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Latest insights and updates

September, 2014

With 7 new projects, Lithuania welcomes creative Russian IT professionals

Flazm, a Russian game developer, has announced plans to relocate its studio to Lithuania. The company, which has so far been developing minor flash games, will work on improving its first major project in Vilnius – the strategy game Train Valley for PCs, that is about to appear in the virtual computer game store Steam.

Facts & Rankings

United Nations Human Development Index: Lithuania is one of the 49 most developed nations globally

Lithuania has been placed 35th out of 187 countries in the United Nations (UN) Human Development Report 2014, which measures a Human Development Index. This is the best result in the history of Lithuania. Lithuania has risen 6 places since 2013.

Investment Climate

LESTO aims at improved reliability in order to increase Lithuania’s Doing Business rating

Electricity distribution network operator AB LESTO plans to improve the reliability of its power distribution network by 10% over the next seven years. The company, which is controlled by energy company group Lietuvos Energija, has over 1.6 million customers in Lithuania.

TrackDuck founder: Why I have invited Pavel Durov to Lithuania

Edmundas Balčikonis, the founder of startup company TrackDuck has become famous for inviting Russian internet entrepreneur Pavel Durov to Lithuania. In his column for Zukerman-Pozvonit, Balčikonis explains why startups from Russia are increasingly interested in moving to Lithuania.

Arvydas Arnašius appointed manager of public institution Invest Lithuania

Economy Minister Evaldas Gustas signed a decree appointing Arvydas Arnašius as Director-General of public institution Invest Lithuania, with effect from 13 August. Mr Arnašius has been the acting Director-General of Invest Lithuania since March.

Lithuania in Foreign Media

Region is ready for revenge

Cut off by authorities and treated like by a step-child by Swedish banks. Now the Baltic states are rising.

Source: Dagens industri, Sweden

British investment into Lithuania doubles ahead of entry to Eurozone

British foreign direct investment (FDI) into Lithuania has nearly doubled in three years ahead of the country's entry into the eurozone.

Source: fresh business thinking.com, UK

From Lithuanian Media

Norwegian ambassador: After visiting Lithuania, I waited 20 years to be sent to Vilnius

The Lithuania Tribune spoke to Norwegian Ambassador to Lithuania Leif A. Ulland. The ambassador is just about to complete his four-year term in Vilnius. The Lithuania Tribune asked about ambassador’s impressions of Lithuania, cooperation between the two countries and its future.

Vilnius – the optimal choice for Ahlstrom

In September, the financial services and customer service centre of Finnish company Ahlstrom will start its operations in Vilnius, providing services for the European, Middle Eastern and African markets. Sakari Ahdekivi, Finance Director of the company is certain that Vilnius is the optimal choice for this kind of centre, primarily due to its wealth of qualified specialists.

Devbridge: American Work Culture Takes Root in Kaunas

Devbridge Group, a US company operating for six years, has had a second office in Kaunas since 2011, and is opening a third office in Vilnius this year. The company’s management team says that a growing business provides opportunities to create more benefits for clients and employees.

Meet us at Events

Shared Services Exchange

The Shared Services & Outsourcing Exchange is the premier event in Europe for senior level shared services and sourcing practitioners who are evolving their service delivery strategies, capabilities and operations.

Laikas: Rugsėjo 16-17 d., 2014
Vieta: Hotels van Oranje, Noordwijk aan Zee, Nyderlandai

10th Annual European Manufacturing Strategies Summit

In October 2014, the European Manufacturing Strategies Summit will celebrate its 10th anniversary, providing the perfect opportunity to assess the state of the manufacturing sector as European nations emerge from economic downturn, and to provide expert visionary forecasts for the next 10 years.

Where: Dusseldorf, Germany
When: 27-29 October, 2014

Nordic Shared Services and Outsourcing Forum

The most comprehensive Nordic-specific SSO event is back for another year!

Where: Stokholm, Sweden
When: 18-19 November, 2014

Bernardas Velikonis
Investment Advisor

E: bernardas.velikonis@investlithuania.com
T: +370 5 262 7438

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As a part of the Ministry of Economy of the Republic of Lithuania, Invest Lithuania provides free advice to global companies interested in doing business in Lithuania and introductions to experts on the ground. So if your company is considering a business set-up or looking to access one of Europe's most skilled talent pools, make us your first stop.