Activity Report 2005

The aim of the Lithuanian Development Agency (LDA) is to promote the development of Lithuanian business and the growth of the country’s economy by attracting foreign direct investment and ensuring the competitiveness of Lithuanian enterprises in international markets.

• To create a favourable image abroad of Lithuania, its economic entities, the goods they produce, and the services they provide;
• To attract as much foreign direct investment into Lithuania as possible, thereby creating conditions for more active Lithuanian competition in the regional foreign direct investment market and increasing the number of new work places in the country;
• To promote the export of Lithuanian goods so that more goods and services of Lithuanian origin are sold by implementing an active strategy of penetration into new markets and ensuring the smooth co-operation of Lithuanian and foreign companies;
• To participate in activities for the economic representation of Lithuania in foreign countries;
• To participate in creating special business and investment conditions.

The LDA consists of the International Trade Development, Investment, and Information and PR Departments and the Euro Info Centre and has 3 representative offices abroad: two in Germany (Hamburg and Offenbach am Main) and one in Italy (Milan). The Agency employs 33 people.

• It realised 9 investment projects with a value of 250 million litas (EUR 72 million) and created 910 work places; it generated 28 new investment projects with an expected value of 1285 million litas (EUR 372 million) and expects to create 3127 work places;
• Thanks to the projects realised by the LDA, Lithuanian enterprises received export orders worth 78 million litas (EUR 23 million);
• It organised 143 business promotion events for Lithuanian enterprises, foreign enterprises, and business promotion organisations: exporter clubs, specialised seminars for Lithuanian and foreign companies, trade missions to foreign countries, international exhibitions, and economic forums in foreign countries;
• It found potential Lithuanian suppliers for over 600 foreign clients;
• It provided information-consultation services on business development questions to 3600 Lithuanian and foreign enterprises;
• It organised 114 visits to Lithuania by foreign companies;
• It prepared and published 66 articles and commentaries for foreign media about Lithuania's economic and investment environment;
• It prepared and published 10 publications for the economic presentation of Lithuania (with a print run of 36 100);
• It participated in 96 international events where it presented business opportunities in Lithuania.

• It realised 9 projects for the attraction of foreign investments, the expected value of which projects is 250 million litas (EUR 72 million), and created 910 new work places. It is planning 28 new potential foreign investment projects with a calculated value of 1285 million litas (EUR 372 million) and expects to create 3127 work places;
• It organised 43 visits to Lithuania by potential foreign investors which resulted in investments in the plastics and metal processing sectors, the chemical and electronics industries, and restaurants. It organised 11 investment missions abroad.

• Thanks to projects realised by the LDA, Lithuanian enterprises received export orders worth 78 million litas (EUR 23 million);
• It found potential Lithuanian suppliers for over 646 foreign clients;
• It organised 71 visits to Lithuania by foreign companies with 322 Lithuanian enterprises being visited;
• It organised 63 export promotion events for Lithuanian enterprises, foreign enterprises, and business promotion organisations: international exhibitions, contact fairs, specialised seminars.

• Consultations were provided to 3418 enterprises on business development questions. During the consultations, it gave advice on questions of searching for partners and sources of business information, and provided information about market requirements and the regulation of international trade;
• The Euro Info Centre supplied information on the EU market. It released 2 memos with business information on separate EU regions (Scandinavia and the countries of CIS) as well as 5 EIC bulletins (4 electronic and 1 printed), which were emailed to Lithuanian enterprises and organisations.

• It prepared and published 10 publications for the economic presentation of Lithuania in English, German, French, Italian, Spanish, and Russian (a total of 36 100 copies);
• It published the electronic news bulletin ‘Advantage Lithuania’ in English, which is distributed to foreign business and media representatives. The publication is issued every 2 months;
• It initiated and prepared 66 articles and reports for foreign media about Lithuanian business opportunities and business conditions.
• It implemented 12 advertising projects for the economic presentation of Lithuania.
• It participated in 96 international events, where it presented business opportunities in Lithuania.