Investors’ Forum News

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.

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. 

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.

The value of the Investors’ Confidence Index for Lithuania has been growing since the end of last year and reached 1,237 out of 2 possible in this quarter. The value of the index is not only growing, but also reached its highest value since the second quarter of 2017.

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.

Statement of the Chairman of the Board
Rolandas Valiūnas

Dear colleagues,

I am certain that life is deemed meaningful, valuable, and exciting as long as we are able to experience sincere amazement. And in the recent year I had lots of opportunities to experience it. Not only because 2020 has become a year of unprecedented trials for all of us. But first and foremost because of how we were able to meet, adapt, and overcome these challenges.