EIMIN: Agreement signed to launch the creation of an FEZ in Visaginas
In order to create a favourable environment for new investments, Karolis Žemaitis, Vice-Minister of the Economy and Innovation, and Erlandas Galaguzas, Mayor of the Municipality of Visaginas, signed an agreement on the initiation of the establishment of a free economic zone (FEZ) in Visaginas.
"Our aim is to increase the industrial and investment attractiveness of the region and to facilitate the attraction of investments, the development of high technologies and the creation of new jobs. This will help to boost not only the employment of the population, but also the entrepreneurship of young people and create more opportunities to increase the economic potential of Visaginas. We still have a lot of work to do to make this initiative a reality, including deciding what kind of FEZ it could be," says Karolis Žemaitis, Vice-Minister of the Economy and Innovation.
It is planned that the FEZ could be established in Grikiniškės Street, Drūkšiniai, Visaginas municipality. The FEZ would be operational by the end of 2026.
EIMIN will work with the relevant authorities to ensure that the proposal for the establishment of the Visaginas Municipal FEZ, together with the decision of the Visaginas Municipal Council, is submitted to the Government and discussed at the spring session of the Parliament in 2025. EIMIN will also work to ensure that once the law on the establishment of the FEZ has been adopted by the Seimas, the Government will take further decisions on the international tender for the preparation of the best business plan for the zone and for the selection of the founding group.
The municipalities of Visaginas will strive to ensure that the LEZ area is used very efficiently to attract investors and create significant added value for both Visaginas municipality and the entire Utena region.