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Binder1[1].Pdf www.businesslithuania.lt Publication: INVEST IN LITHUANIA second edition. Publisher: LAISVOS REKLAMOS IDĖJOS UAB Printing: SPINDULYS AB Companies and institutions that have submitted the data are responsible for the accuracy of the data provided in the publication. No parts of this publication may be reproduced or recorded into any data medium or transferred in any other way without the written consent of LAISVOS REKLAMOS IDĖJOS UAB. www.lri.lt Invest in Lithuania www.businesslithuania.lt Lithuania: Success Drawing In International experts, observing, analyzing and evaluating European economies’ development, have named Lithuania as one of the most successful economies in the whole EU. Experts and analysts at the International Monetary Fund (IMD), World Bank, Economist Intelligence Unit (the research subdivision of “The Economist” magazine), the European Commission etc., declare that Lithuania maintains an exceptional economic progress, based on macro stability and eco- nomic flexibility. Lithuania demonstrates wonderful economic development figures; economic re- forms in Lithuania, which joined the EU in 2004, have resulted in one of the highest economic growth rates among the 10 new EU member states - Lithua- nia has maintained a stable average GDP growth of 7.8% during 2000-2006, and it was one of the highest growths in the whole EU. Not only the present economic situation in Lithuania is praised, but also a very promising future for the country is projected. The “FDI Magazine“ of the Finan- cial Times Group surveyed 140 European cities and regions and already twice awarded Vilnius, the capital city of Lithuania, the title of the “Baltic City of the Future”, while the Kaunas and Vilnius dipolis was named the “Baltic Region of the Future” for the economic development potential biggest in the region. Located at the crossroads of Scandinavian, East European and West Europe- an markets, offering knowledge-economy-oriented business environment, one of the most qualified human resources in the EU, a wide range of investment incentives (free economic zones with tax benefits and one-stop-shop services, industrial parks with developed infrastructure, access to EU Structural Funds support etc.) and the most diversified industry base among the Baltic States, Lithuania is a treasure to be discovered by foreign investors and businessmen looking for reliable business partnership and opportunities to expand their busi- ness activities. Lithuania invites foreign businesses to use the opportunity to expand their ac- tivities to the booming Lithuanian market and to join the conglomerate of many big corporate names, such as Microsoft, IBM, Philip Morris, HP, AON, Coca- Cola, Kraft Foods, Masterfoods, Siemens, Dalkia, Yazaki, SEB, TeliaSonera, Marzotto, Transcom Worldwide, DSV, Schenker, Indorama and many others, who are already at home in Lithuania. Refresh your investment portfolio and discover new opportunities in the prospering Lithuanian economy! Invest in Lithuania CONTENTS 1. ADVANCED ECONOMIC PERFORMANCE .................. 10 Information provided by Lithuanian Development Agency (LDA). 2. INVESTMENT AND BUSINESS CLIMATE ................... 18 Information provided by Lithuanian Development Agency (LDA). 3. LEGAL ENVIRONMENT IN LITHUANIA ...................... 38 Information provided by Law Firm Lideika, Petrauskas, Valiūnas ir partneriai LAWIN. 4. FINANCIAL MARKETS ........................................... 54 Information provided by analysts of AB Vilniaus Bankas. 5. LITHUANIAN ELECTRICITY ..................................... 60 Information provided by members of Lithuanian Member Committee of the World Energy Council. 6. FavoURABLE INFRASTRUCTURE ........................... 78 Information provided by the Ministry of Transport and Communications of the Republic of Lithuania. 7. REAL ESTATE ...................................................... 88 Information provided by the State Enterprise Centre of Registers. 8. CONSTRUCTION MARKET & ENVIRONMENT PROTECTION ................................. 92 Information provided by the Ministry of Environment of the Republic of Lithuania. 9. InnovaTION, THE FUTURE OF TEXTILE SECTOR ..... 104 Information provided by Apparel and Textile Industry Association. 10. FARMING AND FOOD PRODUCTION IN THE NATIONAL ECONOMY ....................................... 110 Information provided by the Ministry of Agriculture of the Republic of Lithuania. 11. SCIENCE & EDUCATION .................................... 116 Information provided by the Ministry of Education and Science of the Republic of Lithuania. 12. CULTUre, RecreaTion & ToUrism in LITHUania .... 126 Information provided by the Ministry of Culture of the Republic of Lithuania and the State Department of Tourism under the Ministry of Economy. Invest in Lithuania ADVANCED ECONOMIC PERFORMANCE Investment and Business Climate LEgal ENvironment in Lithuania FINANCIAL MARKETS LITHUANIAN ELECTRICITY Favourable Infrastructure Real Estate Construction MARKET & ENVIRONMENT PROTECTION Innovation, ThE FuTure of TExtile Sector FARMINg AND FOOD PRODuCTION IN ThE NATIONAL ECONOMY Science & EDucation Culture, Recreation & TOurism in Lithuania ADVANCED ECONOMIC PERFORMANCE Investment and Business Climate LEgal ENvironment in Lithuania FINANCIAL MARKETS LITHUANIAN ELECTRICITY Favourable Infrastructure Real Estate Construction MARKET & ENVIRONMENT PROTECTION Innovation, ThE FuTure of TExtile Sector FARMINg AND FOOD PRODuCTION IN ThE NATIONAL ECONOMY Science & EDucation Culture, Recreation & TOurism in Lithuania ADVANCED ECONOMIC PERFORMANCE Investment and Business Climate LEgal ENvironment in Lithuania FINANCIAL MARKETS LITHUANIAN ELECTRICITY Favourable InfrastruCTure Real Estate Construction MARKET & ENVIRONMENT PROTECTION Innovation, ThE FuTure of TExtile Sector FARMINg AND FOOD PRODuCTION IN ThE NATIONAL ECONOMY Science & EDucation Culture, Recreation & TOurism in Lithuania ADVANCED ECONOMIC PERFORMANCE Investment and Business Climate LEgal ENvironment in Lithuania FINANCIAL MARKETS LITHUANIAN ELECTRICITY Favourable Infrastructure Real Estate Construction MARKET & ENVIRONMENT PROTECTION Innovation, ThE FuTure of TExtile Sector FARMINg AND FOOD PRODuCTION IN ThE NATIONAL ECONOMY Science & EDucation Culture, Recreation & TOurism in Lithuania ADVANCED ECONOMIC PERFORMANCE Investment and Business Climate LEgal ENvironment in Lithuania FINANCIAL MARKETS LITHUANIAN ELECTRICITY Favourable Infrastructure Real Estate Construction MARKET & ENVIRONMENT PROTECTION Innovation, ThE FuTure of TExtile Sector FARMINg AND FOOD PRODuCTION IN ThE NATIONAL ECONOMY Science & EDucation Culture, Recreation & TOurism in Lithuania ADVANCED ECONOMIC PERFORMANCE Investment and Business Climate LEgal ENvironment in Lithuania FINANCIAL MARKETS LITHUANIAN ELECTRICITY Favourable Infrastructure Real Estate Construction MARKET & ENVIRONMENT PROTECTION Innovation, ThE FuTure of TExtile Sector FARMINg AND FOOD PRODuCTION IN ThE NATIONAL ECONOMY Science & EDucation Culture, Recreation & TOurism in Lithuania ADVANCED ECONOMIC PERFORMANCE Investment and Business Climate LEgal ENvironment in Lithuania FINANCIAL MARKETS LITHUANIAN ELECTRICITY Favourable Infrastructure Real Estate Construction MARKET & ENVIRONMENT PROTECTION Innovation, ThE FuTure of TExtile Sector FARMINg AND FOOD PRODuCTION IN ThE NATIONAL ECONOMY Science & EDucation Culture, Recreation & TOurism in Lithuania Innovation, ThE FuTure of TExtile Sector FARMINg AND FOOD PRODuCTION IN ThE NATIONAL ECONOMY Science & EDucation Culture, Recreation & TOurism in Lithuania ADVANCED ECONOMIC PERFORMANCE Investment and Business Climate LEgal ENvironment in Lithuania FINANCIAL MARKETS LITHUANIAN ELECTRICITY Favourable Infrastructure Real Estate Construction MARKET & ENVIRONMENT PROTECTION Innovation, ThE FuTure of TExtile Sector FARMINg AND FOOD PRODuCTION IN ThE NATIONAL ECONOMY Science & EDucation Culture, Recreation & TOurism in Lithuania ADVANCED ECONOMIC PERFORMANCE Investment and Business Climate LEgal ENvironment in Lithuania FINANCIAL MARKETS LITHUANIAN ELECTRICITY Favourable Infrastructure Real Estate Construction MARKET & ENVIRONMENT PROTECTION Innovation, ThE FuTure of TExtile Sector FARMINg AND FOOD PRODuCTION IN ThE NATIONAL ECONOMY Science & EDucation Culture, Recreation & TOurism in Lithuania ADVANCED ECONOMIC PERFORMANCE Investment and Business Climate LEgal ENvironment in Lithuania FINANCIAL MARKETS LITHUANIAN ELECTRICITY Favourable Infrastructure Real Estate Construction MARKET & ENVIRONMENT PROTECTION Innovation, ThE FuTure of TExtile Sector FARMINg AND FOOD PRODuCTION IN ThE NATIONAL ECONOMY Science & EDucation Culture, Recreation & TOurism in Lithuania ADVANCED ECONOMIC PERFORMANCE Investment and Business Climate LEgal ENvironment in Lithuania FINANCIAL MARKETS LITHUANIAN ELECTRICITY Favourable Infrastructure Real Estate Construction MARKET & ENVIRONMENT PROTECTION Innovation, ThE FuTure of TExtile Sector FARMINg AND FOOD PRODuCTION IN ThE NATIONAL ECONOMY ADVANCED ECONOMIC PERFORMANCE 1.1 Minimal Economic & Political Risks 1.2 Macrostability & Flexibility 1.3 Laws Best Harmonized with EU Legal Acts 1.4 Part of the Competitive Baltic Sea Region 1.5 Well-balanced Economic Growth 1.6 Advancing Innovation Policy 1.7 Easiest Place to Do Business Information provided by Lithuanian Development Agency (LDA) ADVANCED ECONOMIC PERFORMANCE Investment and Business Climate LEgal ENvironment in Lithuania FINANCIAL MARKETS LITHUANIAN ELECTRICITY Favourable Infrastructure Real Estate Construction MARKET & ENVIRONMENT PROTECTION Innovation, ThE
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