The Latvian parliament has approved the inclusion of Alūksne Municipality in the Latgale Special Economic Zone (SEZ), with 87 deputies voting in favor and none against. This SEZ has been operational since 2017 and serves as a crucial instrument for national support aimed at regional development and economic growth. The inclusion is expected to bolster economic opportunities in Alūksne by attracting more investments and enhancing business development initiatives to generate new jobs for local residents.

With its membership in the SEZ, Alūksne Municipality will benefit from significant tax incentives for businesses involved in development and job creation, offering reductions of up to 80% on corporate income and property taxes. This move reflects a broader strategy to support regional economies in Latvia, creating a thriving environment for entrepreneurship and innovation. Local authorities may also provide additional incentives to businesses operating in their areas, thus fostering further economic development.

The approval of this initiative by the Saeima emphasizes the urgency and conceptual support for the project, indicating the government's proactive approach to not only promote economic growth but also enhance the overall security of the region. By facilitating investments in both production and infrastructure, this decision marks a significant advancement towards a more sustainable and prosperous economic future for Alūksne and its residents.