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‘Investors’ Forum’ with the Government: 13 proposals to improve business climate in Lithuania

During an annual meeting with the Government of the Republic of Lithuania, ‘Investors' Forum’ members presented thirteen proposals for a more competitive investment environment.

The most important proposals for the Government are:
- To establish a balanced and the most competitive labour regulation among all the Eastern and Central Europe countries.
- To improve the quality of public service.
- To take action for the return migration and talent attraction by offering motivating salaries.

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Application for “Investors‘ Forum" Awards

Investors‘ Forum“ uniting the biggest investors in Lithuania announced a call for applications and nominations for the  annual awards where the best companies, public institutions, education and media representatives are rewarded for their contributions to improving investment climate in Lithuania. Six nominations are going to be presented: “Investor of the year”, Responsible business 2016”, “Best decision for business climate improvement”, “Public servant of the year”, “Best business journalist”, and “Teacher of Economics of the  yearApplications and nominations for this year’s awards are accepted until the 10th of March. They can be submitted here.
Winners will be announced during the official ceremony, which will take place on the 21st of April in Vilnius.

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Income tax exception became applicable for service companies

Lithuania is to attract IT, business process outsourcing, financial and other services enterprises to free economic zones (FEZs). Due to decision of Parliament of the Republic of Lithuania capital investment of service companies will have to exceed EUR 100 000 and employ at least 20 full time employees to receive incentives.

Small service enterprises operating in free economic zones (FEZs) and fitting capital investment and employment requirements will be also allowed not to pay income tax for six years.Before the amendment to the law, companies in order to get FEZ tax incentives, have to invest at least EUR 1 million.

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Investors' Forum Addressed New Coalition's Leaders

On 7th November 2016 Investors' Forum addressed the leaders of newly formed government coalition regarding new Labour code. Investors' Forum called to allow Labour Code into force on 1st January, 2017. We argue that public statements by politicians to postopne the entry on the new law will have a negative impact on both business and the international image of Lithuania. 

5 Reasons do not Postpone Enforcement of the New Labor Code

 

Investors' Forum invites Seimas to let the new Labor Code into force on the 1st January 2017.  According to the leaders of the association, political statements about the possibility to postpone the enforcement of the new law will definitely have a negative impact on both businesses and the international image of Lithuania.

"On the one hand, many companies which operates or plan its operations in Lithuania, have devoted time and resources to prepare their activities under the new law. Therefore, inconsistent or inconsiderate behavior of the government may result in loss of business. On the other hand, such actions generally do not promote investors’ confidence in the state, because the strategic laws are changed and delayed even before they come into the force“, says Rolandas Valiunas, Chairman of the Investors’ Forum Board.

Investors’ Forum identified the most important reasons why the new Labor Code should come into the force at the beginning of the new year.

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Transparency initiative “Jonvabaliai.lt” promoting integrity among EU-funded projects in Lithuania received the EU “RegioStars 2016” award.

Transparency initiative “Jonvabaliai.lt” promoting integrity among EU-funded projects in Lithuania received the EU “RegioStars 2016” award. The initiative “Jonvabaliai.lt already helped implementing organizations to publicly report for 655.55  million EUR of EU funds.

The aim of  “Jonvabaliai.lt” is to encourage organizations which had received EU funding to publicly report on implemented projects and also to encourage the Lithuanian public to independently evaluate their work and transparency. This is a first such initiative to have been implemented in the region.

 

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