Investments, Legislation, Lithuania, Markets and Companies, USA

Photo: lrv.lt

The PM had previously met with the guests in the United States of America. The meeting in the USA was held to discuss bilateral economic relations as well as the strategic partnership between the USA and Lithuania. This time the discussions focused on opportunities for US investors in Lithuania.

"Today Lithuania is an open, growing and reliable State. It is a country of bright minds, offering a favourable climate for investors', he said, highlighting the promotion of foreign investments as one of the priority goals. "Lithuania has advanced in the Global Competitiveness Index for countries, improving in nine of the twelve criteria and achieving the greatest progress in the macroeconomic sector. We have improved the business environment by adopting investment-friendly decisions. A new version of the Law on Territorial Planning has introduced essential changes in the regulation of territorial planning and reduced the length of the procedure. Amendments to the Law on Free Economic Zones have been adopted in an attempt to ensure economically substantiated development of FEZs and to enhance the application of tax privileges for FEZ enterprises. The Labour Code has been amended to reduce the administrative burden on employers. Employment contract registers have been abolished," he noted.

The American-Lithuanian Business Council welcomes the adopted amendments of the law concerning the legal status of aliens, which have introduced a possibility for highly qualified specialists and investors to reside and work in Lithuania on a temporary basis, and sees those amendments as crucial for the efforts to attract investor attention.

President of the American-Lithuanian Business Council Eric Stewart has emphasised that Lithuania is not only interested in attracting new investors but also in creating a favourable climate for companies already operating in our country. According to Stewart, this is highly appreciated.

The prime minister is convinced that Lithuania's plans to establish a Consulate-General in Los Angeles will also have a positive impact on the economic cooperation between the countries.

His view is endorsed by Danguole Navickiene, president of the Lithuanian World Community, who has sent a letter to the PM: "Additionally, on behalf of the Lithuanian World Community as well as its local Boards of Los Angeles and Western District, let me express our gratitude for your declared intensions to establish a Lithuanian Consulate-General in Los Angeles. In can speak boldly for everyone that we will be happy to offer our assistance in the process of establishment and are looking forward to substantial and pleasant cooperation in the future. I have noticed that all Lithuanian communities, where there is a Lithuanian Embassy or a General Consulate, are more active, including their expression of nationality [&]. It will provide easier access to consular services. We hope that the establishment of a General Consulate in California will accelerate economic cooperation with the United States. Californian economy ranks sixth in the world, which provides numerous possibilities".