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Panevėžys Free Economic Zone

Panevėžys Free Economic Zone. Main Indicators. Residents: Urban areas – 107,613 people, rural areas – 40,547 people ; The fifth largest city in Lithuania; The territory – 50 sq.km; The seventh largest city in the Baltic states; The centre of Panevezys county;

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Panevėžys Free Economic Zone

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  1. Panevėžys FreeEconomic Zone

  2. Main Indicators • Residents: Urban areas – 107,613 people, rural areas – 40,547 people; • The fifth largest city in Lithuania; • The territory – 50 sq.km; • The seventh largest city in the Baltic states; • The centre of Panevezys county; • The number of functioning companies – over 3200; • The only in Lithuania Norwegian Industrial Park; • Established Foreign Investors Business Association.

  3. Location

  4. Distances • Highway Via Baltica between Warsaw and Tallinn; • Midway between Vilnius and Riga: 150 km to each capital city; • Railway line Moscow-Kaliningrad; • Klaipėda port: 240 km; • Šiauliai airport: 80 k.

  5. Educational institutions • Panevėžys college (management, logistics management, law, accounting, engineering, IT); • Panevėžys institute, a regional branch of the Kaunas Technological University (management, economics, robotics, transport engineering, mechanics and electronics).

  6. Research and technology park It is aimed at the creation of infrastructure for applied industrial research and technology and promotion of technological development in the Panevėžys area. Activities: • Consultations on research and innovations; • Information of EU research programmes and funding; • Rent of premises and conference equipment.

  7. FIBA • Foreign Investors’ Business Association of Panevėžys (FIBA) aims at the creation of favourable business environment in Panevėžys and its region. • It promotes open cooperation between foreign investors, all types of public institutions and Panevėžys municipal authorities • It supports integration of foreign businesses into the local community

  8. Free economic zone • 5 km away from Panevėžys city centre, surrounded by J. Janonis Street, Via Baltica and a railway line. • The size of the Panevėžys free economic zone is 47 hectares.

  9. Stages of development • Projecting, acquisition of land (2005-2006) • Technical documentation (2007-2008) • Development of infrastructure (2009-2012) • The status of a free economic zone (2012)

  10. Site area

  11. Areas

  12. Infrastructure • Asphalt roads; • Water supply and sewage facilities; • Electricity, inner roads and lighting; • Natural gas pipeline.

  13. Taxes in Free Economic Zone • Corporate profit tax - no tax during the first 6 years; • Only 50% of corporate tax over the next 10 years; • Dividends - no tax on dividends for foreign investors; • Real estate - no real estate tax.

  14. Investment requirements The Ministry of Economics of Lithuania has issued an international invitation to tender for management of the Panevėžys free economonic zone. The procurement procedure is expected to be complete by the end of 2012 which will allow for the Panevėžys free economonic zone to start its activity.

  15. Contacts Asta Puodžiūnienė Economy and Property Management Department Laisvės a. 20, LT-35200 Panevėžys Lithuania Tel: + 370 45 501 328 Fax: +370 45 501 352 E-mail: asta.puodziuniene@panevezys.lt www.panlez.lt

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