Kaunas is the second largest Lithuanian city in terms of size and number of inhabitants. In the interwar period Kaunas was the provisional capital of Lithuania. One exceptional feature is its modern architecture. Kaunas is widely known as an academic centre, where highly qualified industry and business professionals are educated and trained. The city has seven universities and their branches, with over 55,000 students. Immense scientific research is concentrated here, and scientific achievements are successfully connected to manufacturing activities. Kaunas University of Technology is the largest technical university in the Baltic States. The newest scientific and technological ideas meet and are constantly generated there.
Kaunas has been increasingly becoming a perfect environment for development of modern industries and businesses based on knowledge and technologies.
Kaunas is the crossing point of the major European transport routes – Via Baltica and IXB. The city boasts good railway transport, an international airport, and a river port, creating excellent conditions for logistics and industry. It also has well-developed engineering and transport infrastructure. The bypasses and inner main roads serve to reduce local and transit flows.
Kaunas has been increasingly becoming a perfect environment for development of modern industries and businesses based on knowledge and technologies.
Kaunas is the crossing point of the major European transport routes – Via Baltica and IXB. The city boasts good railway transport, an international airport, and a river port, creating excellent conditions for logistics and industry. It also has well-developed engineering and transport infrastructure. The bypasses and inner main roads serve to reduce local and transit flows.
Economic Environment and Key Investment Directions
Kaunas is inhabited by 360,000 people, occupies 157 square kilometres. GDP generated by the city totalled € 2.456 mln. and was growing 6 percent in 2006. The level of unemployment is among the lowest in thecountry – 2.4 percent.
The majority of people work in industrial, wholesale, and retail sectors. At the beginning of 2006, FDI attracted by Kaunas totalled € 383 mln. Manufacturing, wholesale and retail trade and real estate received the largest investments. The country’s most significant commercial centres are situated here – Mega, Akropolis and others.
Two-thirds of the country’s population can reach the complex within an hour. Kaunas has long 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 Sports and Entertainment Palace. Plans are to invest a total of € 60 mln. The 12 500-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.
The majority of people work in industrial, wholesale, and retail sectors. At the beginning of 2006, FDI attracted by Kaunas totalled € 383 mln. Manufacturing, wholesale and retail trade and real estate received the largest investments. The country’s most significant commercial centres are situated here – Mega, Akropolis and others.
Two-thirds of the country’s population can reach the complex within an hour. Kaunas has long 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 Sports and Entertainment Palace. Plans are to invest a total of € 60 mln. The 12 500-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.
