KAUNAS
Kaunas Prepares for the European Men’s Basketball Championship in 2011
Kaunas is the second largest Lithuanian city in terms of size and number of inhabitants. In the interwar period Kaunas was the country’s provisional capital. An exceptional feature of the city is its modern architecture.
Kaunas is the crossing point of the major European highways – Via Baltica and IX B. The city boasts a good railway transport system and an international airport, creating excellent conditions for logistics and industry. Kaunas is the perfect place for development of production business.
In Kaunas the newest scientific and technological ideas meet and are constantly generated. Kaunas University of Technology is the largest university of technology in the Baltics, a place where wide-profile specialists are being raised. The university is among the best in Lithuania based on rates of scientific activity.
Kaunas is surrounded by water. Lithuania’s two main rivers – the Nemunas and the Neris – meet in Kaunas. Kauno Marios Lake offers water sports and entertainment opportunities. Pazaislis Monastery that emerges on the peninsula of the lake hosts cultural events in summertime.
Economic Environment and Key Investment Directions.
Kaunas is inhabited by 360,000 people. One-fifth of the country’s GDP is generated in Kaunas. The unemployment rate is among the lowest in Lithuania. The majority of people work in industrial, wholesale and retail sectors.
In 2005, FDI attracted by Kaunas totalled € 1.15 billion. Manufacturing, wholesale and retail trade, and real estate received the largest investments.
This year in the vicinity of Kaunas, Mega Commercial and Entertainment Centre, the largest in Central Lithuania, was opened. Two-thirds of the country’s population can reach the complex within an hour.
Since old times Kaunas has been proud of its basketball team Zalgiris. It’s little wonder that a unique city location – Nemunas Island – has been chosen for construction of Kaunas Leisure and Sports Arena. A total investment of € 29 mln. is planned. The 12,000-seat universal sports arena is of extreme significance, because in 2011 Lithuania is hosting the European Men’s Basketball Championship. The arena will be ideal for the championships of other sports as well. Cafes, hotels, and an entertainment zone will nestle to the arena. The total amount of investments surrounding Kaunas Sports and Entertainment Palace is € 0.7 billion.
Kaunas is inhabited by 360,000 people. One-fifth of the country’s GDP is generated in Kaunas. The unemployment rate is among the lowest in Lithuania. The majority of people work in industrial, wholesale and retail sectors.
In 2005, FDI attracted by Kaunas totalled € 1.15 billion. Manufacturing, wholesale and retail trade, and real estate received the largest investments.
This year in the vicinity of Kaunas, Mega Commercial and Entertainment Centre, the largest in Central Lithuania, was opened. Two-thirds of the country’s population can reach the complex within an hour.
Since old times Kaunas has been proud of its basketball team Zalgiris. It’s little wonder that a unique city location – Nemunas Island – has been chosen for construction of Kaunas Leisure and Sports Arena. A total investment of € 29 mln. is planned. The 12,000-seat universal sports arena is of extreme significance, because in 2011 Lithuania is hosting the European Men’s Basketball Championship. The arena will be ideal for the championships of other sports as well. Cafes, hotels, and an entertainment zone will nestle to the arena. The total amount of investments surrounding Kaunas Sports and Entertainment Palace is € 0.7 billion.
