2019.10.15 11:00

Klaipėda Free Economic Zone scores high on Financial Times rankings 2019.10.15 11:00

Klaipėda Free Economic Zone (FEZ) earned four awards in the annual Free Zones of the Year ranking, released by fDi Intelligence, a foreign direct investment publication part of the the Financial Times.

In the 2019 rankings, the Klaipėda FEZ received awards for expansions, local transport improvements, workforce amenities and the FlexStart manufacturing building, according to Klaipėda FEZ press release.

In the expansion category, Klaipėda FEZ was commended for the 50 million euros expansion project Neo Group, 12-million-euro expansions plans of Vingės Logistika, as well as electric buses manufacturer, Vėjo Projektai, moving into the FlexStart space and planning to build their own factory, and the expansion projects carried out by companies like Albright Lietuva, Lavango, AD REM LEZ, and Orion Global PET.

The workforce amenities scored high due to the FEZ Exchange series of professional events for the members of the community, as well as free bikes to FEZ employees, and the Klaipėda South Side renovation initiative.

For the third year in a row, the FlexStart building also received recognition for its quick launch capabilities, used by manufacturing, distribution, and commerce companies.

“It is a true privilege to be acknowledged by fDi Intelligence," said Eimantas Kiudulas, the CEO of the Klaipėda FEZ. "Our next major ambition is further improving the environment for manufacturers' R&D activities, as well as strengthening our portfolio of electric vehicles and renewable energy companies."

The income generated by the companies operating out of the Klaipėda FEZ reached 1.24 billion euros in 2018, according to the press release, rising 20 percent year-on-year. The FEZ companies exported products worth more than 600 million euros and paid 90 million euros in taxes. Five new companies joined the Klaipėda FEZ in the past year.