Investment climate of Lithuania and advanced ruling of investments
ENThis paper will discuss how motives and priorities, which determine the opportunities and expediency of investments for the country receiving investments and for the investors, are influenced by a favourable business climate. The article also describes the dynamics and situation concerning investments in Lithuania. A survey was conducted with the aim of identifying the opinions held by the most important (largest) foreign investors in the economy of Lithuania, the opportunities, specific aspects and problems of doing business in Lithuania and the investment climate in Lithuania. Based on the survey, basic claims (remarks) by foreign investors concerning the present business situation in Lithuania have been identified and discussed, and suggestions for the improvement of the business environment put forward.In order to form a more positive business climate a proposal was made to establish and implement a system of advanced ruling for work with serious foreign investors. The said system could be implemented by a Division for the Advanced Ruling of Investments. This division could be included in the structure of the Lithuanian Ministry of Finance and have its official base in Vilnius. The head of the division would be authorised to offer and guarantee special tax conditions and amounts to serious foreign investors, and sign official documents with them on behalf of the Republic of Lithuania. This could help eliminate any unnecessary bureaucracy and ensure investors with the relevant stability of guarantees. There exists the opinion that the proposed advanced ruling of investments system would positively influence the investment climate and attract investments to Lithuania.
