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Lithuania- the Smart Move starmass

Lithuania- the Smart Move www. starmass .com. Lithuania. Lithuania – 3.4 million Baltic States’ population – ~7 million Baltic Sea Region – ~152 million. The Baltic Tiger ( The Economist, 2004). Source: Lithuanian Department of Statistics, DnB Nord , Labour Exchange

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Lithuania- the Smart Move starmass

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  1. Lithuania- the Smart Move www.starmass.com

  2. Lithuania • Lithuania – 3.4 million • Baltic States’ population – ~7 million • Baltic Sea Region – ~152 million

  3. The Baltic Tiger (The Economist, 2004) Source: Lithuanian Department of Statistics, DnB Nord, Labour Exchange *Forecasts by DnB Nord, Lithuanian Department of Statistics, Labour Exchange, Lithuanian Free Market Institute, International Monetary Fund

  4. Lithuania in the World and the EU • World’s 6thbest reformer (World Bank “Doing Business in 2005: Removing Obstacles to Grow”) • Most attractiveEU country for investments (Centre for Economics and Research Ltd., theUK, 2005) • Easiest place to do business in among the Baltic States (World Bank Report “Doing Business in 2006: Creating Jobs”)

  5. VILNIUS & KAUNAS - • “Baltic Region of the Future” • VILNIUS – “Baltic City • of the Future” • EVALUATION CRITERIA: • Economic potential • Cost effectiveness • Human resources • Transport • ITT • Quality of life for expatriates • Cultural life • Best FDI promotion strategy

  6. Lithuania in the Baltics •  Closest to Western and Eastern markets • Half of the Baltic States’ economy • Most diversified industries •  Infrastructure advantages •  Technical education centre

  7. Half of the Total Baltic GDP Source: Lithuanian Department of Statistics

  8. Lithuanian GDP Source: Lithuanian Department of Statistics

  9. FDI in Lithuania (€ mill.) Source: Lithuanian Department of Statistics Source: Lithuanian Department of Statistics

  10. Biggest Investors as of January 1, 2006 Source: Lithuanian Department of Statistics

  11. FDI in Lithuania by Sector as of January 1, 2006 Source: Lithuanian Department of Statistics Source: Lithuanian Department of Statistics

  12. Lithuania’s Foreign Trade (€ mill.) Source: Lithuanian Department of Statistics Source: Lithuanian Department of Statistics

  13. Lithuania’s Major Exports Destinations 2005 Source: Lithuanian Department of Statistics Source: Lithuanian Department of Statistics

  14. Lithuania’s Major Imports Partners, 2005 Source: Lithuanian Department of Statistics Source: Lithuanian Department of Statistics

  15. Lithuania’s Exports by Products, 2005 Source: Lithuanian Department of Statistics Source: Lithuanian Department of Statistics

  16. Lithuania’s Imports by Products, 2005 Source: Lithuanian Department of Statistics Source: Lithuanian Department of Statistics

  17. Efficient Industry Base • Most diversified industriesin the 3 BalticStates Most manufactured products exported to the EU

  18. Excellent Infrastructures • Ice-free seaport: routes to major European ports • Best roads in the region • Baltic IT leader with almost 150% mobile penetration and rapid wireless Internet expansion: publicly accessible wireless Internet zones in major cities of the country • Direct flights to major European destinations

  19. Business-friendly Tax System Total Tax Revenue, % of GDP Source: Eurostat (The Economist, 30 April 2005)

  20. Salaries • Minimum salary - LTL 550 (EUR 159) • Minimumhourly wages - LTL 3.28 (EUR 0.95) •  Average salary - LTL 1 453 (EUR 421) Source: Lithuanian Department of Statistics

  21. Taxes • Profit tax – 15 % • VAT – 18 % • Personal income tax – 33 % * (after non taxable allowance of 84 Euro on monthly salaries) • Social security tax for employer (employee's contribution is 3%) - 31% • Dividends - 0 to 15 % ** • * to be reduced to 27% by July 1, 2006 and to 24% by 2008.** 0% tax on dividends applies when an investor controls at least 10% • of voting shares in the enterprise for the period of at least 12 months.

  22. Rate of population with higher education (%) (Eurostat) Country/Age 30-34 35-39 40-44 45-49 50-54 55-59 Bulgaria 19.3 21.7 20.9 16.8 15.8 12.9 Czech Rep. 14 12.9 11 10.8 10.4 8.2 Estonia 25.2 31.6 28.1 26.6 28.8 25.4 Hungary 14.9 15.5 13.8 14.8 13.3 9.8 Latvia 19.6 20.7 19.5 21.1 15.4 13.9 Lithuania 46.5 50 49.4 40.4 38.1 28.7 Poland 10.9 10.5 10.5 12 10.4 9 Romania 8.9 11.2 9.9 10.8 8.9 6 Slovakia 10.8 11.2 11.6 9.5 9 5.8 Slovenia 17.1 13.6 13.6 16.5 13.7 11.1 EU - 15 22 21 21 19 17 14 Lithuania’s “Gold and Oil”

  23. Technical education Centre • Largest number of technical students in the Baltic states • Kaunas University of Technology (KTU)www.ktu.lt - largest technical university in the Baltic States • 6 science and technology parks in the biggest cities

  24. Science and Technology Parks (STP) •  Vilnius S&TP, www.stp.lt •  Northtown Technology Park, www.smtp.lt •  Visoriai Information Technology Park,www.vitp.lt •  Kaunas High-Tech and IT Park, www.techpark.lt •  Klaipėda S&TP, www.kmtp.lt • Šiauliai University Science and Technology Park www.sumtp.lt

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