"In order to meet the needs of investors, we are planning to restore the territory of the Kaunas FEZ as envisaged in the initial stage of its establishment. This change will ensure both social and economic benefits, as the additional plots will create more than 16.8 thousand new jobs and attract EUR 9.59 billion in investments," said Aušrinė Armonaitė, Minister of the Economy and Innovation.
The Kaunas FEZ currently covers an area of 534 hectares. It is planned to expand the area to 1054 hectares. It is estimated that between 2025 and 2039, new investment projects will add €4.3 billion in taxes to the state budget.
"The Kaunas FEZ industrial zone has a well-developed infrastructure, with up to 53 foreign and Lithuanian investors operating there. By expanding the area, we will create favourable conditions for attracting new investments and creating new jobs," said Karolis Žemaitis, Deputy Minister of the Economy and Innovation.
The creation of jobs in FEZ Kaunas will generate EUR 104 million for the state budget from 2010 to 2022 inclusive, and EUR 33.4 million in personal income tax in 2022 alone. To date, EUR 19.7 million of state and municipal funds have been invested in the infrastructure of the Kaunas FEZ.
The proposal will be submitted to the Seimas for consideration. The adopted draft law will have a positive impact on the business environment and its development. The amendments will enable the restoration of the Kaunas FEZ area, improve the investment environment in the Kaunas region, increase the attraction of foreign and Lithuanian investments to the Kaunas FEZ area and create new jobs.
