BUSINESS

Lithuania, The Place for Your Business

When it comes to conducting business easily, Lithuania ranks in the top twenty in the world.

Entering the Lithuanian business scene requires preparation, not only when it comes to offers but

also as far as language is concerned—at the very least, English is required. Pragmatism and a certain

sense of reserve are some of Lithuania’s distinctive features.

The country offers opportunities for the

expansion and modernization of airports—

around 700m euros are expected to be

invested in this sector by 2028. The tender

will mainly be focused on the supplying and

assembly of airport devices and technologies.

The government will be discussing

the construction of a new international

airport in 2022.

An increase in sustainable energy efficiency

and the sector’s overall competitiveness is also

in the works. An investment of approximately

311m euros is projected to be completed

over the next couple years as part of a plan

for economic rejuvenation and an increase

in accessibility to sustainable electricity. The

decommissioning of the Ignalina nuclear

power plant is also a significant opportunity.

Lithuanian railways are also expecting an

investment of 7bn euros by 2030; this will be

aimed at innovation, modern technologies

and recuperation of the vehicle fleet.

Electrification and modernising signalling and

safety equipment will also continue. A large

investment will go into Rail Baltica, including

high-speed rail infrastructure.

Lithuania allocates 2% of the country’s

GDP towards its Ministry of Defence and is

projecting an increase to 2.5% by 2030. The

army continually invests across many sectors.

Cities are to develop their transport

infrastructure in order to minimise emissions

and environmental stress. By 2026,

ecological buses should make up 80% of

purchases. All public transport in Lithuania

is required to make use of renewable

resources by 2027.

information regarding applications to

tenders issued either by state authorities

or local governments. Furthermore,

we offer our embassy’s premises for

presentations or events that support

participation in trade fairs. Some of

the most successful events held at the

embassy in 2021 include the Business

Mission with the Minister of Foreign

Affairs and president of the Lithuanin

Senate and a presentation held with the

leading producer of medical supplies in

the Czech Republic.

The embassy can answer any of your

questions regarding industry opportunities.

It is continuously working on providing

Estonia to Put a Billion Euros

Into Modernisation

Over the Next Five Years

Petr Preclík

Ekonomický diplomat

Velvyslanectví ČR v Estonsku

Economic Diplomat

of the Czech Embassy in Estonia

The main themes for Estonia’s economy for the upcoming couple of years will be the

modernisation of industry, the construction of a transport infrastructure, digitalisation and further

development in the service sector. 1,700m2 of wind farms will be constructed in the Gulf of Riga.

The main city is going to house a super-hospital worth approximately 500m euros.

All of these projects stem from the Estonian

plan for recovery and resilience, which will

provide the country with almost a billion

euros by 2026.

From the perspective of the MoravianSilesian Region, Estonia’s industrial

region of Ida-Virumaa is among the most

appealing in this regard. Much of Estonia’s

energetics, engineering and chemical

industries are concentrated in this area,

including two very important sectors—oil

shale processing and the production of

precious metals and their oxides. These

processes are, however, not eco-friendly

and are definitely going to be restructured.

The planned expenses are breathtaking: an

oil shale processing factory worth 320m

euros; a metallurgic plant for precious

metal processing worth 250m euros;

a facility for wood waste processing worth

800m euros; a fully robotic filtering plant

for clean drinking water worth 200m euros,

and I could go on.

Estonia is also known for its focus on

digitalisation and the development of online

solutions, which presents an opportunity

for Czech companies supplying hardware,

software and cyber security solutions.

Cooperation between Czech and Estonian

startups offers space for the development

of cutting edge ICT solutions, applications

for increased efficiency of work and freetime activities or, for example, projects in

the field of joined economics.

Other opportunities present themselves

in food, transport, engineering and

pharmaceutical

industries.

Details

regarding this cooperation, for any

interested businesses, can be found in

the Industry Opportunities Map, which is

annually updated by the Czech Ministry of

Foreign Affairs.

POSITIV 1/2022 ǀ 21