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Lithuania - The Right Place for Your Business
1. Lithuania - Right Place for
Your Business.
Location: City of Panevezys
Osvaldas Ciuksys
Vilnius
16 November, 2017
2. Facts & figures
GDP growth
20152 : 1.8%
20162: 2.3%
20172: 2.9%
2018: 3.6% forecastâ
Population1
2.8 million
Labor Pool1 1.5 million
Unemployment1 6.6%
Source 1: Statistics Lithuania, 2016 and 2017
Source 2: Eurostat 2017
* World Bank
Export growth
20152 : 11.3%
20162: 2.7%
20172: 17.4% (1st half)
3. What gives Lithuania a competitive advantage?
Cheap & skillful labor force Business friendly environment
1 4
World-class infrastructure Quality of life at affordable costs
2 5
Great quality to cost ratio
3 6 Stability: EU, NATO, Eurozone
4. Skillfullaborforce
Students by study fields in higher
53% of population with
higher education1
2015-20164education institutions |
Social sciences, Business and Law 41%
Engineering, Manufacturing and
Constructionproficiency in English
among professionals2
18%
Health and Welfare 13%
Humanities and Arts
speak at least two
foreign languages3
Science, Mathematics and Computing %
Education 5%
Other programmes %
Source 1: Eurostat, 2015 (age group 25-34)
Source 2: Invest Lithuaniaâs estimation based on Population Census (2011)
Source 3: Europeans and their languages, 2012
Source 4: Ministry of Education and Science, 2015-2016
50%
84%
9%
7
7
1st in EU
5. Lower labor costs
Country
10% increase:
year of
catch-up
6% increase:
year of
catch-up
Sweden 2033 2042
Eurozone 2031 2040
EU 2029 2038
Estonia 2020 2024
When labor costs in Lithuania will reach EU countries level?
2 scenarios: labor costs in Lithuania increasing 10% or 6% annually
Source: Ministry of Economy, Lithuania
6. Cost & quality combined
Ranked alongside Ireland, Germany, Switzerland
its business environment, Lithuania can also
guarantee a fantastic cost to quality ratio.
for
Average gross monthly salary (Eur), 20161
5 000 4 658
3 6424 000
3 000
2 000
1 146
929 7711 000
0
Source 1: National statistics department, Edition 2017
7. Digital infrastructure: fast, reliable and affordable
EU and global leader in connectivity for fixed
broadband price3and communication technology
2,73%
globally in fulfilling business
needs for ICT1
2,19%
1,85%
1,57%
1,25% 1,12% 1,06%
0,87%
0,71%
In Europe for mobile
4G coverage2
% of disposable income | Advertised download speed above 12 and
up to 30 Mbps | 2015
Source 1: IMD World Competitiveness Yearbook, 2017
Source 2: OpenSignal, 2016
Source 3: European Commission Digital Agenda Scoreboard, 2015
1st
1st
1st in EU
8. Cost of premises
One of the lowest office rental prices in the region
Source: BNP Paribas Real Estate, 2016
9. Logistics: fast connection infrastructure
3
1st in CEE for quality of roads1â
â Rail cargo services direct to Russia, Belarus, Latvai
Poland, Germany, Ukraine and Asia (incl. China)
â 3 InternationalAirports, access to major European
cities within 2-3 hours flight
â
â
KlaipÄda State ice-free Seaport
14.5 m deep port, handling up to 65 million tons of
cargo annually, the largest port in the Baltic
States2
Source 1: World Economic Forum, Global Competitiveness Report, 2017-2018
Source 2: www.portofklaipeda.lt
Source 3: Girteka Logistics, 2014. Estimates based on two-driver shared shift model
Sea
Air
Road & Rail
10. Business friendly Environment
out of 137
countries
evaluated
out of 180
countries
evaluated
out of 190
countries
evaluated
Ease of Doing
Business1
Global Competitiveness
Index2
Index of Economic
Freedom3
out of 180
countries
evaluated
out of 176
countries
evaluated
out of 189
countries
evaluated
Environmental
Performance Index4
Doing Business Index by
World Bank
Paying Taxes
Ranking6
Source 1: World Bank, 2016
Source 2: World Economic Forum, 2017
Source 3: Heritage Foundation, 2017
Source 4: Yale University, 2016
Source 5: Transparency International, 2017
Source 6: PWC, 2016
271623
164121
11. Business friendly Environment
corporate profit tax
VAT
â
â
dividends
personal income tax
social security tax paid by employee
social security tax paid by employer
* Conditions apply
30.98%
9%
15%
0-15%
21%
0-15%
12. 6 Free Economic Zones
0 % corporate tax for
the first 6 years
50% discount on corporate
tax over the next 10 years
0% tax on dividends
0% tax on real estate
13. Perfect place to live
â Vilnius is ranked by the New York Times
alongside Copenhagen, Barcelona and Capetown
as a hip and well managed place to live1
98% of Vilnius inhabitants are satisfied with living
here (highest percentage among EU capitals)2
â
Keeping you
connected with
the fastest
public Wi-Fi
globally4â According to the Mercer Cost of Living Index
2016, Vilnius is one of the four least expensive
EU capitals to live in for expatriates3
Source 1: The New York Times, 2011
Source 2: European Commission, 2016
Source 3: Mercer's 2016 Cost of Living Ranking
Source 4: Rotten Wifi tests, 2016
Cost of living
Lifestyle
14. Cost of living in EUR: LTU vs SWE and DEU
Lithuania Sweden % Germany %
Meal for 2 People, Mid-range
Restaurant, Three-course
30 62 +106.7 45 +50
Local beer (0.5 liter draught) 2.5 6.2 +148 3.5 +40
Pack of Cigarettes (Marlboro) 3.5 6.12 +74.9 6.0 +71.4
Cappuccino (regular) 2.03 3.53 +73.9 2.65 +30.5
Gasoline (1 liter) 1.06 1.41 +33 1.32 +24.5
Apartment rent (3bedrms) in
City Centre
690 1160 +68.1 1280 +85.5
Average Monthly Net Salary
(After Tax)
655 2105 +221.4 2196 +235.4
Source: www.numbeo.com
15. Location of Panevezys
MOSCOW
930 km
RIGA 153 km / TALLINN 460km LATVIA
DAUGAVPILS240km
150 km
80km
Ć IAULIAI
PANEVÄĆœYSKLAIPÄDA
Ă
115 km
135km
KALININGRAD
REGION
KAUNAS
VILNIUS
BELARUS
KALININGRAD
MINSK
323 km
POLAND
WARSAW 490 km
FRANKFURT 1580 km
E67
E67
E67
STOCKHOLM 680 km
MALMö 750 km
BALTIC SEA
Vilnius 135 km Riga 153 km
Kaunas 115 km
Klaipeda 135 km Riga 150 km
Tallinn 460 km Stockholm 680 km
16. Panevezys is place for modern manufacturing solutions
PanevÄĆŸys has the right
people if you are looking
for efficiency and getting
things done. The region
is highly supportive and
competent boosting
manufacturing business
turnovers, especially in
the mechanical
engineering, plastics and
automotive industries.
The people here are not
just highly qualified.
They make things
happen.
Raimundas Petrauskas
Managing Director, Schmitz
Cargobull Baltic
17. Panevezys is the right place for doing business
Cooperation platform between foreign businessmen
and local stakeholders
Operator of Panevezysâ industrial park
Heating and drying products Clothing from wool
Furniture manufacture
Wiring harness systems and
electromechanical modules