The first non-EU entrepreneurs have completed the application process and are about to establish their businesses in Lithuania, within the government’s Startup Visa programme. The Startup Visa legislation, which was approved in 2016 and is now fully operational, makes it easier for non-EU nationals to get a temporary residence permit, provided they operate in an innovative field and have enough financial resources to achieve their goals for one year. Continue reading Lithuania Gives Innovation a StartUp
Instead of using the Lithuanian ports, Belarus should use Russia’s Baltic ports in the Gulf of Finland, Saint Petersburg and Ust Luga, to transport its oil products made from Russian crude oil, said Russian president, Vladimir Putin during his recent visit to Russia’s Baltic Sea exclave of Kaliningrad, sandwiched between Poland and Lithuania. Continue reading Putin Urges Belarus to End Oil Transit Through Lithuania
Private equity and venture capital investments into companies in Central and Eastern Europe reached a total of €1.6 billion in 2016 — the highest amount since 2009, according to recent Invest Europe’s data. Continue reading PE and VC Investment In CEE Is At an Eight-Year High
In the first half of 2017, Riga-based airBaltic carried 1.56 million passengers to destinations spanning Europe, Scandinavia, Russia, CIS and the Middle East. Continue reading Air Passenger Volumes Reach Record High in the Baltics
A host of flash estimate GDP data released by Eurostat and national statistics offices on August 16th showed that the economies of EU-CEE had another highly impressive quarter of growth in April-June. In seasonally-adjusted terms, growth strengthened in relation to Q1 from already elevated levels in the Czech Republic, Latvia, Poland and Bulgaria. In Romania and Slovakia momentum was unchanged relative to the previous three months, while in Lithuania and Hungary it slowed slightly. Data for the other EU-CEE economies—Slovenia, Estonia and Croatia—are not yet available. Continue reading EU-CEE Is Still Growing at a Healthy Rate
The inflow of FDI had long been considered the main driver of economic growth in the countries of Central and South-eastern Europe. During the transition to a market economy, FDI provided much-needed capital and knowledge, as well as access to technology and markets. Continue reading Ex-Transition Economies’ FDI Recovery
Brexit negotiations started in Brussels on June 19, almost exactly a year after the UK’s vote to leave the EU. Continue reading Impact of Brexit on EU-CEE Not Overstated
In Central Europe and the Baltics growth will pick up on the back of the investment recovery which is linked to a better absorption of EU funds, Artur Radziwiłł, Director for Country Strategy and Policy, European Bank for Reconstruction and Development (EBRD), tells Emerging Europe.
For the economies of emerging Europe, the international economic environment appears generally positive. In 2017-2018, GDP growth in the Euro area is expected to hover at around 1.7 per cent. The international financial markets have stabilised and the current economic mood is improving. Because of the global recovery, the US Fed is expected to increase interest rates further in 2017, while oil prices are likely to rise. In the EU, disbursements from the payments’ cycle of the European Structural and Investment Funds are only just beginning, indicating higher co-financed investments in the Central and Eastern European EU member states (EU-CEE) from this year onwards.
Lithuania’s economy has been both consistent and resilient in recent years, effectively recovering from the 2008 financial crisis that affected many EU member states so heavily. Since 2011, the country has achieved an impressive growth rate of four per cent per year and it joined the Eurozone in 2015. In order to ensure further progress, the government plans to encourage increased public and private funding in business projects over the next three years. The goal is to make Lithuania a hub for innovative technology and finance in order to help new businesses and talented entrepreneurs grow.
Not only is the city of Vilnius growing its population, unlike the rest of Lithuania, but it is also becoming increasingly younger, says Remigijus Šimašius, mayor of Vilnius. He talked to Emerging Europe about the city’s most recent infrastructural projects, its key sectors and the challenges it is facing. Continue reading ‘Cosy’ Vilnius Offers a Vibrant Life/Work Mix for its Growing Population
The Lithuanian capital is a city of young talents, says Remigijus Šimašius, Mayor of Vilnius, in an interview with Emerging Europe.