24 February 2018
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A magnet for
international companies

The Klaipėda Free Economic Zone (Klaipėda FEZ) was established in 1996 and opened officially in 2002. FEZ offers tax incentives to qualified investors that invest at least 1 million euros. In 2008, due to overcrowding the zone was expanded from 205 hectares (510 acres) to 412 hectares (1,020 acres) of developed land. As of March 2008, before expansion, FEZ had 22 investors: seven were operating, one just finished construction, six were under construction, and others in development stage. E-Mail:

The Klaipeda Free Economic Zone (FEZ) was the first and is still the only fully functioning free economic zone in Lithuania. The two companies that first started operations in the zone was the Japanese company Yazaki Wiring Technologies Lietuva, and the Danish company A.Espersen A/S, which opened their fish processing factory here in January 2003. FEZ was established to provide favourable conditions for the development of business activities by offering a prepared industrial site with a ready physical and juridical infrastructure, support services and tax incentives.


Category : Business, economy, investments / Front page

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More about money…  
Russian Rouble –
invented in Lithuania?
President Smetona on
the 10-litas note
1st and 2nd round of
Lithuanian litas
Vagnorkės – Talonas
20 years anniversary


Category : Business, economy, investments / Front page

- Posted by - (1) Comment

Numismatics in VilNews!

VilNews has a new contributor, Frank Passic from Michigan, USA, who will be sharing with us his vast knowledge about Lithuanian numismatics. The above photo shows Frank’s grandfather who came to USA from the Varniai area in Western Lithuania near Telšiai in 1911. He had just won a fishing contest and was very proud…

Dear readers, we are delighted and honoured that Mr. Frank Passic from Michigan, USA, has graciously offered to share with us his vast knowledge of Lithuanian numismatics. Frank has collected, researched, and written about Lithuanian numismatics for many years. His educational displays of Lithuanian money have won numerous awards at state and national coin shows in the United States. Of Lithuanian heritage, his maternal grandparents emigrated from Lithuania to America just prior to World War I. Frank may be contacted at:


Category : Business, economy, investments

How human psychology drives the economy

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A Review of: George A. Akerlof and Robert J. Shiller, Animal Spirits: How Human Psychology Drives the Economy and Why It Matters for Global Capitalism. Princeton: Princeton University Press, 2009. xiv+230 pages.

By Val Samonis

In over 30 years of my research, advising, and teaching globally, I have read and reviewed many very interesting and paradigm-changing books in economics and management. However, this book is one of a kind!  


Category : Business, economy, investments


Have your say. Send to:

    • Greeks won, Lithuanians lost!
      By Val Samonis

      Before they realized what is going on and who was robbing them, the Lithuanian people got clubbered by PM Kubilius’ ambitious austerity policy and the younger ones started emigrating in catastrophic numbers, seeing no future in the country whose GDP was reduced (from a low post-Soviet level) by some 20% by the combination of the old nomenklatura rent-seeking policies and the global Great Recession. Lithuania is hollowing out, unfortunately.

      Read more…

    • A far too bright picture of the present reality
      By Aage Myhre, Editor-in-Chief

      The above post from Val Samonis, where he compares “crisis-hit” Greece and a Lithuania supposed to be quickly recovering from the 2008 crisis, internationally praised for its austerity measures, calls for reflection.

      The difference is that while the people of Greece protest and angrily demonstrate in the streets of Athens, people here only become more and more bitter, emigrate, begets crime in other countries, etc. 

      Lithuania's elderly and disadvantaged people who have seen their minimum pensions drastically cut, and mothers seeing that the child benefits are completely removed as concept, they bow their necks and become even more active in growing potatoes on their garden spots outside the city instead of standing up against the government’s unfair measures against them... 

      This country's politicians claim they have been the smartest in ...

    • What is this country going to live on 20 years from now?

      Palle Gravesen Jensen.
      A Danish expat to Lithuania, owner of two manufacturing companies, Electronic House and Metalco Baltic. Member of the board of the Danish Chamber of Commerce (DCC) in Lithuania. His family was one of the three families founding the Vilnius International School.

      There are a number of issues to discuss with regards to Lithuania of today, the country I made my own 16 years ago, moving from my homeland Denmark.

      One particular question, however, comes to my mind again and again: What is this country going to live on 20 years from now. It is a big question. My concern is there will not be much at all if nothing is done immediately.

    • New Chairman of the Bank of Lithuania

      Vitas Vasiliauskas

      Friday the Seimas of the Republic of Lithuania decided to appoint Vitas Vasiliauskas as the Chairman of the Board of the Bank of Lithuania. The decision comes into force as of 16 April 2011.
      The current Chairman of the Board of the Bank of Lithuania Reinoldijus Šarkinas congratulated Vitas Vasiliauskas on this occasion.
      "I wished the new Chairman of the Board of the Bank of Lithuania all the best", said Reinoldijus Šarkinas.
      The Chairman of the Board of the Bank of Lithuania is appointed for a term of five years by the Seimas of the Republic of Lithuania upon nomination by the President. The number of the terms of office is not limited.
      Reinoldijus Šarkinas has been holding the position of the Chairman of the Board of the Bank of Lithuania since 15 February 1996. After the end of his term of office, the Seimas has authorised Reinoldijus Šarkinas to continue working as the Chairman of the Board of the Bank of Lithuania until 15 April 2011.

    • Independence day commemoration
      In connection to this year’s Lithuanian Independence Day, it might be of your interest to know that in 1938 there was printed an unissued ten litu banknote commemorating the 20th anniversary of Lithuanian independence 1918-1938.

      President Smetona and the Declaration of Independence is on the note’s face, and the Council of Lithuania is on the back. Smetona is interred in a mausoleum in Ohio.

      Submitted by Frank Passic, Albion, Michigan.

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مبلمان اداری صندلی مدیریتی صندلی اداری میز اداری وبلاگدهی فروشگاه اینترنتی گن لاغری شکم بند لاغری تبلیغات کلیکی آموزش زبان انگلیسی پاراگلایدر ساخت وبلاگ بوی دهان بوی بد دهان