Panevėžys is the fifth largest city in Lithuania. It is a crossroad for the main national roads, the highway VIA BALTICA runs through it. Railway lines provide good transportation facilities, the narrow gauge railway is used for tourism.

It is halfway between the two Baltic capitals- Vilnius and Riga. The distance to the ice-free sea port is 225 km. A favourable geographical position provided good possibilities for many companies to be established in the city.

In 2018 the GDP of Panevėžys County made 5, 7 % of the total national GDP and made 2559, 5 million Eur. Comparing with previous years the GDP in Panevėžys County increased 9, 7 % and made 2251, 5 million Euros. One inhabitant of the County received 11, 8 thousand Euros of GDP. The largest amount of Gross Value Added has been created in industry (28, 6 %) and wholesale/retail trade, transport and storage, accommodation and catering sectors (26, 6%).

For the beginning of 2020 there were 3 506 companies functioning in Panevėžys. The largest part is covered by wholesale and retail traders, repairing of vehicles and motorcycles (24,8 %). Among others are service companies (19,0 %), processing industry (8,9 %), transport and storage (8,7 %). In comparison to 2019, the number of functioning companies in Panevėžys decreased 1,2 % in a year. Small and medium business (companies with 0-4 employees) prevails in Panevėžys (the data of the beginning of 2020).

 In 2018, the General County Export equaled to 1226,4 million Euros or 7,1 per cent of the total Lithuanian export. In comparing 2018 with 2017, export increased 2,1 per cent.

Export is mainly directed to Norway, Italy, Latvia, Germany, Poland,Sweden and Netherlands.

Norwegian Industry Park, the only such in Lithuania, is rather successful in Panevėžys.

 By the end of 2018, the direct foreign investments in the City of Panevėžys made 287,29 million Euros. One inhabitant of the city received 3297 Euros of foreign capital. 1,7 % of the total foreign capital invested in Lithuania was shared by the companies of Panevėžys at the end of 2018.

Investments in Panevėžys (by the end of the year)

According to the investments of 2018, the biggest countries investors in Panevėžys County are Denmark (invested 87,88 mln. Euros), Germany (invested 41,96 mln. Euros), Norway (invested 28,44 mln. Euros), Estonia (invested 42,52 mln. Euros), Switzerland (invested 52,46 mln. Euros), France (invested 61,9 mln. Eur).

The anchoring of biggest investors and the development of their activities in Panevėžys should encourage the potential investors to choose Panevėžys. The city proposes diligent and well-qualified labour force, which is able to work in the sectors of industry, construction, trade, management and other.

The Municipality provides land lease, land and real estate property tax allowances to the establishing companies and the companies which have already created new working places. By the decision of the City Council taxes can be reduced, companies can be exempted from taxes or the term of paying can be postponed.

The interests of businessmen are represented by Panevėžys Chamber of Commerce, Industry and Crafts and Panevėžys Business Advisory Centre. Business in the city is developed by the help of Kaunas University of Technology, Tourism Information Centre.

Information about the support of EU structural funds for businessmen is available at Lithuanian Business Support Agency.

Panevėžys City Municipality has approved Strategic Development Plan (2014-2020) with the priority development directions, aims and tasks.

The City Municipality is the main shareholder of 9 companies which are responsible for city cleaning, supply water and heat, provide transport services, etc.

Municipal companies

The Largest Companies

The city is open to investments and invites businessmen to start and develop their business activities.  A favourable attitude of city authorities  towards investors, the understanding that only cooperation with private business structures bring success in city development serve well.