Enterprise Lithuania
A number of foreign investors, who started their business in Lithuania, could witness that in Lithuania they found what they were expecting to find and benefit from.
They found and have been benefiting from a unique combination of what is regarded as Northern quality and character – stable, reliable, clean, orderly, natural and calm, and Eastern - new, vigorous, arising and yet non-discovered. The EU and NATO member, and part of the Schengen area, as well as a close business partner for Scandinavian and other neighbouring countries, Lithuania appears as a Northern stability and reliability example. Also, Lithuania, surprisingly enough, appearing as the global leader in certain laser production and the inventor of a new medicine against cancer, is a brightly arising Eastern star. Lithuania is a special Northeastern land.
Strategical Location Between Huge Markets
Lithuania has much to offer the foreign investor seeking to set up in the Baltic Region as a springboard to the East as well as to the wider European market.
David Earp, UK Trade & Investment, Cambridgeshire
Today Lithuania appears on the international investment map as not-to-miss location for the international business expansion, as the country has an excellent geographical location. Lithuania is in the very center of the market of 16 million people within a 300 km radius. The European Union has recognized Lithuania as the prime transport centre in the region linking the EU with the East. The EU’s Transportation Commission designated the two routes running through Lithuania, the North-South highway and the rail route connecting Scandinavia with Central Europe as well as the East-West route linking the huge Eastern markets with the rest of Europe, as being among the ten most important in Europe. The country has a well-developed network of highways, railways, 3 international airports as well as the northernmost ice-free and highest-capacity Eastern Baltic port.
Well-educated Multilingual Labour Pool
I am very happy about the qualifications and competence of the employees in Lithuania, not to mention that it is cheaper.
Herald Emberger, former CEO of Mars Lithuania
One of the best-educated and multilingual human resources in EU-12 are in Lithuania. The percentage of the Lithuanian population with higher education is two times higher than the EU-15 average. Every third Lithuanian speaks English, and eight Lithuanians out of 10 speak Russian. Polish is much more wide-spread in Lithuania than in all other EU countries. Half of the population speaks two foreign languages.
Modern Knowledge Economy
Whether it’s playing jazz or spearheading the Fluxus avant-garde art movement, Lithuanians have a natural inclination for rearranging, for looking at things with fresh eyes, for coming at reality from an unusual angle. So it should not come as a surprise that Lithuanian bioscientists have invented a way of using enzymes to cut genes three times quicker than the best previously known methods.
Wally Olins, Saffron Brand Consultants
Promotion of innovations and scientific research has been the priority goal for the Lithuanian Government. 9 Lithuania’s science and technology parks (STP), located in country‘s most developed economic centres with a great concentration of qualified human resources available, offer favourable infrastructure for the establishment of new innovative businesses in Lithuania and serve as a convenient space for business enterprises, scientists and students to combine their knowledge, experience and ideas, and lead to the development of innovations as well as initiation and implementation of numerous business projects.
A poll commissioned by the Ministry of Economy of Lithuania showed that Lithuanian business enterprises’ annual budgets include funds for investing in innovative products. Almost 70% of industrial enterprises and more than 60% of the leading retail businesses inquired anticipate spending part of their budget for innovation.
The well-developed ICT sector shows that Lithuania is a perfect place to generate and realize new ideas. Lithuania is the 1st in the world by the number of mobile telephone subscribers per 100 population and 1st in Europe by GSM penetration. The Global Competitiveness Report 2008-2009 by the World Economic Forum reveals that Lithuania has got the largest number of mobile subscribers – 138,1 – per 100 population. Also, with the GSM penetration of 170% Lithuania is the European leader according to the GSM European Coverage 2007.
Home of New NOKIA
So far, our scientists are the only ones in Central and Eastern Europe to have pulled off such a high-level project.
Algirdas Bumelis, Head of Sicor Biotech - producer of TevaGrastim®, a cheaper, but not less effective, new version of an existing medicine for treating cancer
Lithuania deserves to be named as the home for the next NOKIA because significant European and world-scale records belong to the country. Lithuania is a leader in global production of ultra-fast parametric light generators and is the biggest exporter of femtosecond lasers in the world. Laser producers have over 50% of the world market for high-energy pico-second lasers. Lithuanian laser companies were among the first in the world to transfer fundamental research into manufacture.
Lithuanian pharmacy specialists created a cheaper, but not less effective, version of an existing medicine for treating cancer. TevaGrastim(R) is 25-35% cheaper than a similar treatment already on the market, but just as effective. The European Medicines Agency granted the marketing authorization for the Lithuanian invention to be marketed in Europe from 2009.
One of the Most Competitive Business Set-up and Operation Costs
Lithuania is ranked 28 out of 181 of the world’s economies on the ease of doing business in Doing Business 2009 by the International Bank for Reconstruction and Development and the World Bank.
A variety of financial incentives is available for foreign businessmen on the Lithuanian market, such as non-refundable support through EU Structural Funds until 2013 for business development (implementation of e-business technologies, equipment and technology modernization, encouragement of R&D projects and creation of innovative products) and staff training, as well as State’s support for R&D projects, investments into new technologies as well as employment projects, and also tax “holidays” in 2 free economic zones and land or real estate tax relieves offered by local municipalities.
First-class Quality of Life
Not only are there excellent business opportunities, there is a welcoming social atmosphere too amongst these very genuine ad friendly people.
David Earp, UK Trade & Investment, Cambridgeshire
