The high-tech company SIA “Pulsar Optics” plans to invest 5.1 million euros for the implementation of investment projects in the territory of Latgale Special Economic Zone (SEZ), informs the representatives of Latgale SEZ.
SIA “Pulsar Optics” is a subsidiary of the Lithuanian high-tech company “Yukon Advanced Optics Worldwide”, which has been manufacturing thermal, digital night and day vision optical equipment for civilian use in Daugavpils since 2021, exporting the finished products mainly to Europe, Great Britain and the USA.
SIA “Pulsar Optics” plans to invest 5.1 million in the implementation of investment projects in the territory of Latgale SEZ. in total, creating 112 new jobs in Daugavpils. Two investment projects will be implemented: for the purchase of production equipment and adaptation of premises for the needs of plastic molding and mechanical processing production 2.03 mln. as well as for the expansion of the company’s activities in the creation of new jobs, envisaging to receive the tax relief provided by law for Latgale SEZ capital companies for the newly created jobs created as a result of the initial investment in the amount of 2.8 million euros.
The company forecasts that after the granting of the Latgale SEZ status, an economic return will be created in the territory of the structural units, because both as a result of the newly created jobs and the increase of the company’s production capacity, contributions to the state and local government budget will increase.
Jānis Lāčplēsis, Chairman of the Latgale SEZ Monitoring Commission, points out that the admission of SIA Pulsar Optics to Latgale SEZ confirms the growing interest of investors in the Latgale region as an attractive environment for strengthening the company’s capacity.
Viktors Smirnovs, Director of SIA “Pulsar Optics”, signing the agreement on granting the status of Latgale SEZ capital company, acknowledged: “We believe that this is a mutually beneficial agreement that will encourage our company to continue investing in business expansion and staff growth. In turn, for the Latgale region and the city of Daugavpils, it will be a strong stimulus for further economic development, which will benefit the entire Republic of Latvia and the Baltic region as a whole. ”
Since the start of operations in Latgale SEZ, 46 investment agreements have been concluded for investments in the territory of Latgale SEZ in the amount of approximately 35 million. EUR in the amount of investment. The LSEZ territory includes 88.10 ha and 26 projects have been implemented, creating a total of 227 new jobs.
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