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24-04-2019

Innovative projects made Klaipeda FEZ more attractive for business

With Lithuania quickly approaching the Western level of pay, the Klaipeda Free Economic Zone (FEZ) team created a unique competitive advantage for the city: the ability to start manufacturing operations faster than anywhere else in the region. FlexStart, the flexible factory built in Klaipeda FEZ allows investors to save months of valuable time and earned international recognition already. Its all available space is expected to be rented out soon and so the FEZ is planning a new building project.

Lithuania has been earning its name as a country where starting and developing a business is easy for a while now. In the World Bank’ Doing Business rankings Lithuania earned itself a high 14th spot out of 190 countries and is ahead of notable economies like Finland and Australia, while also maintaining a higher ranking than its regional neighbours. Good geographic location, membership in Euro-Atlantic structures, a qualified workforce, modern infrastructure, and broad incentives for investors have earned Lithuania more than €15 billion in foreign direct investments over the last 20 years; however, the country has to compete with neighbours that are just as ambitious or countries and entire regions globally. With a small domestic market and growing wages, Lithuania has to search for new ways to attract investment, especially when the state of the previously flourishing world economy is starting to become undefined.

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