VILNIUS — In light of widespread public disapproval of the government’s handling of the economy and barbed criticism from President Dalia Grybauskaitė toward its tax policies and lack of vision, Lithuania’s economy minister boasted Tuesday that the county can expect increased foreign direct investment in the near future.

Minister of Economy Dainius Kreivys told the business newspaper Verslo Žinios on Tuesday that his ministry is in the midst of negotiating with 66 foreign companies, of which [private_supervisor]”10 are serious.” No company names were disclosed, but Kreivys promised that a major international company will open a facility in the country within a month.

Indeed, Prime Minister Andrius Kubilius has made numerous trips abroad, including a handful to the U.S. to court foreign investment in Lithuania and recent successes include Barclays, IBM and Western Union. On Wednesday he heads across the Baltic Sea to Stockholm to discuss bilateral trade and economic cooperation with the country that dominates Lithuania’s banking sector.

Despite the crisis, foreign direct investment into Lithuania increased by 5.3 percent during 2009 from the previous year according to Lithuanian Statistics.

Investment into the Vilnius region was highest with 63.7 percent of all funds landing in the capital. The Tauragė region received the least amount of investment with 0.1 percent. Kaunas received 11.5 percent of the total figure and Klaipėda, the home of the country’s port, received 9.9 percent.

The manufacturing industry was the big winner over the year with a 25.7 percent increase into the industry. It is a good sign for the nearly resource-free Lithuania, which is largely dependent on its manufacturing industry for exports.

However, the increased amount of FDI did little to turn the country’s tough job market around. Unemployment has increased steadily since 2008 and 2009’s FDI only directly created 5,300 jobs, according to the FDI monitoring website fDiMarkets.com. [/private_supervisor] [private_subscription 1 month]”10 are serious.” No company names were disclosed, but Kreivys promised that a major international company will open a facility in the country within a month.

Indeed, Prime Minister Andrius Kubilius has made numerous trips abroad, including a handful to the U.S. to court foreign investment in Lithuania and recent successes include Barclays, IBM and Western Union. On Wednesday he heads across the Baltic Sea to Stockholm to discuss bilateral trade and economic cooperation with the country that dominates Lithuania’s banking sector.

Despite the crisis, foreign direct investment into Lithuania increased by 5.3 percent during 2009 from the previous year according to Lithuanian Statistics.

Investment into the Vilnius region was highest with 63.7 percent of all funds landing in the capital. The Tauragė region received the least amount of investment with 0.1 percent. Kaunas received 11.5 percent of the total figure and Klaipėda, the home of the country’s port, received 9.9 percent.

The manufacturing industry was the big winner over the year with a 25.7 percent increase into the industry. It is a good sign for the nearly resource-free Lithuania, which is largely dependent on its manufacturing industry for exports.

However, the increased amount of FDI did little to turn the country’s tough job market around. Unemployment has increased steadily since 2008 and 2009’s FDI only directly created 5,300 jobs, according to the FDI monitoring website fDiMarkets.com. [/private_subscription 1 month] [private_subscription 4 months]”10 are serious.” No company names were disclosed, but Kreivys promised that a major international company will open a facility in the country within a month.

Indeed, Prime Minister Andrius Kubilius has made numerous trips abroad, including a handful to the U.S. to court foreign investment in Lithuania and recent successes include Barclays, IBM and Western Union. On Wednesday he heads across the Baltic Sea to Stockholm to discuss bilateral trade and economic cooperation with the country that dominates Lithuania’s banking sector.

Despite the crisis, foreign direct investment into Lithuania increased by 5.3 percent during 2009 from the previous year according to Lithuanian Statistics.

Investment into the Vilnius region was highest with 63.7 percent of all funds landing in the capital. The Tauragė region received the least amount of investment with 0.1 percent. Kaunas received 11.5 percent of the total figure and Klaipėda, the home of the country’s port, received 9.9 percent.

The manufacturing industry was the big winner over the year with a 25.7 percent increase into the industry. It is a good sign for the nearly resource-free Lithuania, which is largely dependent on its manufacturing industry for exports.

However, the increased amount of FDI did little to turn the country’s tough job market around. Unemployment has increased steadily since 2008 and 2009’s FDI only directly created 5,300 jobs, according to the FDI monitoring website fDiMarkets.com. [/private_subscription 4 months] [private_subscription 1 year]”10 are serious.” No company names were disclosed, but Kreivys promised that a major international company will open a facility in the country within a month.

Indeed, Prime Minister Andrius Kubilius has made numerous trips abroad, including a handful to the U.S. to court foreign investment in Lithuania and recent successes include Barclays, IBM and Western Union. On Wednesday he heads across the Baltic Sea to Stockholm to discuss bilateral trade and economic cooperation with the country that dominates Lithuania’s banking sector.

Despite the crisis, foreign direct investment into Lithuania increased by 5.3 percent during 2009 from the previous year according to Lithuanian Statistics.

Investment into the Vilnius region was highest with 63.7 percent of all funds landing in the capital. The Tauragė region received the least amount of investment with 0.1 percent. Kaunas received 11.5 percent of the total figure and Klaipėda, the home of the country’s port, received 9.9 percent.

The manufacturing industry was the big winner over the year with a 25.7 percent increase into the industry. It is a good sign for the nearly resource-free Lithuania, which is largely dependent on its manufacturing industry for exports.

However, the increased amount of FDI did little to turn the country’s tough job market around. Unemployment has increased steadily since 2008 and 2009’s FDI only directly created 5,300 jobs, according to the FDI monitoring website fDiMarkets.com. [/private_subscription 1 year]

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