Akmenė FEZ - first €4 million investment for sustainable investment projects

Two sustainable investment projects in the Akmenė Free Economic Zone (FEZ) have already received a €4 million investment from the European Union.

"To reduce pollution and restructure Lithuania's industry, we need to create the conditions for alternative and sustainable jobs now. To create a favourable environment to attract investors, we have allocated the first funds to the Akmenė FEZ. This will help create new jobs and increase the region's competitiveness," said Aušrinė Armonaitė, the Minister of the Economy and Innovation.

The funding will be used for the construction and development of infrastructure in the northern and southern parts of the Akmenė LEZ. 

The funding was granted to 2 applicants: Akmenė District Municipality Administration received €1.3 million and Akmenė Free Economic Zone UAB received €2.7 million. 

"The sustainable investments will help Akmenė Free Economic Zone to install and modernise engineering networks, transport communications, overhaul infrastructure, build and reconstruct roads. The investments will certainly pay off, as improving this infrastructure will increase investors' interest in the region," said Iveta Paludnevičiūtė, the  Chancellor of the Ministry of the Economy and Innovation.

Last year's €1 billion plan to strengthen Lithuania's economy included €165.2 million for industrial transformation towards a climate-neutral economy and a further €97.6 million for the Equitable Transformation Fund to create sustainable jobs by investing in the creation and development of industrial sites and attracting investors.  

For the creation of sustainable jobs and investments in the creation and development of industrial sites, EUR 11.74 million are foreseen for Akmenė District Municipality, EUR 8.6 million for Jonava District Municipality.

The Facility "Improving the competitive environment for attracting investment" is implemented under the Equitable Transformation Fund of the European Union Investment Programme 2021-2027.