Petrulis re-elected president of the Association of Free Economic Zones: Lithuania has great potential

Petrulis re-elected president of the Association of Free Economic Zones: Lithuania has great potential
Petrulis re-elected president of the Association of Free Economic Zones: Lithuania has great potential
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According to the press release, if defense industry companies have the opportunity to be established in a simplified manner, both the investor and the local industry and economy would benefit – new jobs would be created, progressive technologies would be introduced into production processes, etc.

“I will strive to make Lithuania’s free economic zones more attractive not only for international defense industry companies, but also for priority, green course-compliant production, logistics and high added value companies in this geopolitically difficult period.

I believe that Lithuania has great potential, being exceptional in talent and the ability to quickly apply the most innovative solutions in business processes and ensure the highest quality of work”, says S. Petrulis, who is also the general director and chairman of the board of the Marijampole Free Economic Zone (MLEZ) management company. .

As it is written in the report, it is convenient for Lithuanian and foreign investors to create businesses in the territories of the SEZ, because there are offered production buildings intended for a quick start. LEZ management companies create particularly attractive conditions for investors by adapting production, storage or logistics buildings to the needs of the emerging company.

Companies operating in SEZ territories do not pay profit tax for 10 years, and for the next 6.5 years they pay only 7.5 percent. Companies also do not pay real estate and dividend taxes. With the status of a large investor (for investments from EUR 20 million), the company can take advantage of all the advantages of the “green corridor” – to obtain permits for the construction of factories or factories faster. A large investor must be provided with the services of land plot formation and redevelopment, project preparation or coordination in an accelerated manner. State institutions must provide them with consultations or other assistance in order of priority within 3 days.

The Lithuanian Free Economic Zones Association consists of Akmene, Kaunas, Klaipėda, Kėdainiai, Marijampolė, Panevėžys, Šiauliai SEZs. The association aims to create the best conditions for business development and investments in Lithuania. The president is elected annually by the board of the association, which consists of the managers of the management companies of the Akmene, Kaunas, Klaipėda, Kėdainiai, Marijampolė, Panevėžys and Šiauliai SEZ management companies.

LAFEZ closely cooperates with state institutions, ministries and foreign partners in analyzing the investment environment and in order to make the most important strategic decisions. Currently, the area of ​​Lithuanian free economic zones reaches 1400 ha, of which the greater part is already leased to Lithuanian and foreign investors. In total, about 1.7 billion was invested in the free zones. EUR, almost 10,000 new jobs were created.

The article is in Lithuanian

Lithuania

Tags: Petrulis reelected president Association Free Economic Zones Lithuania great potential

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