Investment Promotion Programme for the years 2008-2013
The Investment Promotion Programme for the years 2008-2013 (Programme) was approved by the Government of Lithuania on 19 December 2007, authorising the Ministry of Economy to coordinate the implementation of the Programme. LDA will participate actively in the implementation of the Programme.
The main goal of the Programme is to improve the investment environment in Lithuania and develop an effective investment promotion system for foreign as well as national investments, which are oriented towards the long-term economic development and growth.
The Programme has the following objectives:
- Improve the image of Lithuania as an attractive country for investments;
- Develop flexible regulation of labour relations;
- Develop and improve the investment promotion tools;
- Develop favourable fiscal policy, facilitate the processes of territorial planning and construction procedures;
- Develop the network of industrial zones.
Priority will be given to investments into the high-tech sector and companies generating high value added products.
The Programme provides for a series of measures, one of which is to develop and improve the system of investment promotion tools.
As provided in the Programme, the measures are applicable to the investors that are implementing in the Republic of Lithuania a green-field investment project valued at LTL 20 million (EUR 5.8 million) or more and, in the case of investment made in the establishment and/or development of an R&D centre at LTL 5 million (EUR 1.4 million) or more, which meets at least one of the following criteria:
• the investment is made in a multinational company's established and/or developed branches responsible for the company's activities in more than one country or in service centres serving clients and/or companies belonging to a group of service centre companies or their branches in foreign countries;
• the investment is made by a multinational company holding internationally famous trademarks;
• the investment is made by a multinational company of high or medium-high technologies;
• the investment is made in the establishment and/or development of a company with R&D divisions and the investment in the R&D divisions amounts to the minimum of 20 per cent of the entire project;
• the investment is made in the establishment and/or development of a company, and at least 20 long-term (maintained for the minimum of three years) jobs will be created, at least 50 per cent of which will be paid a wage that is at least 3 times the average wage in the country;
• the investment is made in the formation and/or development of a company, and at least 70 per cent of the envisaged output of the company will be exported and the investment in new technological equipment will amount to at least 50 per cent of the total invested sum.
The Programme implementation will be funded from the national budget as well as from EU Structural Funds or other legitimate financial sources. The terms of support will be outlined in the detailed Rules of Funding and Administration of Support approved by the Minister of Economy.
