Klaipėda FEZ wins Financial Times awards

Klaipėda FEZ has once again been listed in the fDi’s Global Free Zones of the Year, a set of awards given by fDi Intelligence, a specialist division of the Financial Times and the world’s largest centre of excellence on FDI (Foreign Direct Investment).

Klaipėda FEZ has received Bespoke Awards in four categories: Flexible Space, Economic Impact, Incentives and Expansions.

“The zone contributes between 2.5% and 5% of the country’s GDP annually,” fDi Global Free Zones of the Year explains about Klaipėda FEZ in its awards report.

“The zone’s Incentives package is attractive to investors, with a 0% income tax rate for 10 years, and a rate of 7.5% for the following six years. Rates apply to companies investing €100,000 and employing at least 20 staff,” the report continues.

The awards’ organizers were particularly impressed with FlexStart, which provides tenants at Klaipėda FEZ with easily adaptable premises.

“Flexible space is offered to investors through the zone’s FlexStart complex, which offers a range of purpose-built accommodations including manufacturing and office facilities. This allows a company to establish operations within three months,” fDi comments.

NEO GROUP, one of the biggest manufacturers of PET granules in Europe, conducted the biggest expansion at Klaipėda FEZ this year – another fact that did not escape the attention of fDi.

“NEO GROUP has expanded its manufacturing facility at a cost of €50m to introduce a new production line, which would increase production activity at the site by more than 50%,” the fDi report said.

“This is a top-tier award. Klaipėda and Lithuania are mentioned next to major industrial centres in the Middle East, Asia and the United States. This proves that the innovative solutions we create and the business environment for establishing and expanding operations can compete on the global market,” said Eimantas Kiudulas, CEO of the Klaipėda FEZ Management Company.

“Contrary to popular belief, there is a lack of – and demand for – modern industrial real estate in the Lithuanian market. Klaipėda FEZ has therefore introduced something new – tailored premises that allow operations and manufacturing to start in record time. Today we are the only free economic zone in Lithuania that undertakes the process of planning and constructing its buildings. We are delighted that our efforts have been noticed by the authors of the report.”

Global Free Zones of the Year 2018 rates free economic and trade zones according to their capacity, environment and attractiveness to investors. For the fourth time in a row, DMCC in Dubai, United Arab Emirates, won the top prize.

Global Free Zones of the Year 2018: link