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Lithuania – the Smart MoveAmbassador Jonas PaslauskasConsul General of the Republic of Lithuania in New York
LithuaniaLithuania
Population: 3.4 M
Area: 65,300 sq. km
In-between Huge MarketsIn-between Huge Markets
250 million CIS consumers
340 million Western European consumers
110 million Baltic Sea Region consumers
Total Baltic GDP
Lithuania 47% Latvia 29%
Estonia 24%
One the Best Performing EU One the Best Performing EU EconomiesEconomies • Performance ranked as one of the best in the European Union (IMF)
• Very low economic and political risks (“Economist
Intelligence Unit”, the research subdivision of “The Economist” magazine)
• Easiest place to do business among new EU members (World Bank)
According to “Eurostat”, the EU statistics agency,
the annual increase of Lithuanian industry production
(13.7%) is three times greater than
the EU industry growth and the biggest among all EU
members
2002 2003 2004 2005 2006 2007
GDP growth (%)
6.8 10.5 7 7.5 7.7 8*
CumulativeFDI (€ bn)
3.8 4 4.7 5.4 8.3 9,2**
Source: Lithuanian Department of Statistics, DnB Nord *2007 second quarter data ** as of April 1, 2007
LithuaniaLithuanian Economy at a Glancen Economy at a Glance - I - I
2002 2003 2004 2005 2006 2007
Exports (€ bn)
5.9 6.4 7.4 9.5 11.2 7*
Imports (€ bn)
8.3 8.8 9.8 12.5 15.4 10*
Source: Lithuanian Department of Statistics, DnB Nord * as of August 1, 2007
LithuaniaLithuanian Economy at a Glancen Economy at a Glance - II - II
Export / import growth forecasts
During the first 7 months of 2007, in comparison with the same period of 2006, Lithuania’s exports increased almost 10%, and imports leaped 17%.
Exports growth was much influenced by the increase of exports of the following production: fertilizers, vehicles, articles of plastics, machinery and equipment
Increasing imports of vehicles, chemical products, iron and steel had an influence upon the rapid growth of Lithuania’s imports during the first 7 months of 2007
2002 2003 2004 2005 2006 2007
Inflation -1% -1.3% 2.9% 3% 4.5% 4.5*
Unemployment rate
13.8% 12.4% 11.4% 8.3% 5.6% n/a
Source: Lithuanian Department of Statistics, DnB Nord *Forecasts
LithuaniaLithuanian Economy at a Glancen Economy at a Glance - III - III
Lithuanian GDP
Construction7%
Industry26%Agriculture
6%
Services61%
Source: Lithuanian Department of Statistics
9200
469039683821
308827072392
6921
8333
1999 2000 2001 2002 2003 2004 2005 2006 April 2007
Source: Lithuanian Department of Statistics
(€ mln)
Source: Lithuanian Department of Statistics
Cumulative FDI in Lithuania
Finland6.7%
USA2.8%
Germany9.9%Denmark
15.3%
Estonia5.9% Russia
6.3%
Sweden10.6%
Other15.1%
Poland 22.6%
Major Countries Investors as of January 1, 2007
Source: Lithuanian Department of Statistics
MAJORMAJOR US INVESTORS IN US INVESTORS IN LITHUANIALITHUANIA (ml(mlnn Euro) Euro)
PHILIP MORRIS 87 MARS INC. 44 KRAFT FOODS 37 COCA-COLA 36 McDonald's 10
FDI in Lithuania by Sector as of January 1, 2007
Electricity, Gas, Water Supply
10.6%
Manufacturing39.9%
Wholesale and Retail Trade
10.7%
Other4.3%
Financial I ntermediation
16%Transport, Storage
and Communication
10.9%Real Estate, Renting and
Business Activities7.6%
0
5000
10000
15000
20000
Exports 4302 3483 4417 5314 5881 6158 7478 9490 11240
Imports 6717 5605 6326 7366 8279 8526 9958 12498 15371
1998 1999 2000 2001 2002 2003 2004 2005 2006
Source: Lithuanian Department of Statistics
Source: Lithuanian Department of Statistics
Lithuania’s Foreign Trade(€ mln)
USA4.3%
Estonia6.5%
Denmark4.2%
Poland6%
Other32.6%
Sweden4.6%
UK4.3%
Netherlands4.9%
Russia12.8%
Latvia11.1%
Germany8.7%
Source: Lithuanian Department of Statistics
Source: Lithuanian Department of Statistics
Lithuania’s Major Exports Destinations 2006
Chemical Products
6.5%Miscellaneous manufactured
articles6.2%
Plastics and articles thereof5.2%
Prepared foodstuffs;beverages;toba
cco5.8%
Animal products
4.6%
Other17.1% Transport
means10.1%
Textiles and textile articles8.3%
Machinery and
equipment12.2%
Mineral products
24%
Lithuania’s Exports by Products, 2006
Source: Lithuanian Department of Statistics
Estonia3.1%
Finland2.9%
Latvia4.8%France
3.2%
Netherlands3.7%
Sweden3.3%
Italy3.4%
Germany14.8%
Poland9.6%
Russia22.4%
Other26.8%
Lithuania’s Major Imports Partners, 2006
Source: Lithuanian Department of Statistics
Lithuania’s Imports by Products, 2006Mineral
products23.6%
Machinery and
equipment17.6%
Transport means13.9%
Chemical Products
8.3%Base metals and articles
thereof7.1%
Other15.3%
Textiles and textile articles
5%
Plastics and articles thereof5.2%
Prepared foodstuffs; beverages;
tobacco4%
Source: Lithuanian Department of Statistics
Excellent InfrastructureExcellent Infrastructure
• The “Economist Intelligence Unit” (the research subdivision of “The Economist” magazine) evaluated Lithuania as a country maintaining a convenient infrastructure for business
• Northernmost ice-free port on the eastern shore of the Baltic Sea
• Best roads among the Baltic States
Excellent InfrastructureExcellent Infrastructure
• International airports (located in Central, Eastern and Western Lithuania) with direct routes to most European cities
• Convenient system of logistics & warehousing
facilities in Lithuania’s major industrial hubs
• Plenty of well-equipped office premises
Lithuania’s “Gold and Oil”Lithuania’s “Gold and Oil”
• Best educated human resources in Central and Eastern Europe (CEE); proportion of graduates highest in CEE (4.3 per year per 1000 inhabitants)
• Universities in all 5 major economic centres; largest technical university in the Baltic States
Source: Eurostat; public opinion analysis „Europeans and Languages“ by the European Commission
Lithuania’s “Gold and Oil”Lithuania’s “Gold and Oil”
• Kaunas University of Technology (KTU) www.ktu.lt – largest technical university in the Baltic States
• 90% of Lithuanians can speak at least one other language apart from their mother tongue, mostly Russian, English and Polish
Source: Eurostat; public opinion analysis „Europeans and Languages“ by the European Commission
One of the Most Business-One of the Most Business-friendly Tax Policies in the EUfriendly Tax Policies in the EU
29,229,529,63132,2
34,236,3
38,640,8
0 10 20 30 40 50
LithuaniaSlovak Rep.
LatviaEstoniaIrelandPoland
Czech Rep.Hungary
EU-25
Efficient Industry Base
Lithuanian Development Agency (LDA)
provides relevant business information services investors through the investment decision process
identifies local suppliers and sourcing organizes site and company visits
is represented in Germany, Italy and Belgium
Lithuanian Embassy in Washington DCTwo Lithuanian Consulates General – in New York and Chicago
Fifthteen Lithuanian Honorary Consuls all over USA
Lithuanian American Business Council Baltnet is a corporative member of LABC)
WWW.BUSINESSLITHUANIA.COM [email protected] WWW.LTCONSNY.ORG
To start a business in Lithuania
Lithuania - Summary I Located at the crossroads of Scandinavian, East
European and West European markets, offering knowledge-economy-oriented business environment, one of the most qualified human resources in the EU, a wide range of investment incentives (free economic zones with tax benefits and one-stop-shop services, industrial parks with developed infrastructure, access to EU Structural Funds support etc.) and the most diversified industry base among the Baltic States, Lithuania is a treasure to be discovered by foreign investors and businessmen looking for reliable business partnership and opportunities to expand their business activities.
Lithuania - Summary II Lithuania invites foreign businesses to use
the opportunity to expand their activities to the booming Lithuanian market and to join the conglomerate of many big corporate names, such as Microsoft, IBM, Philip Morris, HP, AON, Coca-Cola, Kraft Foods, Masterfoods, Siemens, Dalkia, Yazaki, SEB, TeliaSonera, Marzotto, Transcom Worldwide, DSV, Schenker, Indorama and many others, who are already at home in Lithuania. Refresh your investment portfolio and discover new opportunities in a prospering Lithuanian economy!
Laser technology in Lithuania
The French daily “Le Monde” has recently published an article about Lithuania’s world-leading laser manufacturers.
According to “Le Monde”, Lithuania is the biggest exporter of femtosecond lasers in the world. The Lithuanian laser technologies producer UAB “Šviesos konversija” only holds 80% of the global market of femtosecond lasers.
A country of 3.5 million people, Lithuania, has about 15 laser producers, employing about 300 laser specialists, half of which are engineers and doctors of sciences. Lithuania’s laser sector grows about 15-20 % annualy, which is twice faster than the whole economy of the country. The Lithuanian laser production is demanded by the best scientific laboratories in Europe and the US.
In 2008 a laser innovation center is planned to be established in Lithuania. Also, Lithuania expects to receive about EUR 600 million for scientific research and technology developments from the EU Structural funds for the period till 2013.