On 3 November 2025, foreign diplomats accredited in Latvia in the field of economic affairs, together with representatives and experts from the Ministry of Foreign Affairs, visited Daugavpils as part of a regional visit to Latgale. During a series of networking events, the delegation met with entrepreneurs, municipal leaders, representatives of economic zones, and other regional stakeholders.
The diplomats not only learned about investment and economic cooperation opportunities but also discovered the region’s diverse cultural and historical heritage and tourism potential.
The event brought together diplomats from 17 countries, representing EU, NATO, and OECD member states. The visit aimed to introduce foreign embassy representatives to Latgale’s entrepreneurs, business environment, investment opportunities, and overall economic potential.
“This is the first time that a targeted visit has been organised for foreign embassy diplomats in Latvia who work on economic affairs. This initiative has the potential to become a new tradition of economic diplomacy,”
emphasised Andžejs Viļumsons, State Secretary of the Ministry of Foreign Affairs.
The State Secretary particularly encouraged diplomats to explore cooperation in high technology and innovation, which also drives Latgale’s economic growth.
Presentation of the Latgale Business Environment and Networking with Entrepreneurs
The central event of the visit — the presentation of Latgale’s business opportunities and the networking session “Lunch with Entrepreneurs” — brought together more than 100 participants.
The event highlighted the economic profile, development trends, challenges, education, and cooperation potential of the Latgale Planning Region. Informal discussions focused on opportunities for collaboration and the expansion of export markets.
The Head of the Latgale Planning Region Administration and Manager of the Latgale Special Economic Zone (LSEZ), Iveta Maļina-Tabūne, emphasised in her presentation that an optoelectronics cluster has been established in Latgale and that Līvāni has become the “Silicon Valley” of Latvia. She noted that large exporting companies are successfully operating in Rēzekne and Daugavpils, while the region benefits from two special economic zones — the Latgale SEZ and the Rēzekne SEZ, which offer tax incentives for businesses, thereby fostering investment and industrial growth.
It was also highlighted that Latgale has a broad and diverse network of educational institutions, ensuring high-quality learning and professional development opportunities and contributing to the region’s human capital development.
During the presentation, the economic profiles of nine municipalities — two state cities and seven counties — were introduced, reflecting Latgale’s economic potential, investment environment, and development priorities.
Particular attention was given to technology-driven and innovative companies that shape Latgale’s optoelectronics and high-tech ecosystem, including:
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Daugavpils-based companies Regula Baltija, Pulsar Optics, SMD Baltic, Axon Cable, and Nexis Fibers;
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Līvāni-based companies Ceram Optec and Light Guide Optics International;
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Rēzekne-based company OptoElektronika LV.
The entrepreneurs’ “elevator pitch” presentations attracted particular interest, offering insights into the export capacity, innovation, and collaboration potential of local companies. Among those who shared their success stories were Ceram Optec, Rēzeknes Gaļas Kombināts, Galogroup, Element Lab, Reclame Fabriek, and Verems (RSEZ).
Quotes and Impressions
Aldis Adamovičs, Chair of the Latgale Planning Region Development Council, emphasised that the visit to Daugavpils was significant for its broad representation and cooperation potential:
“The event gathered economic representatives and diplomats from the embassies of EU, NATO, and OECD member states. Alongside them, around 90 Latgale entrepreneurs — large, medium-sized, and small — also took part.
This meeting was a valuable opportunity to share experiences, present Latgale’s development and business environment, build new contacts, and attract potential partners and investors, thereby strengthening the region’s export capacity.
In recent years, Latgale has made entrepreneurship development a strategic priority — by expanding industrial areas, improving infrastructure, and promoting investment. Latgale is a region of active and creative people where manufacturing, innovation, and technology companies thrive. Some of them we had the pleasure of visiting during this mission.
We extend special thanks to Minister of Foreign Affairs Baiba Braže, State Secretary Andžejs Viļumsons, and Deputy State Secretary for Economic Relations Ivita Burmistre.
We also express our gratitude to the Ministry of Foreign Affairs, its representatives, and all cooperation partners for their support and involvement in developing the Latgale region.”
Visits to Latgale SEZ Companies
Following the networking session, the delegation visited companies operating within the Latgale Special Economic Zone (LSEZ), including:
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Regula Baltija – manufacturer of document authentication and security equipment;
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Pulsar Optics – producer of optical systems and devices;
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Nexis Fibers – manufacturer of industrial textile products.
The visit served as an important platform for international contacts and economic cooperation, promoting investment attraction and enhancing the global competitiveness of Latgale’s companies.
Latgale – Where Culture and Innovation Meet
The visit concluded with a tour of the Mark Rothko Art Centre, where the diplomats explored Latgale’s cultural heritage and tourism potential, gaining an appreciation of the region’s multifaceted identity — a place where innovation, entrepreneurship, and culture intersect.
The Latgale Planning Region expresses its sincere gratitude to the Ministry of Foreign Affairs and all partners involved in organising this visit, which became an important step in enhancing Latgale’s visibility, expanding international networks, and strengthening export opportunities for local entrepreneurs.
The visit of foreign diplomats was jointly organised by the Ministry of Foreign Affairs of the Republic of Latvia, the Latgale Planning Region, the Latgale Special Economic Zone, and the Latgale Business Centre.
For more information:
📧 lsez@lpr.gov.lv | ☎ +371 29957750
