Forbes business review – Lithuania
Forbes uses a set of sophisticated official indexes (such as property rights, innovation, taxes, technology and so on) when compiling the list for the best countries for business. This year, out of 139 countries, Lithuania got even higher rating (15 and last year 17) because it is making continual progress in most of the business related fields. The progress is especially visible in such fields as personal, marketing, monetary freedom. If we were to distinguish the strongest points of business environment in Lithuania it would have to be these:
- Talent – almost every young professional in Lithuania speaks 2 languages or more and most of Lithuanians have a secondary education. The technological readiness of Lithuania and industry-university collaborations are among the highest in the CEE.
- Quality and costs – Lithuania has the 4th lowest profit taxes in the EU and some of the lowest office space rental costs in the CEE.
- Infrastructure – Lithuania has the fastest internet speed in the EU and the quality of roads are best in the CEE countries.
- Business environment –Lithuania has a highly developed institutional support for business which results in our country being the second most favorable country for investments and it only takes 3 days to start a new business.
- Lifestyle – the capital of Lithuania, Vilnius is ranked among the top 5 least expensive EU cities for entrepreneurs to live in, nonetheless, from a quality perspective it is cited along with such cities as Capetown, Barcelona or even Copenhagen.
With all that being stated Lithuania focuses on such areas as shared services, manufacturing, technology, life sciences and keeps on improving.
By: Darius Jonas Semaška, Ambassador of Lithuania in the Netherlands
Useful link: http://www.investlithuania.com/
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