Lithuania
Expanding a Business in Lithuania
Recent forum posts
-
starting a business
Hi There!I was looking to bring in a skincare range from America to sell in UK, what legal procedures do I need to abide by? ie. licensinglaws, testing etc
Total Posts: 10 Last post by saifkhaleel27
-
Tips for outlining your essay
To outline your essay effectively, firstly brainstorm what you are going to write in your work. Then start by writing an introduction. Here state the essay topic, main purpose, problem, and how you will solve it. Don’t forget to give background information. For outlining you can even hire the essay writing services New Zealand. Next, break your essay into different body paragraphs depending on the
Total Posts: 5 Last post by yingashley13
Entering the Market Lithuania
Lithuania has the largest and most diversified economy of the three Baltic states. This country mostly specializes in electronics, chemicals, machine tools, metal processing, construction materials and food processing. Light manufacturing includes the production of textiles, clothing, furniture and household goods although the textile sector is starting to suffer from competition by lower cost bases.
Services are the fastest-growing segment of the Lithuanian economy. Trading and retail are also growing fast, although there is increasing competition in this market. Transport and transit services are developing, with a good road system improved with EU investment. Financial services are expanding rapidly, and the use of banking services has grown exponentially in last decade, due to Swedish banks entering the market. In the financial, retail segment, mortgage lending is the most dynamic area, in turn fuelling robust growth in the construction and real estate markets.
The Lithuanian economy is fast growing and attractive market for foreign exporters. Lithuanian exports tend to have a high import content. In recent years, Lithuania has also been an attractive destination for international exports of retail goods, due to a sustained consumption boom.
Challenges foreign companies face
Transition economies have all attempted to abolish barriers facing foreign firms to expand. A case study summarises some difficulties foreign investment face entering Lithuania. Business can face problems as buying land and real estate. There could be interference obtaining permits, licenses, in some cases you can meet negative attitudes of officials in Lithuania. But all in all, it is easy to enter the market and grow your business here.
If you wane enter the Lithuania market here are some institutions that might help you: the Lithuanian Development Agency is responsible for investment and export promotion. The leading business organizations are the Confederation of Lithuanian Industrialists, the Lithuanian Business Employers' Confederation, the Association of Lithuanian Chambers of Commerce, Industry and Crafts. The central EU countries also have Chambers of Commerce in Lithuania.
Click here to Ask an Expert about Expanding a Business in Lithuania