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About Lithuania
 Lithuania
is one of the fastest growing economies in Europe (7.5%
GDP growth in 2006). |
Population
 |
3.4 million.
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Geographical Area
| Total area 65.3 thousand sq. km
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| Agricultural land 35.0 thousand
sq. km (54%) |
| Forests 19.8 thousand sq. km (30%)
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| Inland waters 2.6 thousand sq.
km (4%)
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Climate
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Transitional between maritime and continental |
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Major resources
| Timber, peat, gravel,
construction sand, quartz sand, dolomite, clay, limestone, brick
clay, mineral water. |
| Limited amounts of recoverable oil
have been discovered in the western part of the country and in
adjoining areas offshore. |
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Industrial base, currency
| Electronics, chemicals,
construction materials,
food processing and light industry,
including the manufacture of textiles, clothing, furniture.
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| National currency - Litas (LTL).
1 EUR = 3.4528 LTL |
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| Source: Department
of Statistics of Lithuania,
www.std.lt |
About Lithuanians:
Invest in Lithuania
| With one of the
most educated
people in Europe, |
| the largest,
most diversified, and
highly competitive
industries in the Baltics, |
| low taxes
and costs, and |
| half of the GDP of the Baltic States. |
Lithuania is a
gateway to
| huge
European Union
market, |
| rich neighboring
Scandinavia,
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| growing
Eastern European and
Russian markets,
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| fast developing
Baltic States.
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Reasons to start and develop business in
Lithuania:
Easy
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The World Bank Group Report “Doing Business in 2006: Creating Jobs” named Lithuania one of the World Top 20 economies
(15th in the world) and the best of the new EU states on the ease of doing business.
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Lithuania has a modern banking and financial
system. The modern banking technologies, such as e-banking,
etc. are fully implemented in Lithuania. The costs of commercial
loans from Lithuanian banks are among the lowest in
Europe, ranging from 5.5% to 6% per year.
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Lithuania offers excellent infrastructures
for foreign businesses. Lithuania has 4 international
airports with direct routes to most European cities, best roads in
the Baltics, an ice-free sea port and an efficient railway system.
Fast Internet is available in all Lithuania’s regions, the number of
mobile telephone network subscribers is just the same as the
population of Lithuania.
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Safe
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Lithuania is a full member of NATO and the EU,
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Lithuanian laws are harmonized with those of
the EU, the country offers unrestricted movement of capital
and dividends,
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Lithuania pursues a stable and effective
monetary policy. Lithuania is the only among new EU
members, expecting the Eurozone entrance, meeting all 4 Maastricht
criteria for state budget deficit, state debt, inflation and
interest of long-term Government securities. The country expects to
become a member of the European Monetary Union in 2007, earliest
among the EU-10.
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Profitable
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Lithuania is the least expensive country to
do business in the new EU-10 states, according to the
results of the survey carried out by DHL in 2004. The Pricerunner
2004 report also named Lithuania as the least expensive country in
Europe.
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Lithuania pursues a low-tax policy.
Lithuania’s tax-to-GDP ratio in 2004 was 28.7%, the lowest
in the EU. Corporate tax is only 15%. There are long tax
holidays in Lithuania’s Free Economic Zones. For more information on
the Free Economic Zones please see pages
www.fez.lt and
www.ftz.lt .
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Lithuanians are well known for their
diligence and are praised by foreign business people for
their high qualifications, loyalty and strong motivation.
Lithuanian labour productivity / labour cost ratio is the highest in
the Baltics and three times higher than the EU-15 average.
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Source: Lithuanian Development
Agency,
http://www.lda.lt/ |
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