Prezentacija Internetui En
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Lithuania in the World• Territory: 65,300 km2
• Common borders with: Latvia Belarus Poland Russia (Kaliningrad Region)
• Population: 3,4 million (84% of Lithuanians, 7% Poles, 6.5% Russians )
• Capital and biggest city: Vilnius (population: 542,000)
• State Language: Lithuanian
• State Government: Democratic Republic
• Religion: 80% of Roman Catholics, 5% Orthodox
Lithuania Attractive for Business Establishment and Expansion
• Convienent geografical location
• Stable macroeconomic environment
• Competitive business development costs
• Ecxellent infrasctructure
• Industrial network and incentives for investors
• Attractive business sectors
• Quality human resources
• Highest life quality among the Baltic States
110 m Baltic Sea Region population
340 m WesternEuropean population
250 mCIS population
Part of the Baltic Sea Region & Crossroads of Huge Markets
Source: Lithuanian Department of Statistics, www.stat.gov.lt
Half of the Total Baltic GDP, 2007
Estonia 23%
Latvia 29%
Lithuania 48%
2005 2006 2007 2008 (forecast)
2009 (forecast)
GDP, EUR bn
20,7 23,8 28,1 31,9 35,1
GDP, % 7.9 7.7 8.8 5.3 4.5
Annual average inflation, %
3 4.5 8.1 9.2 5.1
FDI, EUR bn
6,9 8,3 10 - -
Exports, EUR bn 9,5 11,3 12,5 -
Exports growth, % 17.7 12.2 4.7 9.1 7
Import, EUR bn 12,4 15,4 17,7 - -
Imports growth, % 17.2 13.8 9.1 8.1 5.5
Unemployment, % 8.3 5.6 4.3 5.2 6
Lithuanian Economy at a Glance
Sources: Lithuanian Department of Statistics, www.stat.gov.lt, Ministry of Finance, www.finmin.lt
Lithuania and Maastricht Criteria
Maastricht (Convergence) Criteria
Criterion figure in 2007
Lithuania’s performance in 2007
Price stability (Inflation rate) 2.8% 5.8%
State finances: - Government deficit - Government debt
3%60%
0.9%17.7%
Currency exchange rate 3,4528 ±15% 3,4528
Long-term interest rate 6.4% 4.5%
Sources: Eurostat, European Central Bank, Bank of Lithuania, Ministry of Finance
GDP by Economic Sectors, 2007
0% 10% 20% 30% 40% 50% 60% 70%
Agriculture
Construction
Industry
Services
5%
8%
23%
64%
Source: Lithuanian Department of Statistics, www.stat.gov.lt
FDI in Lithuania, EUR bn, %
Source: Lithuanian Department of Statistics, www.stat.gov.lt
0% 5% 10% 15% 20%
Netherlands
Latvia
Finland
Estonia
Germany
Russia
Sweden
Denmark
Poland
4.3%
4.4%
5.2%
5.9%
8.6%
9.6%
11.7%
12.9%
18%
Major Countries Investors, 2007
Source: Lithuanian Department of Statistics, www.stat.gov.lt
0% 5% 10% 15% 20% 25% 30% 35% 40%
Other
Hotels and restaurants
Construction
Real estate
Electricity,gas,water supply
Trade
Transport, storage and communication
Financial intermediation
Manufacturing
2.1%
0.8%
1.6%
8.4%
9.3%
11.5%
12.8%
17.2%
36.3%
FDI in Lithuania by Sector, 2007
Source: Lithuanian Department of Statistics, www.stat.gov.lt
Slide 12
Top Investors in Lithuania
1999 2000 2001 2002 2003 2004 2005 2006 2007
Exports 3483 4417 5314 5881 6158 7478 9490 11266 12512
Imports 5605 6326 7366 8279 8526 9958 12498 15437 17667
0
4000
8000
12000
16000
20000
Lithuania’s Foreign Trade, EUR m
Source: Lithuanian Department of Statistics, www.stat.gov.lt
0% 10% 20% 30% 40% 50% 60% 70%
Denmark
United Kingdom
Estonia
Poland
Germany
Latvia
Russia
CIS
EU
4.1%
4.6%
5.8%
6.3%
10.5%
12.9%
15%
10.7%
24.5%
Lithuania’s Major Exports Partners, 2007
Source: Lithuanian Department of Statistics, www.stat.gov.lt
0% 10% 20% 30% 40% 50% 60% 70%
EstoniaSweden
ItalyNetherlands
LatviaPoland
GermanyRussia
CISEU
3.6%3.7%4%4.3%5.5%
10.6%15%
18%9.8%
21.9%
Lithuania’s Major Imports Partners, 2007
Source: Lithuanian Department of Statistics, www.stat.gov.lt
0% 5% 10% 15% 20% 25%
Other
Animal products
Prepared foodstuffs;beverages;tobacco
Miscellaneous manufactured articles
Plastics and articles thereof
Textiles and textile articles
Chemical products
Transport means
Machinery and equipment
Mineral products
21.4%
5.5%
6.1%
6.8%
7.5%
7.5%
8%
10.5%
12.9%
13.8%
Lithuania’s Exports by Products, 2007
Source: Lithuanian Department of Statistics, www.stat.gov.lt
0% 5% 10% 15% 20%
Other
Prepared foodstuffs;beverages;tobacco
Plastics and articles thereof
Textiles and textile articles
Base metals and articles thereof
Chemical products
Transport means
Mineral products
Machinery and equipment
18.1%
4.2%
4.2%
4.8%
7.8%
9.7%
16.4%
17.3%
17.5%
Lithuania’s Imports by Products, 2007
Source: Lithuanian Department of Statistics, www.stat.gov.lt
1.1%
1.9%
3.8%4.9%
5.4% 6%
6.2%
8.8%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
2000 2001 2002 2003 2004 2005 2006 2007
Profitability of Businesses Constantly Increasing
Non-financial enterprises profitability growth
Source: Lithuanian Department of Statistics, www.stat.gov.lt
One of the Most Business-friendly Tax Policies in the EU
Ranking of total tax revenue by countries in 2006 as a percentage of GDP
Source: Eurostat
29.229.53030.431.1
41.241.8
46.146.8
49.750
0 10 20 30 40 50 60
ROSKLTLVEE
EU27EA13
FRBESEDK
Slide 20
Main Business Taxes, 2008
Tax %
Corporate profit tax 15
VAT 18
Dividends 15
Personal income tax 24
One of the Lowest Taxes in Central and Eastern Europe, 2008
5% for books, magazines, medicine, frozen and ecologic food products, passenger transportation etc.
9% for residential property construction and renovation
Corporate tax, %
Personal income tax, %
VAT, %
Lithuania 15 24 18
Latvia 15 25 18
Estonia 21 21 18
Poland 19 19, 30, 40 22
Czech Rep. 21 15 19
Slovakia 19 19 19
Hungary 16+4 18, 36 20
Bulgaria 10 10 20
Romania 16 16 19
Wages, 2008 IIQ
Wages EUR
Minimal hourly wages 1,40
Minimal monthly wages 232
Average monthly wages 648
Source: Lithuanian Department of Statistics, www.stat.gov.lt
0 1000 2000 3000 4000
LithuaniaLatvia
HungaryEstonia
Czech RepublicPoland
SloveniaIreland **
Germany **Norway *
594
635
721
784
852
919
1326
2330
3103
3784
Competitive WagesAverage monthly salary in EUR, 2007
* Sept 2007, ** in industry in 2006 Source: National Statistical Offices
Slide 24
• Opening a company:
up to EUR 600 (documentation preparation, notary public services, registration) and up to 15 days
• Minimum authorized capital for:
private companies - EUR 2,900
public companies - EUR 43,450
Business Establishment Costs
Purchasing Power in Lithuania (1)
Purchasing power index by UBS investment bank (Switzerland)
Source: UBS Investment bank (Switzerland), www.ubs.com
0 20 40 60 80 100
Warsaw, PolandRiga, Latvia
Vilnius, LithuaniaBudapest, Hungary
Tallinn, EstoniaBratislava, Slovak Rep.
Ljubljana, SloveniaPrague, Czech Rep.Stockholm, Sweden
London, Great BritainBerlin, GermanyNew York, USA
28.82931.234.235.637
4448
78.686.8
99.7100
Purchasing Power in Lithuania (2)
0 20 40 60
Bratislava, Slovak. Rep.Budapest, Hungary
Vilnius, LithuaniaWarsaw, PolandTallinn, Estonia
Prague, Czech Rep.Ljubljana, Slovenia
Riga, LatviaStockholm, Sweden
Berlin, GermanyLondon, Great Britain
New York, USA
5548
4343
3939
3528
211716
13
Purchasing power index by UBS investment bank (Switzerland)
Source: UBS Investment bank (Switzerland), www.ubs.com
Period of time (minutes) needed to earn for 1 McDonald’s Big Mac hamburger
Slide 27
• Crossroads of international transport routes - two EU-priority transport corridors
• International airports (located in Central, Eastern and Western Lithuania) with direct routes to most European cities
• Northernmost and only ice-free seaport on the eastern shore of the Baltic Sea – Klaipėda State Seaport
Excellent Infrastructure
Direct Routes to Most Cities
• Transport hub, connecting sea, land and railway routes from East to West; main shipping lines to the ports of Western Europe, South-East Asia and the continent of America pass through the port
• Handling around 20% of all freight passing through the Eastern Baltic ports; container handling capacity the greatest among the Baltic ports
• The draught of the entrance channel is 15 meters and the draught of the port navigation channel is 13-14,5 meters. It is foreseen to increase the water depth in the northern part of the port up to 17,5 meters
• Handling roughly 7,000 ships every year and 21 mn tonnes of cargo; accepting large-tonnage vessels: dry-cargo vessels up to 70,000 DWT, tankers up to 100,000 DWT and cruise ships up to 215 meters length
Klaipėda State Seaport – Major Transport Hub
Ro-ro lines
General cargo lines
Container lines
Shipping Lines
Slide 31
Convenient Industrial Network
Klaipėda FEZ:412 ha greenfield territory
Kaunas FEZ: 534 ha greenfield territory
8 industrials parks:greenfield territory from 15 to 219 ha
Diversified Industry
• Industry - N 23% of country’s GDP
• N 40% of total FDI settles down in industry (EUR 3.7 bn in 2007)
Source: Lithuanian Department of Statistics, www.stat.gov.lt
• At least a EUR 5.8 m or, in the case of investment into the development of a R&D centre, at least a EUR 1.4 m investment in the territory of Lithuania will become eligible for the Programme support
• Priority will be given to the direct investment associated with development of sectors of high and medium-high technologies, also increasing number of companies generating high value-added products, solution of employment problems, and creation of quality jobs that are particularly attractive to highly qualified specialists
New Investment Promotion Programme for the Years 2008-2013
EU Support for Lithuania in 2007-2013
Approx. EUR 7 bn (approx. EUR 3 bn in 2004-2006)
0% 10% 20% 30% 40% 50%
Operational Programme of Technical Assistance
Operational Programme for the Development of Human Resources
Operational Programme for the Promotion of Cohesion
Operational Programme for Economic Growth
1.4%
13.8%
39.1%
45.7%
Source: Ministry of Finance, www.finmin.lt
Slide 35
Promising Economic Sectors (1)
• Transport & logistics – excellent geografical location and infrastructure
• Energy – promising international energy projects
• Business services – huge demand not only in Lithuania, but also in the whole Baltic Sea Region
• ICT – companies leading among the Baltic States
• Biotech – production does not have equivalents in Central and Eastern Europe
• Plastics – with three huge plants leading in the region; greatest scope of FDI in Lithuania
• Lasers – global leader in production and exports of certain products
Slide 36
Promising Economic Sectors (2)
• Machinery & electrical equipment – widely-acknowledged high-tech products
• Furniture & wood processing – one of the largest factories in Eastern Europe; among most important suppliers for IKEA
• Textile & apparel – 20% of labour force in manufacturing industry, innovative production
• Food – widely demanded, 1/3 exported
• Real estate – largest market among the Baltic States with the biggest development potential
• Tourism – well-preserved nature; developed business network of rural tourism; world-class entertainment and leisure services; forthcoming Lithuanian events of international importance
Slide 37
• One of the best-educated people in Central and Eastern Europe; the percentage of Lithuanian population with higher education is two times higher than the EU-15 average and is also the highest in the Baltic States (source: Eurostat)
• 22 universities and 28 colleges with a total enrolment of 200,000 students
• Kaunas University of Technology (www.ktu.lt) - largest technical university in the Baltic States
• One of the most multilingual peoples in the EU - among five EU countries with the highest percentage of people speaking at least one foreign language (mostly English, Russian and Polish)
Lithuania’s “Gold and Oil”
Source: Lithuanian Department ofStatistics, www.stat.gov.lt
0% 10% 20% 30%
OtherComputing
Architecture and buildingArts
HumanitiesEngineering
Social scienceLaw
Teacher training adn education scienceBusiness and administration
17%4%4%4%5%
8%
8%
9%18%
23%
Most Popular Professions
Most popular higher education progammes, 2006-2007
High Quality of Life
• 22 universities and 28 colleges (in all 5 biggest cities), more than 60,5 thous. education specialists
• More than 3700 medical institutions, approx. 14 thous. doctors, 400 doctors for 100 thous. inhabitants
• 3700 wireless Internet zones, mobile communication penetration of 147% in 2008 IQ, almost 5 million active SIM cards
• 25,7 thous. new cars registered in 2007, which is by 41% more than in 2006, and the most among the Baltic States
• 4 UNESCO World heritage sites
• Well-preserved nature, ecological tourism
• World-class entertainment and leisure services, international cultural festivals
• Prices are approximately 65% lower than the EU average
Perfect Place for Vacation
WWW.LDA.LT
Lithuanian Development Agency (LDA)
• A-to-Z information on the Lithuanian market
• Guidance through the entire investment process • Search for matching Lithuanian partners, building contact networks
• Panning and implementing international projects
• Millenium of Lithuania in 2009
• Vilnius – European Capital of Culture 2009
• The World Forum for Direct Investment 2009
• Presidency over Organisation for Security and Co-opration in Europe (OSCE) in 2011
• European Men’s Basketball Championship in 2011
• EU presidency during the 2nd half of 2013
Forthcoming Lithuanian Events of International Importance