American Businesses Investment in Lithuania Continues to Grow

Invest Lithuania, the country's foreign investment development agency, today announced that Lithuania saw continued growth in American businesses investment during the first quarter of 2015, with Google and NASDAQ announcing plans to expand or open offices in the country.

"With two more major American businesses deciding to open or expand operations in Lithuania this quarter, 2015 is set to be another successful year for foreign investment in our country,” said Mantas Katinas, General Manager at Invest Lithuania. “As our economy continues to grow and more companies establish themselves here, we fully expect this trend of expansion to continue."

In March, Google established its first office in Lithuania. The U.S. internet giant plans to locate sales and marketing teams in the country, which will work with large customers and partners across the Baltic.

American stock exchange giant NASDAQ also announced its intent earlier this year to create a technology and business support competence center in Vilnius. The center will provide high-level IT expertise and in-depth financial analysis, with about 50 planned hires during the first half of 2015.

Continued economic growth

Following a strong 2014, where the country's economy grew 2.9 percent overall, out-pacing most of Europe, Lithuania has demonstrated more signs of growth in the first quarter of 2015. International rating agency Fitch reaffirmed the country's “A-” rating, citing the country's decision to join the EU as “successful ” and noting Lithuania's economic growth as “above average”. Fitch also cited the country's GDP growth rate, which is expected to reach 3 percent and 3.5 percent for 2015 and 2016 respectively.

Poised for Continued Success

Powered by a highly educated talent pool that has a near 100 percent proficiency in English, and world-class infrastructure that includes Europe's fastest internet upload speeds, Lithuania has many of the elements needed to support large American companies. A central location in Europe, and highly attractive incentives, including zero percent tax rates for six years in special economic zones, and 50 percent profit tax deduction afterwards, also make the country an ideal location for American companies seeking to establish or grow their business operations in Europe.

For more information, or to learn about how your company can start the process of investing in Lithuania, please visit www.investlithuania.com or call or email at 370.5.262.7438 and info@investlithuania.com.

About Invest Lithuania

Invest Lithuania is the Ministry of the Economy’s foreign direct investment development agency. It aims to increase the competitiveness of the Lithuanian economy and the country's attractiveness to investors, and to raise Lithuania’s global profile. The agency serves as a first point of contact for foreign companies and guides international businesses through every step of the process of setting up operations in Lithuania.