Panevėžys is the fifth largest city in Lithuania. It is a crossroad for the main national roads, the highway VIA BALTICA runs through it. 

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 2019 the GDP of Panevėžys County made 5, 7 % of the total national GDP and made 2559, 5 million Eur. One inhabitant of the County received 12, 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 2023 there were 4 331 companies functioning in Panevėžys. The largest part is covered by wholesale and retail traders, repairing of vehicles and motorcycles (28,4 %). Among others are service companies (17, 9 %), processing industry (8,9 %), transport and storage (8,9 %). In comparison to 2022, the number of functioning companies in Panevėžys increased by 21 %. Small and medium business prevails in Panevėžys.

In 2020, the General County Export equaled to 1226,4 million Euros or 7,1 per cent of the total Lithuanian export. The export of Panevėžys County 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 2021, the direct foreign investments in the City of Panevėžys made 400, 50 million Euros. One inhabitant of the city received 4572 Euros of foreign capital. 1, 47 % of the total foreign capital invested in Lithuania was shared by the companies of Panevėžys at the end of 2021.

Investments in Panevėžys (by the end of the year)

According to the investments of 2022, the biggest countries investors in Panevėžys County are Denmark (invested 130,08 mln. Euros), France (79, 66 mln. Euros),Switzerland (invested 61,79 mln. Euros) Germany (invested 54,38 mln. Euros), Norway (invested 54,14 mln. Euros), Estonia (invested 45,15 mln. Euros).

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, Panevėžys Development Agency.

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

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.