear preconditions for investment stability and regional competitiveness.