Newly released data shows that German firms are the largest foreign direct investors in Lithuania's manufacturing industry.
© U. Karaliūnaitės nuotr.

The figures published by the Lithuanian Government's foreign investment and business development agency Invest Lithuania show that approximately EUR 400 million out of total investments from Germany (EUR 1.1 billion) go into manufacturing operations. The main focus of these investments are the oil, chemical, pharmaceutical and automobile sectors.

According to Invest Lithuania, Lithuania is proving increasingly attractive to German companies primarily due to its highly competitive quality to cost ratios, with personnel costs approximately one-fourth of the EU average. A well-developed business environment, offering corporate and income taxes of 15 percent, is also a major factor in attracting firms from Germany.

There are currently 325 companies located in Lithuania with German parent companies.

It is forbidden to copy the text of this publication without a written permission from ELTA.

Court: Lithuanian companies don’t have to pay million-worth fine to Serbia

Arvi , a Lithuanian fertilizer, fodder, sugar and turkey meat production group owned by businessman...

Transport Minister: new airport could be built between Vilnius and Kaunas (1)

As the numbers of air passengers are growing in Lithuania, a new airport could be built between the...

MPs call on Adidas to stop sale of Soviet-themed clothing

Several lawmakers from the opposition conservative Homeland Union – Lithuanian Christian Democrats...

Lithuania one of the first countries in EU to establish the definition of a start-up by law

The Parliament of the Republic of Lithuania (Seimas) approved the definition of a start-up provided...

Transport Minister: Lithuania ready to test driverless cars

Lithuania is putting a lot of effort and is ready to test driverless cars , the country's Transport...