RIGA, Nov 21 (LETA) - Finance Minister Arvils Aseradens (New Unity) has embarked on a regional visit to Liepaja on Friday, during which he will take part in the opening of newly built streets in Liepaja Industrial Park, as well as have meetings with Liepaja entrepreneurs, representatives of the port, and city government to discuss development and investment-related matters important for the region, LETA was told at the Ministry of Finance.

During a meeting with representatives of the Liepaja Port Tenants Association, the finance minister is expected to discuss the dynamics of port operations, investment opportunities, and strategic development plans.

As he continues the visit, Aseradens will participate in the inauguration of the newly built streets in Liepaja Industrial Park, which is being developed in the former territory of Liepajas Metalurgs steel plant. The Finance Ministry notes that this project will become an important stage in the region's industrial development, and its implementation is important for the sustainable development of the city's economy, as well as for attracting investment and creating new jobs.

The development of the industrial park area is supported by the European Recovery and Resilience Facility (RRF). The first phase of the project, which has received EUR 10 million of RRF funding, is an important step in strengthening Liepaja's economic growth and the region's competitiveness, the ministry says.

During the visit, Aseradens plans to discuss the city's development priorities with the Liepaja City Council leadership, highlighting the importance of state-municipal cooperation in ensuring the region's growth and promoting the attraction of investment in the coming years. They will also discuss existing and planned infrastructure projects, as well as the absorption of European Union (EU) funds and RRF investments in the region.

Liepaja and Dienvidkurzeme Municipality are currently actively implementing a number of EU-funded and RRF projects, the Finance Ministry informs. In total, more than 50 EU-funded projects worth over EUR 65 million are in the implementation phase, including major investments in improving the city's infrastructure, modernizing the environment in educational institutions, and strengthening healthcare and developing services. The Liepaja Special Economic Zone Authority's project to renovate the Vessel Traffic Management Center at the Port of Liepaja is also underway. This project has attracted EU investment of EUR 1.7 million.

In Dienvidkurzeme, including Liepaja, 20 RRF project contracts worth more than EUR 29 million have been signed to date, of which EUR 26.7 million is RRF funding. The projects are being implemented in the areas of reducing inequality, strengthening healthcare, digital development, and the rule of law.