History and Significant Events

In February 2010 the Lithuanian Development Agency was restructured into two public organizations - "Invest Lithuania" and "Enterprise Lithuania". On February 11, 2010, "Invest Lithuania“ officially started its activities on the basis of the restructured Lithuanian Development Agency.

In October 2009, through LDA’s effort, Finnfoam OY, the largest Scandinavian manufacturer of thermal insulation plates, invested in Lithuania. The investments should amount to EUR 29 million and 35 permanent jobs are planned to be created by 2012.

In October 2009, through the efforts of the Government of the Republic of Lithuania and LDA, the British company Barclays Technology Centre Limited (subsidiary company of Barclays Bank PLC (Barclays) entered the Lithuanian market with the establishment of the Barclays Technology Centre in Vilnius. Barclays has committed to invest at least EUR 5.8 million in the technology centre over a period of five years and to create at least 250 jobs for highly-qualified technology specialists by the end of 2011.

In June 2009, LDA along with Red Hot Locations organised the WORLD FORUM for Direct Investment 2009, attended by more than 150 leading specialists in the field of foreign investments, executives of international companies, investment promotion agencies in foreign cities and regions, members of chambers of commerce and associations of foreign countries, representatives of property development companies, and representatives of legal and consultative enterprises from different countries around the globe. The representatives of such global companies as Accenture, Hewlett-Packard, ComTrade, Intercell, BTG, Firstsource, Mirror Accounting, iSoftStone, Transcom Worldwide, S3 International, Programeter or Electronic Arts took part in the Forum. 

In March and May 2009, LDA initiated the project Lithuania – Attractive Business Partner, during which Lithuanian entrepreneurs met in Vilnius with representatives of more than 150 companies from ten European countries. Representatives of timber, furniture, metal and plastic processing, publishing and polygraph industries from Austria, Denmark, Estonia, Finland, Germany, the Netherlands, Latvia, Sweden, Great Britain and Lithuania participated in organized business contact fairs. 

In May 2009, the World Bank’s study on investment promotion agencies revealed that LDA ranked 12th among 181 agencies in terms of the quality of information and the speed of its provision; as far as the progress it had made over the last three years, it was among the top 3. 

In May 2009, upon LDA’s request, Ernst & Young, an international business consultation company, conducted a strategic research on the attraction of foreign direct investments and export promotion. Having assessed global trends and the experiences of foreign countries, the consultants submitted their recommendations on how Lithuania could attract foreign direct investments and stimulate the exports of goods and services more effectively. 

In September 2008, LDA started implementing the project Attractive Economic Image of Lithuania – a Guarantee of the Country’s Competitiveness, funded by the EU Structural Funds, during which Wally Olins, a world-class branding expert together with his team Saffron Brand Consultants developed Lithuania’s economic branding strategy for the period from 2009 to 2014 as well as a strategy implementation plan for the period from 2009 to 2011.

In 2008, LDA initiated and developed four advertising campaigns promoting Lithuania as an attractive country for business in the world’s influential and leading economic weekly, The Economist. This was the country’s first advertisement on such a large scale in the foreign media. An audience of 2 million readers was reached. 

In September 2008, the public establishment Lietuvos turizmo plėtros agentūra (Lithuanian Tourism Development Agency) and 8 Tourism Information Centres operating in Spain, Germany, the United Kingdom, Russia, Poland, Finland and Italy became part of LDA. Also, LDA was entrusted with the establishment of the Point of Single Contact for Services and Products, which will start operating in December 28, 2009. The Point of Single Contact will provide the information on requirements applicable to entrepreneurs concerning the procedures and formalities to be completed in order to access and to exercise service activities, information on the technical rules applicable to a specific type of product, consultations and assistance in completion of all needed procedures and formalities. 

In August 2008, LDA’s new structure, the new Articles of Association and the Council were approved. Mrs. Rūta Skyrienė, Executive Manager of the association Investors' Forum, was elected chairman of the new Council. 

In February 2008, a new LDA’s Analysis Division, which prepares overviews of the Lithuanian economy and foreign markets and provides information to investors, Lithuanian entrepreneurs and public authorities, upon their request, started operating. 

In 2007–2008, the project PRINCESS, aimed at developing business cooperation projects between enterprises operating in the environmental sector and funded by the European Commission and the EU Structural Funds, was implemented. Over 450 European companies, including 94 Lithuanian enterprises, participated in the project events. The value of the deals which were concluded by the Lithuanian enterprises amounted to EUR 6.9 million. 

From 26–27 April 2007, the project Lithuania – Attractive European Business Partner, funded by the European Commission and the EU Structural Funds, was implemented. Over 200 enterprises from Lithuania and abroad participated in the international business contact fair organised in Vilnius. The value of the business relationships established by Lithuanian enterprises, which later developed into business deals, amounted to around EUR 4 million.  

In 2007, the European Business Information Centre (EIC Vilnius) was nominated as a member of the international network providing the best business-cooperation services (“The runner up in providing Business-Cooperation Services”). During the period of 2005-2007, EIC Vilnius together with more than 20 other European EICs implemented two of the largest projects in recent years – b2Fair and EU Matching – aimed at promoting business development and funded by the European Commission and the EU Structural Funds.  

In 2007, through LDA’s effort, the British company RGE Group entered the Lithuanian market. It has invested around EUR 12 million in the plastics industry and created 150 new jobs.  

On 1 October 2007, LDA celebrated the tenth anniversary of its activities.

In 2006–2007, in order to boost LDA’s competitiveness by strengthening its internal competence in the field of employee training, the project General Skills Training for Employees at the Lithuanian Development Agency was implemented. In the course of the project, LDA’s employees deepened their professional knowledge and participated in a number of trainings aimed at developing personal competence, efficiency and motivation.    

In December 2005, LDA opened its representative office in Brussels (Belgium).

In 2005, the project International Business Development Programme, funded by PHARE 2002 programme, was implemented. The project achieved the following results: techniques of international business development were conveyed to representatives of 20 business promotion organisations, 6 training sessions were organised and 9 international business development plans for nine Lithuanian small and medium-sized businesses were drawn up. 

In 2005, the project Promise, aimed at promoting international trade and funded by the European Commission and the EU Structural Funds, was successfully implemented. In the course of the project, 24 companies specialising in timber processing, manufacture of furniture and wooden houses, as well as production of IT, ITT and industrial software, electronic equipment and its components established 25 new business contacts with companies abroad. 

In 2004, through LDA’s effort, the Thai company Indorama invested in Lithuania. Its investments in the chemical industry amounted to EUR 81 million, and 450 new jobs were created. In the same year, the British company Christie Tyler also entered the Lithuanian market. Its investments in the furniture industry amounted to EUR 5.8 million, and 900 new jobs were created.

In 2004, the project PAVE, aimed at promoting international trade and funded by the European Commission and the EU Structural Funds, was successfully implemented. In the course of the project, 32 Lithuanian companies specialising in metal processing, equipment, appliances, electronics and electrotechnics sectors, food industry as well as companies manufacturing and selling equipment for biotechnology and food industry, established 20 new business contacts with companies abroad.

In March 2003, LDA’s representative office was opened in Milan (Italy). The activities of the representative office were terminated in July 2008.

 In 2003, LDA’s website www.lda.lt was nominated as one of the three best websites of Investment Promotion Agencies in Europe, while the video created by the Agency about business and investment conditions in Lithuania was also recognised as one of the three best marketing campaigns implemented in 2002.

In July 2003, LDA along with the Embassy of the Republic of Lithuania to the United States of America and the association the American Chamber of Commerce organised a business forum for Lithuanians in America aimed at presenting business opportunities in Lithuania and promoting relations between Lithuanian and American business representatives.

In 2002, through LDA’s efforts, the Swedish company Sapa Group, an aluminium profile manufacturer, entered the Lithuanian market. The company’s direct investments amounted to around EUR 1.5 million, and 40 new jobs were created.

In 2002, LDA opened its third representative office in Hamburg (Germany).

In May 2001, LDA founded Lietuvos infrastruktūros plėtros fondas UAB (Lithuanian Property Development Fund), a venture capital fund, financing construction and reconstruction projects of commercial immovable property all over Lithuania in areas outside the city of Vilnius. Investments in new projects were suspended at the end of 2006. 

In 2001, after assessing the websites of Investment Promotion Agencies around the globe, LDA’s website www.lda.lt was recognised to be the best in the world. The Top 100 Sites ranking was performed by the prestigious investment overview magazine Corporate Location, published by Euromoney Plc, a British information group.  

In 2001, having won a competition organised by the European Commission, the European Information Centre (EIC Vilnius) was established at the Agency. It provided information to small and medium-sized businesses interested in expansion in the EU single market, business possibilities therein, and implemented a number of international business development projects in the EIC network. In 2008, the team of EIC Vilnius joined LDA’s International Trade Development Department.

In 2000, through LDA’s effort, the Italian company Marzotto started manufacturing its products in the Lithuanian textile industry. Its direct investments amounted to around EUR 15 million, and 400 new jobs were created.

During the period from 1997 to 2001, LDA along with its Swedish partners (the Municipality of Kristianstad, the Chamber of Industry and Commerce of Southern Sweden and the University of Kristianstad) implemented the project Baltic Tigers, during which over 500 small and medium-sized Lithuanian and Swedish businesses established working relationships for long-term cooperation in the fields of trade and investment.   

In 1997, LDA’s representative offices were founded in Frankfurt am Main (Germany), Hahn (Germany) and Saint Petersburg (Russia); however, the latter terminated its activities in November 2000. 

In 1997, through LDA’s effort, Mars (USA), a pet food manufacturer, invested in Lithuania. Its direct investments amounted to around EUR 91 million, and led to the creation of around 1,000 new jobs.

The public establishment Lithuanian Development Agency (LDA; the Agency) was founded in 1997 by merging together the Lithuanian Investment Agency and Lithuanian Export Development Agency. LDA was established by the European Committee under the Government of the Republic of Lithuania. In July 2001, the Ministry of Economy of the Republic of Lithuania became LDA’s co-owner, and in January 2004 – its sole owner.