Lithuania has continued its strong growth in attracting foreign direct investment projects over the first half of 2014 despite a fall in investments in the region as a whole, according fDi Markets, The Financial Times’ database of foreign direct investment (FDI).
This year, Lithuania is ranked 41st by competitiveness among 144 countries of the world. It has gone up seven positions against 2013, the World Economic Forum reports.
Tourist flow to Lithuania increased twice in the second half year of 2014. Lithuanian State Department of Tourism presented the data after summarizing results of the first half year, during which time the number of foreign tourists, who visited Lithuania and spent nights at tourism accommodation establishments, increased by 12.2%, while the number of Lithuanian tourists increased by 11.3% compared with the same period in the previous year.
On 23 August, Lithuania, Latvia and Estonia mark the 25th anniversary of the Baltic Way. A quarter of a century ago, the three nations joined their hands to make a human chain from Vilnius to Riga and Tallinn.
Business confidence among foreign-owned companies in Lithuania has been growing, shows Investors' Confidence Index published by the Investors' Forum.
Lithuania has been placed 35th out of 187 countries in the United Nations (UN) Human Development Report 2014, which measures a Human Development Index. This is the best result in the history of Lithuania. Lithuania has risen 6 places since 2013. As a result, it has entered the club of 49 countries with a “very high human development” level, climbing out of the broader group of countries rates as having “high human development”.
Yesterday the European Union General Affairs Council of Ministers has adopted the final decision on Lithuania’s participation in the Economic and Monetary Union (EMU) from 1 January 2015. From this date Lithuania will become the 19th full-fledged member of the eurozone, which will start using the euro as the single currency of the European Union.
On 10-13 July 2014, Lithuania for the second time will host the Meeting of World Lithuanian Youth. The festival, covering the subjects of business, science, politics, and culture, is intended to encourage interaction and cooperation between the Lithuanian youth living in Lithuania and abroad.
International credit rating agency Fitch has positively assessed consistent steps of Lithuania in pursuit of public finance sustainability and the fact that during the meeting of the EU economics and finance ministers (ECOFIN) the recommendation to adopt the Euro in Lithuania in 1 January 2015 was approved, and upgraded Lithuania’s long-term borrowing rating from BBB to A-.