Moreover, Regimantas Jablonskas believes that investors opt for Lithuania on account of close ties with the CIS countries. „ Admittedly, foreign investors that are interested in Baltic region carefully assess country‘s financial, economic status and taxes. Moreover, they show interest in country‘s strategic position and in companys‘ objectives. Our goal is to show that Westerners not only can invest in Lithuania but also expand their business here. We can be a key to the CIS market since Lithuanian show great awareness of Belarus, Ukraine and Russian mentality as well as business rules.“-R.Jablonskas points out.

This year, Britain‘s „Barclays“ bank announced their investment plans in Lithuania. They are going to set up a service centre. Furthermore, Finnish company „Finnfoam“ is going to build up a new insulation materials plant in Free Economic Zone in Kaunas.

Lithuania close to Sweden

Jurgita Grigienė, the Honorary Consul of the kingdom of Sweden in Lithuania believes that geographic location and properly skilled labor force are the main reasons for massive Swedish investments in Lithuania. „Lithuania and other Baltics States are the nearest neighbours. Efficient logistics has a significant impact on business competitiviness. Delivery from Baltics States is far more comfortable compared to options in China or Ukraine. In my view, one of the key aspects why Swedes opt for investment in Lithuania is the geographic location. Other aspects – highly skilled specialists, market potential,“- claims J.Grigienė.

In Lithuania, you can find the largest wood panel plant in Baltic States „Girių bizonas“, owned by the Swedish group IKEA as well as plastic products factory KB Components in Kaunas. Lithuania has an active commercial capital of the Swedish banks – SEB, SWEDBANK, NORDEA, telecom companies – “TEO”, “OMNITEL”. According to Consul J. Grigienė, Swedish investment in Lithuanian energy sector should encourage joint Lithuanian-Swedish electricity link.

Production transfer to Lithuania

Last year, Norway‘s capital of enterprise group SVENHEIM invested 20mln Lt in furniture manufacturing factory in Alytus. „SVENHEIM“ in Alytus produce high quality kitchen with office furniture components and special furniture for the Norwegian market.

According to M.Horbačauskas, the main cause of production transfer to Lithuania is lower production costs. „ In Lithuania, there is a far better labor force price than in Scandinavia“,- says M.Horbačauskas.

Latvia have chosen the best

Latvian Chamber of companies have recently chosen the most successful Latvian company operating in Lithuania. It was awarded the „Nameisio Ring“.

"Nameisio Ring Awards were organized for the second time. Last year, the best Latvian company in Lithuania was chosen Parex Bank. “BTA Insurance”, “Tilde IT”, “Drogas”, “Grindex”, “Air Baltic” was awarded as well. By the year 2009, total Latvian company investment in Lithuania was 2.02 billion Lt.

Why is worth investing in Lithuania?

Stability. The development of business-friendly macroeconomic environment is well formed in Lithuania.

Low risk. „The Economist“ magazine‘s Research Unit „Economist Intelligence Unit“ found out that Lithuania is a country where economic and political risk is very low. Lithuania is a member of EU and NATO. What is more, Lithuania is based on the Western model of domestic and foreign policy.

Easy to take up a business. The World Bank has acknowledged that in Lithuania, compared to other new EU members, is the easiest to take up a business due to small bureaucracy obstacles.

Convenient geographical location. The European Union has recognized Lithuania as the prime transport centre in the region, linking the Eu with the East.

The capital protection. Lithuania offers equal protection and guarantees for both local and foreign companies. Furthermore, Lithuania ensures free movement of capital and dividends as well as free access to all sectors of the economy.

Low fees. In Lithuania, there is a small capital taxation base and income tax is rather low.

Cheap and qualified labor force. In Lithuania, the average wage is below the EU average. Nonetheless, the qualification is high.

Innovation and technology. Enterprises in Lithuania tend to use the latest technology that ensures an adequate job performance.