Lithuania Is Becoming Increasingly Attractive to International Investors

2017-12-07 16:30

Lithuania is now the 16th most business-friendly country in the world, according to the World Bank’s Doing Business 2018 index, Invest Lithuania informs. 

Lithuania climbed 5 positions in the annual ranking – which rates 190 countries on their business environment – and now sits ahead of the likes of Ireland (ranked 17th) and Germany (20th).

Furthermore, Lithuania is the only country in the Central and Eastern European region to have improved its position in the Doing Business index this year. Every other country in region saw its ranking slip, with the exception of Estonia which was a non-mover.

For the index, the World Bank assesses the progress of countries across ten criteria. It recognized that since the last Doing Business index, Lithuania has made positive reforms in four key areas: obtaining construction permits, connecting to electricity networks, protecting minority investors, and paying taxes. Lithuania was 2nd in the whole of Europe and Central Asia for the number of reforms leading to an improvement in the conditions for business.

Foreign companies considering potential investment locations pay close attention international rankings when compiling their so-called long lists of possible countries. And the Doing Business index is the most well-regarded of these rankings. So, Lithuania’s considerable rise this year should ensure it features on the long lists of many companies looking for investment locations.

The living proof of the improvement of Lithuanian climate for foreign investors is more than 250 million euros, which will be invested in international business development in Kaunas region. A lot of the investment is going into building or expanding production sites and offices in Kaunas Free Economic Zone.

Kaunas FEZ is benefitting from being located next to a large city famous for industrial and technological traditions. The label of “technological city” is certainly attractive to the investors and Kaunas University of Technology plays a crucial role here. A pool of highly qualified professionals is often mentioned as one of the main reasons for choosing Kaunas.

“Our new production site will not be a factory; therefore, we are looking for highly qualified staff. Are we planning to invest into universities, which could prepare the much needed professionals for us? In the future, probably yes. We have already started to discuss this with KTU”, says George Maliekel, the President and the General Manager of Hollister Incorporated, global manufacturer of medical devices and equipment.

It is being estimated that at least 600 new jobs will open for different professionals in Kaunas region in a few years. It promises a great perspective not only for future graduates, but also for Lithuania – opening career possibilities should play an important role in decreasing emigration and brain drain.

Related news

2015-09-11 14:15
If You need an answer to the question „Why focus on Career?“ there is one given below. Katie Jarvis in her presentation will share some simple tactics and techniques that can help to focus and build Your career. Traditionally ‘Career development’ meant upward promotion. However, organisations are flatter and leaner...
2017-12-14 16:15
Kaunas University of Technology (KTU) Council has announced the public international competition for the position of the University’s Rector. The official start of the election process is Monday 11 December. The Rector is being elected in public international competition and appointed by the KTU Council, which is...
2017-12-13 12:00
During an official ceremony on the evening of the 12th of December in the town of Urbino, Italy, the director of KTU Institute of Europe, one of the most experienced and influential European diplomats, Vygaudas Ušackas was awarded with the regalia of a special honorary degree. The ambassador received one of the...
2017-12-12 15:45
This is to inform that on the 19th of December from 9 am. till 12 pm. eLABa software upgrade will be held – version 1.21 eLABa ETD and PDB subsystem will be installed. Please, do not upload any data to eLABa ETD and PDB subsystem at the specified time. Due to software upgrade works some functions (reports...
2017-12-11 15:30
On the 14th of December (Thursday) from 2:30 pm. book orders will not be carried out. We apologize for any inconvenience.
2017-12-08 16:30
The University of Nottingham, United Kingdom (UK), has joined the European Consortium of Innovative Universities (ECIU), which has Kaunas University of Technology as the only member from Lithuania. Nottingham is a global, research-intensive university that further strengthens the ECIU international research network....
2017-12-08 15:45
This weekend is the best time to start your Christmas shopping, Kaunas Tourism Information Office reminds. Make sure you include Christmas POP-UP in Mykolas Žilinskas Art Gallery, Fashion Bazaar in Žalgiris Arena and Gift Town in Kaunas Sports Hall in this weekend’s destinations. The team at POP-UP are known for the...
2017-12-01 15:00
At 6pm on Saturday, 2 December the festivities of lighting the main Christmas Tree of the city will take place. Kaunas Town Hall Square will officially become the centre of the Lithuanian Christmas Capital. Kaunas city is promising that the festive mood will match that of Hollywood films. Traditionally, the 12-meter-...