Doing Business in Lithuania
Lithuania presents opportunities for businesses exporting abroad. Sectors include information technology, client support centres, and renewable energy as well as transportation, logistics and bio-plastics production.
Benefits
Located between the Northern and Eastern Europe, Lithuania is the largest of the 3 Baltic States.
Lithuania has benefited from the EU assistance and development funds, amounting to 180 million EUR per annum, since joining the EU. This has helped modernise the economy. Lithuania is a member of the Schengen Area as well.
Lithuania is ranked 24th in the World Bank Ease of Doing Business report. Lithuania joined the Eurozone in 2015.
Benefits for businesses exporting to Lithuania include:
English as business language
political and economic stability
Strengths of the Lithuanian market include:
strategic location
funding and support for businesses
transport infrastructure
multilingual, educated population
information Communications Technology infrastructure
Popular industries
There is a number of popular industries in Lithuania that have the advantage of being more developed, sponsored and invested in. Because of that, they are the most likely choice for businessmen, who wish to incorporate a business in Lithuania.
Information and communication
Information and communication technologies industry is the largest in the Baltics. There are 25,000 employees working in this sector. Modern technologies are available, such as EDGE technology, 3G mobile communications infrastructure with data speeds of 3.6 Mbps and mobile WiMAX 4G Internet, the fastest Internet upload in Europe and the greatest GSM penetration in the EU. These factors make Lithuania attractive for offshore services. Engineering industry has been constantly growing by approximately 18% every year. This industry is competitive in terms of cost and quality and it is well-integrated into the global supply chains. Products by the Lithuanian engineers are adapted by such companies and organisations as NASA, Boeing, U.S. Army, BMW, Volkswagen, Hitachi, Siemens and Mitsubishi.
https://www.baltic-legal.com/doing-business-in-lithuania-eng.htm
