2017 was a remarkable year for the enterprises based at Klaipeda FEZ, the Baltic region’s most successful free economic zone. Revenue rose by 16.5% to €1 billion and 12% more jobs were created, the Klaipeda FEZ-based enterprises’ data for the year reveals. The results are clearly an inspiration for further growth this year, as seven new projects have already been signed at Klaipeda FEZ in 2018.
“Currently more than 5,400 employees are working within the territory of Klaipeda FEZ. The key factor behind the revenue growth is the skills of the employees, another reason being the optimisation coming from adding new technologies to the manufacturing process,” said Eimantas Kiudulas, CEO and Board Member of Klaipeda FEZ.
“The companies are growing and delivering excellent results also because of the location, as the close proximity to the Port of Klaipeda allows companies here to easily reach markets in Scandinavia and Western Europe, as well as the African markets with which an increasing number of partnerships are being witnessed.”
The growth at Klaipeda FEZ is clear. Even though there were no new enterprises launching operations in the free economic zone in 2017, many of the existing businesses continued expanding.
The growth leader at Klaipeda FEZ in 2017 was Albright Lithuania, the UK manufacturer of automotive contactors and disconnect switches.
“We have been witnessing the intense growth continue in 2018. Enterprises such as AdRem LEZ and NeoGroup have started expansion projects, while Retal Baltic and Indorama Ventures are also planning their business growth,” said Mr Kiudulas.
Three new companies have signed to join the Klaipeda FEZ business community this year. These are Focus Fabrication Group, a metal processing plant backed by investors from the Netherlands, Capella Baltica, a Spanish cosmetics and food industry supplier, and Baltic Eukutec, a cable manufacturer from Germany.
In total, Klaipeda FEZ has actively been involved in attracting 29 businesses to Lithuania, and there are now more than 100 businesses up and running in the zone.
According to Mr Kiudulas, the growth in revenues is also being driven by continuous export growth, which increased by 13.2% in 2017 compared to FY 2016, amounting to €718.8 million.
“The production of enterprises operating at Klaipeda FEZ is highly competitive and in demand on the international market. The outstanding results are being delivered because of a quality-oriented approach, the highly skilled employees and favourable business conditions.”