City Council in Favour of Free Economic Zone
City Council in Favour of Free Economic Zone
Today the members of Panevėžys City Council unanimously agreed about establishment of Free Economic Zone in Panevėžys Industrial Park.
„ By agreeing to establish Free Economic Zone today we have given a concrete promise to the investors and made a step towards creating more favourable conditions for investment in Panevėžys. There is a couple of potential investors who are waiting for this decission very much and have plans to establish on the territory of the present Industrial Park. The Ministry of Economy and the Government have the projects of the decrees ready to be discussed in the next meetings of Seimas.“- Deputy Mayor Petras Narkevičius said.
Free Economic Zones have certain tax advantages: profit tax concessions, real estate tax exemptions, etc. Potential investors who wish to develop their business on the territory of the Industrial Park have requested conditions which are applied for Free Economic Zone.
Under the decission adopted by Panevėžys City Council a land plot of 46.9 ha of the Industrial Park will be rented for the Free Economic Zone