Kaunas

Kaunas prepares for the European Men’s Basketball Championship in 2011

Kaunas is the second largest Lithuanian city in terms of size and population. 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, all 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 being generated. Kaunas University of Technology is the largest university of technology in the Baltics, a place where high-profile specialists are being formed. The university is among the best in Lithuania based on rates of scientific research.

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. The Pažaislis Monastery, which emerges on the peninsula of the lake,  hosts cultural events in summertime.

Economic Environment and Key Investment Directions

Kaunas is inhabited by 350,000 people. One-fifth of the country’s GDP is generated in Kaunas. The inhabitants of Kaunas are well educated – more than one fifth of them have higher education. The majority of people work in industrial, wholesale, and retail sectors.

In 2009  FDI attracted by Kaunas totalled € 660 million. Manufacturing, wholesale, retail trade, and real estate received the largest investments.

For many decades, Kaunas has been proud of its basketball team Žalgiris. In 2011 Lithuania is hosting the European Men’s Basketball Championship. It’s no surprise that a unique city location – Nemunas Island – has been chosen for the construction of the 14,500-seat Kaunas Sports and Entertainment Palace (the Arena) where the final games have to be arranged. The development of investment projects in the Central part of Kaunas neighbouring the Arena, Nemunas Island park, Laisves Aleja pedestrian mall, and the underground parking lot at Vienybes Square will improve visiting conditions for sports fans and tourists.