transition of industrial zones to free economic zones in ... · transition of industrial zones to...
TRANSCRIPT
Transition of industrial zones to free
economic zones in Lithuania
Jurgita Staneikaitė
Head of Investment policy division
Types of industrial zones
Free economic zones (FEZ)
Industrial parks (IP)
Municipal
Private
Public logistic centers (PLC)
Key Milestones
1990 1995 2000 2005 2010 2011 2012
Establishment of Kaunas and Klaipeda FEZs
Lithuania’s membership in EU
Program for 5 new FEZs
Lithuania regained
independence
Law on FEZ
funda-mentals
Selection of Kaunas and
Klaipeda FEZ operators
International tenders
for 5 FEZ operators
Creation of 9 industrial parks
Program for 4 PLCs
Problems of Industrial parks
There are no investors in
regions
There are no new jobs
Work of IP is not efficiant
There are no efploitation of intras- tructure
There are no competition
Advantages of FEZ
• 50 % lower state lease fee
• Full right to sublease the land at market prices to FEZ investors
• Full right to operate the FEZ for 49 years
Benefits for the managing company
• 0% corporate tax for the firs 6 years
• 50% discounton corporate tax over the next 10 years
• 0% tax on dividends
• 0% taxon real estate
• Available EU financial incentives
Benefits for the FEZ investors
The goals for transition from IP to
FEZ:
Facilitate FDI promotion, technology development
and job creation and reduce regional
disparities
Enhance the attractiveness of the
industrial zones
Effectively use the infrastructure
that has been implemented from
EU structural funds
Increase the efficiency of
management in industrial parks
Procedures for transition of IP to
FEZ
Law on the fundamentals of free economic zones
Separate laws on the establishment of specific zones
Regulation of the Government of the Republic of Lithuania
International tenders
Requirements and application
procedures (I)
Eligible candidates‘ profile:
Individuals
Companies
Subsidiaries/ divisions
Selection criteria:
Quality of a business plan for FEZ management
Initial financial contribution no less then EUR 116,000
Experience in investment
promotion & business consulting
Requirements and application
procedure (II)
The successful bidder will have to:
Establish FEZ management company in Lithuania
Sign a framework agreement on the functioning of FEZ with the
Ministry of Economy of Republic of Lithuania
Requirements and application
procedure (III)
Main responsibilities of a FEZ manager
Creating a strategy for FEZ development
Implementing a sound business plan
Attracting investors
Marketing the FEZ
Subleasing land to companies
Success stories of new FEZ
Tender winners signed the framework agreements on the functioning of FEZ with the Ministry of Economy of
Republic of Lithuania.
Marijampolė free
economic zone
Panevėžys free
economic zone
Kėdainiai free
economic zone