BCC Paper No. 47

Didzioji 5, LT- 01128

“British Investment in Lithuania: present and future” Interview with AVIVA Lithuania CEO Asta Grabinske

Ramūnas Barcevičius

Fay James

John May

The British Investment in Klaipeda – Albright Lithuania

Brits in Lithuania

Equipping young people for life

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issue No. 47

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Lithuania in the eyes of Barclays: talented people, excellent infrastructure and a politically stable environment

In the British Chamber we are used to hearing the story about British nationals going to withdraw their cash from Barclays Bank in the Green Building Upes St, and how surprised they are to discover that, in fact, the glass building with the shiny Barclays logo on the top is not exactly what they are looking for. Yes, it’s actually not a bank, we say, the Lithuanian banking sector is dominated by Scandinavian Banks.

photo by Simas Bernotas

The building you just came across and the logo you recognized is for Barclays Technology Centre, one of the four centers in the world providing IT services for Barclays Bank.

Established in 2009, the Barclays Technology Centre in Lithuania currently employs nearly 1300 IT professionals of 20 different nationalities. The company is actively cooperating with universities in Lithuania, supporting various initiatives and programmes to advance the IT industry in Lithuania. In 2014, the Barclays Technology Centre expanded its activities by opening a new human resources centre, creating 80 new jobs. We took the opportunity to interview Giedrius Dzekunskas, Head of Barclays Technology Centre in Lithuania, and asked him to discuss his views on the present and future prospects for BTCL. Giedrius Dzekunskas, Head of Barclays Technology Centre in Lithuania

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British investment in Lithuania is based on trust

Justinas Pagirys Director of the Investment Development Department at Invest Lithuania

Over the last three years, British direct foreign investment in Lithuania has been multiplying on average by 1.3 times per year, and according to Q3 2013 data, amounted to almost EUR 220 million.

There are almost 140 British companies operating in the country; they are expanding at an astonishing rate and say they have no intention of stopping.

Trend – service centres According to 2012 data, the British invested the greatest amount – more than EUR 70 million – in the finance and insurance sectors. Over the last few years, investors from Great Britain have

shown most interest in service centres. The recession propelled companies to allocate their resources more effectively, and as a result many of them chose to relocate services and start up joint service centres, thus reducing the costs and enhancing effectiveness. For instance, the British company CallCredit, which opened an IT centre in Kaunas in 2012, plans to expand the division of data analysts and increase the number of employees by 50 by the end of this year.

In the last three years, the service centre sector in Lithuania grew by as much as 82%. It is in this sector that British companies are the most active investors. Of all investment made in service centres, the largest share (19%) comes from Great Britain.

On the one hand, this is thanks to the developed IT infrastructure in Lithuania: one of the fastest Internet speeds in the world, cloud computing solutions, and the introduction of the latest communication technologies throughout the country. In 2012, the IMD World Competitiveness Yearbook named Lithuania the most competitive investment location in the field of communication technologies, whilst in 2013 Vilnius was recognised as the best city for service centres in Central and Eastern Europe. On the other hand, British investors settled in Lithuania emphasise above all the value of raw talent they find here. continued on page 7 >

A decade of growth looming large for Camira Fabrics in Ariogala Camira Fabrics is a textile factory in Ariogala, near Kaunas. Camira moved some of its production from the UK to Lithuania about 8-10 years ago. This is a successful British investment into manufacturing in Lithuania. The company makes contract fabrics for commercial interiors, such as industrial seating used in buses and trains, but also in educational buildings. We are talking to Nick Brown, Camira Group finance director and Alan Williams, company operations director to find out more about company operations in Lithuania and to hear why Lithuania was chosen for the investment:

UK and some of our key European customers in Scandinavia, and also had good logistics links back to the UK and into mainland Europe.

What fabrics do you produce in Lithuania and how do they differ from those produced in the UK?

Can you explain how you came to relocate your factory to Lithuania, rather than say, to China, or to another European countries?

In Lithuania, we manufacture all of our fabrics destined for the mass transportation sector primarily for seating - this includes Bus Coach and Train. We also extrude polymer to make synthetic filament which is then air textured to make into yarn. This is then woven in the UK where we manufacture fabrics for commercial interiors which is usually for upholstery and vertical surfaces.

We looked at a number of countries in Europe.

Camira’s biggest export markets are in Europe and therefore it was important that we chose a country that was truly European and part of the European Union which ruled out China and other countries such as Bulgaria which we had looked at a few years earlier. Lithuania had a history in textiles, was well located in relation both to the

“Lithuania had a history in textiles, was well located in relation both to the UK and some of our key European customers in Scandinavia, and also had good logistics links back to the UK and into mainland Europe.” continued on page 7>

BCC paper issue No 47

BCC paper issue No 47

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From the Chairman

Members’ Discount Scheme Updates

Lithuania as a destination for British Investment

Chris Butler, Chairman of the Board, BCC Lithuania

As a member of the British Chamber of Commerce and BCC Membership Card holder you can benefit from the following discounts and special offers: Campanile Vilnius Airport Hotel - 15% discount from the best available rate for accomodation NEW! AVIS rent a car– 25 % discount for short-term rentals within Lithuania and the Baltic states; special quotes for outbound and chauffeur drive rentals; tailor-made full leasing and fleet management offers; corporate Charge and Avis Preferred cards. Please note that these discounts are only valid when making direct orders through the AVIS Lithuania office. Ąžuolyno klinika, a private hospital- 15% discount for medical consultations Baltic American Medical & Surgical Clinic -10% discount for all medical consultations Baltic Surveys -10% discount for market research services in the Baltic states Best Western Hotel Vilnius & Best Western Central - 10 % discount from the best available rate for accommodation and 10 % discount from the A la Carte Menu.

JURIDICON Law firm - 20% discount for services, no hourly fee.

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When the British Chamber of Commerce in Lithuania was founded 15 years ago, one of the main items on our agenda was to promote Lithuania as a destination for British trade and outward investment. It is probably fair to say that which has yielded, at best, mixed results.

This is hardly surprising for a number of reasons – such as the lack of historical ties, the geographical distance, the small size of the Lithuanian domestic market and the simple fact that the UK is a large place where it is difficult for a small country like Lithuania to get its voice heard. Just as an aside, when I was at school we were always taught that we lived in a small country. It is only since I have been living in Lithuania that I have come to realise that as the 6th largest economy (by nominal GDP) with the 80th largest population, the UK is in fact rather large.

In any event, the first wave of western investors started coming to Lithuania in the 1990s usually for one of two reasons –to buy large existing business (such as banks and infrastructural assets) or as a location for new production facilities. Most of these investors came from Scandinavia, Finland and Germany and not from the UK. As a British banker who shall remain anonymous rather sniffily told me at some point in the late 1990s – “unlike SEB of Sweden we are not interested in buying Lithuanian banks, but we might be interested in buying SEB...”

After the turn of the millennium a trickle of UK investors started to arrive, seeking manufacturing facilities at a good price/quality. A “cluster” of three British companies – British Vita, Sofabrands and

Halbro – can be found in Alytus. Camira Fabrics has a production facility in Ariogala and Klaipeda Free Economic Zone has attracted Albright International, a manufacturer of switches and connectors – both of these success stories are reported elsewhere in this Paper. Pabrade boasts probably the largest employer amongst UK manufacturing investors – Intersurgical, which employs 1,500 people in producing devices for respiratory support.

Despite these and other successes, for an economy the size of the UK the number of manufacturing investors still remains stubbornly small.

Representing the financial services sector, Aviva opened in 2001 and have been doing very good business ever since and this, we should not forget, is a business based on the Lithuanian domestic market.

Fortunately, at least as far as financial services is concerned there has been one “game-changer” in terms of British investment - the success of Lithuania in marketing itself as destinations for shared service centres. Bearing in mind the anonymous banker’s comments, it is a delicious irony that the largest British investor in Lithuania (and certainly the best known) is Barclays, with its operations centre of more than 1000 people in Vilnius. Call Credit, another UK financial services business, is proving that Kaunas can be an equally great location for operations.

As for the future, I remain optimistic that the UK and Lithuania will build up more economic ties, at least partly as a result of the many Lithuanians who live in the UK and maintain close links between the two countries. These ties will remain and where there is personal contact, there will be business as well.

The BCC Paper is the official quarterly publication of the British Chamber of Commerce in Lithuania, covering a wide variety of subjects related to business between the UK and Lithuania. Every edition focuses on a different business sector. It also provides an outlet for the chamber and its members to publish their latest news and offer their professional views on current political, economic, European and cultural topics. The paper is widely circulated: available from Lithuania’s two main airports, business centres, hotels and the UK and Lithuanian embassies, in addition to being sent to all BCC members and business contacts, meaning it offers premium advertising space to companies wishing to engage with the Lithuanian business community.

Next publication date: July 2014, theme “British business and trade in Lithuania”

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BCC paper team:

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Editor in Chief – Chris Butler Editorial support: Helene Ryding, Alistair Day-Stirrat, Sandra Kundrotė Members section - Jurga Prakapaitė, advertising – Sandra Kundrotė, e-mail: Sandra@bccl.lt , tel. +370 5 2690062 Proofreading – Shaun Harvey Layout - Tautmilė Stanevičiūtė

Regus - 15% discount on all products Shakespeare Boutique Hotel - 20 % discount for Shakespeare Hotel accommodation; - 15 % discount on all regular priced menu items in Sonnets Restaurant and The Globe Bar. VARUL, Law firm - free of charge first consultation; 10 % discount for all services Vinkleris and partners, Law firm - 25% discount for the services, no hourly charge, special priority while providing service.

When contacting the companies, please indicate that you are a BCC member, provide your company name and BCC Membership Card number. For more detailed information about special offers & discounts please visit our website www.bccl.lt.

Advert sizes and prices Prices Size

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Back page 1000 cm²

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BCC Non member rate

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For further information or to book your ad space, please contact the chamber: Tel. +370 (5) 269 00 62/84, e-mail: Sandra@bccl.lt

BCC Lithuania attends COBCOE Annual Conference and Gala Dinner in London On April 7th – 9th 2014, the British Chamber of Commerce in Lithuania was represented at COBCOE Annual Events in London – once-a-year opportunity to share working experience between the British Chambers of Commerce in Europe and the national British Chambers of Commerce in the UK. This year COBCOE Gala Dinner and COBCOE Awards ceremony at The Law Society in Chancery Lane, in the heart of London's legal world, was attended by over 150 distinguished guests, including BCC Lithuania former and existing members.

This year annual 3 days COBCOE programme in London was packed with different events. On 7th April the first COBCOE Training Academy Day was hosted by Thames Valley Chamber of Commerce in their chamber premises outside London, providing an excellent best practice sharing session and also opportunity to establish direct business contacts with this UK chamber. The COBCOE delegates received a warm welcome from Paul Briggs, Chief Executive, Anne White, Head of International Trade and Compliance and the rest of the team from Thames Valley Chamber of Commerce.

On 8th April, the 2nd day of COBCOE Training Academy took part at the magnificent London & Partners offices, where series of interactive workshops, the best practice exchange sessions and case study presentations were delivered or moderated by a number of lecturers.

On 9th April, Annual COBCOE Conference “Make Europe Work” took place at the ICAEW, Chartered Accountants’ Hall and brought a number of acclaimed guest speakers such as Mark Berrisford-Smith, Chief Economist, HSBC, Lady Barbara Judge CBE, Matthew Hall, Chief Commercial Officer, London City Airport and others. The 3 days event was traditionally highlighted with Gala Dinner and Chamber of the Year Awards Ceremony, held at The Law Society with the guest speaker Baroness Sarah Ludford MEP.

BCC Lithuania table guests at COBCOE Gala Dinner (from left: Jurga Prakapaitė and Sandra Kundrotė, BCC Lithuania, David Clark, Today Translations, Jaime Faus, Pullman London St Pancras, Ben Harvey, Growing Talent, Amit Majithia, St Andrew Capital, Jurga Žilinskienė, Today Translations and Vaiva Jakelytė, Baltic Medical Centre (Šarūnas Šiugžda, LitCapital is missing in the picture)

Essex – the place to do business Its’ aviation links to the rest of the world are excellent too with a major airport at London Stansted which offers regular flights over 140 destinations, including to Vilnius and Kaunas through Ryanair, whilst Southend Airport offers a growing range of destinations in Europe and, via flights to Dublin, to the United States.

Debbie Joyce International Trade Manager Essex Chambers of Commerce Essex is one of the most vibrant areas in which to do business in the UK, close to London and with excellent road and rail connections to the rest of the country.

We also have two universities in Colchester and Chelmsford who offer a range of opportunities for businesses of all types and sizes to engage with them and get the benefits of working with graduates bringing with them new ways of working. As a county it is one of the most entrepreneurial in the UK and one that offers real opportunities to businesses of all shapes and sizes.

It has a long maritime history and record of trading across the globe. Today that is continued through ports at Harwich, Tilbury and the newly opened London Gateway Container Terminal and Logistics Park, the latter will eventually be the largest in Europe. A smaller port, Baltic Wharf, specialises in the import of timber from Scandinavia and the Baltic into the UK.

Essex Chambers of Commerce are the major business organisation for Essex offering support with international trade, networking events to gain new contacts, business to business exhibitions, and meetings with our Members of Parliament to get more business support from government. To find out more about us go to www.essexchambers.co.uk

BCC paper issue No 47

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BCC paper issue No 47

“British Investment in Lithuania: present and future”

“British Investment in Lithuania: present and future”

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Interview with AVIVA Lithuania CEO Asta Grabinske

Last year was quite active in the context of the Pillar II pension reform in Lithuania and we did a wide communication campaign explaining its working schemes and benefits to everyone who is using it.

Lithuania was becoming a Western country, which was promising for us in terms of demand for financial products.

Lithuanian financial services are developing side by side with all other European markets and we believe that each year we are a part of society which is becoming more and more mature in terms of financial traditions.

In addition to what has been said, we have an economic and tax environment in Lithuania which is also supportive for long-term savings and investment products.

We have always been exceptional in the longterm savings and investments market because we offered unit-linked and flexible protection services which were based on a strong actuary background that came from the United Kingdom.

We made our life insurance policies valid for a person's entire life, we were also market pioneers who presented insurance possibilities for medical treatment in ambulatory.

It is also important to mention that our professional approach towards sales and sales personnel, long-term relationships with customers and new type of products helped us to become one of the market leaders.

“Lithuanian financial services are developing side by side with all other European markets and we believe that each year we are a part of society which is becoming more and more mature in terms of financial traditions” Here in Lithuania you don’t offer home insurance or car insurance. Is there a reason for that?

First of all, the general insurance market in Lithuania is quite overcrowded and customers’ needs are satisfied in this area.

Our business is more sophisticated. Aviva Lithuania is one of the long-term savings and investment market leaders in the country and we believe our key to success has been adopting a sustainable view towards providing professional life insurance and pension funds services. People are looking for the right way to manage their money, so our job is to show them we are the correct answer.

Is there any other exclusiveness you are providing in terms of your financial services?

We believe that our specialised financial advisers play the key role in our business model. We are promoting long-term relationships between a customer and financial adviser – all customers have their own personal adviser for the entire period of their agreement. All our customers meet their financial advisers at least once a year. This is our competitive advantage.

We understand that our life is becoming more global and is becoming more digitalised, people are pushing themselves into an online based lifestyle, the flow of information is getting bigger and bigger every day. But when it comes to getting financial advice there is no better way than to discuss it with an expert face-to-face.

How do you see the future development of financial services in Lithuania?

We are living in a global market where improvement of services is not related to the situation in one country – it is a global matter.

Ramūnas Barcevičius, Managing Director of Albright Lietuva

Our annual programs include a blood donation which started in 2006. This year we also had voluntary bees, in which 350 of our colleagues and 250 children from care institutions participated.

Albright Lietuva, located in Klaipėda Free Economic Zone, is the Lithuanian production unit of Albright UK, and at the same time the only British investor in the main port town of Lithuania. The company makes switches and contactors, which are sold all over the world, but are mainly incorporated into other manufacturers’ large pieces of equipment. Albright Lietuva has operated to the ISO9001 quality system since early 2010, and has also obtained the ISO14001 environmental management system accreditation since 2012. The company in Lithuania is run by Ramūnas Barcevičius, who is proudly telling us all about the company’s operations in Lithuania and why this market was chosen by the British investor 6 years ago:

Each year we celebrate Aviva day which is dedicated to children from care institutions all over the country. We believe that our positive examples, personal education and charity will help them to become good members of society in future.

Ramūnas, from Albright's company website it seems that 2008 and 2009 were years when the company expanded across the world, with new manufacturing units in Germany, Lithuania and China. Could you tell us something about the reasons for expansion?

We cherish strong relationships with our local communities, in every city in which we operate.

First of all, to be more accurate, the German site is not a production unit, only a sales office. We will speak mainly about production units. The Chinese site was built to serve the Far Eastern market. The Lithuanian site was set up to move part of production from the UK because of lower labour costs, that is obvious. This is the main reason both these factories were set up in 2008. The market is quite tight so production costs are really important. By producing in Lithuania we are reducing the costs of the switches.

How does AVIVA work with the community in Lithuania to build trust in the company?

The core of our business is adopting a responsible and sustainable long-term view towards customers, colleagues, communities and business partners.

Talking about corporate social responsibility, we have developed a strong and unique voluntary program, most of our projects are long-term contributions.

Prepared by Helene Ryding, BCC Social Member

Actually I did not work for the firm at that stage but I understand from my boss that the reasons were as follows. There were two companies who were very active in helping us set up a factory in Lithuania. These were the former Lithuanian Development Agency and the management of the FEZ itself. At that time Klaipeda FEZ was far more organized than other free economic zones. The tax advantages were clearly a strong incentive as well.

When it came to choosing Lithuania, Albright already had some suppliers in Lithuania before setting up, so they knew the mentality of the people, that Lithuanians are very hard working people.

And why Klaipėda? Company has chosen Klaipeda, because of attractive geographic location for the logistics. It is close to the sea port, which we do not use very often, but it’s good to have the possibility to use the port and there are very good logistic facilities. Actually since Lithuania is in the centre of Europe, transporting goods is very easy.

Have the results justified the decision to set up in Lithuania?

Definitely, the tax system is very good for us, of course and we feel very good here.

How long did it take from the initial decision to start operations in Lithuania to becoming fully operational? Were there any snags you had to overcome? Any pleasant surprises?

Actually, Albright Lietuva was founded in May 2007 and by December 2008 started operations, with 12 people and a production output of 800 switches a week. Gradually we increased our production lines and staff, up to the current situation where we have production of 17,000-20,000 switches per week with 100 employees. So most of that growth was during the recession, and we think it was pretty impressive to grow so much.

We think this is a good sign and we are proud of our management Although it seems most of your products are exported, can you tell us where in Lithuania we are likely to see your products? And where do most of the products go to from Lithuania?

KLAIPEDA FREE ECONOMIC ZONE

Intricate assembly work at Albright Lietuva

Most of Albright Lietuva workforce are women

Lithuania is a very small market for our product.

We have no sales office here, our sales are managed from the UK. Our switches go to UK and may come back to Lithuania as part of an end-user product like a fork-lift truck or other equipment.

Our switches go to Germany, France, Italy, Slovakia, the UK, USA, and all over the world. Of course we have a couple of competitors, no company has a monopoly, but competition in Europe is more or less stable.

In the UK, you have joined the Governments 2006 Young Apprentice Scheme to develop your own engineers. What opportunities are there for young people in your Lithuanian factory to develop their careers?

“At the moment we employ 80% women and 20% men so the men are lucky! When we place an advert in the local labour exchange 90% of the CVs are from women applying, I don’t know why, maybe the gentlemen are very busy?”

It seems that most of your workforce are women. The website photos show women doing quite intricate assembly work. Have you had to train them from scratch or was there already a workforce with existing skills?

This is quite a common question. At the moment we have 80% women, and 20% men, so the men are lucky! When we place an advert in the local labour exchange 90% of the CVs are from women applying, I don’t know why, maybe the gentlemen are very busy? In any case ladies are more accurate, more precise, and maybe they are simply better with their hands at this type of work. There are a couple of guys also operating at the same level. All are trained locally, as our production is quite specific. In 2008, around 3000 staff from the Asian company Yazaki (also operating in Klaipeda Free Zone) were fired, so we were able to employ some of them and take advantage of their existing skills. But every single operator or line leader has to be trained locally by us.

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N C E N TI VE

Think about your business location

David McMillan, CEO, AVIVA Europe speaks at the British Chamber of Commerce event in March BCC Members at the “Speaker” meeting with David McMillan, CEO, AVIVA Europe. In the first row: Asta Grabinske, CEO, AVIVA Lietuva and Chris Butler, CITCO, Chairman BCC

Photos by Jurga Prakapaitė

What distinguished your financial products when you first arrived in Lithuania?

Why has Albright International decided to open their factory in the Klaipeda Free Economic Zone (FEZ)? Can you give three main reasons?

We are dedicating a part of our social activities for the education of financial matters in Lithuania, trying to develop common understanding that our financial future is on our hands only.

Lithuania has the largest population in the Baltic States. Moreover, the penetration of long-term savings and investment in our country is still quite low by Western standards, even 12 years since we started.

Last but not least – our country is near Poland where Aviva has been successfully operating for over 20 years. We adopted their experience and obtained some very useful business infrastructure information at the beginning of our business here in 2001.

British Investment in Klaipėda - Albright Lietuva

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We are following up all business tendencies and looking at how we can include them into our longterm savings and investment services, customer experience or any other business field. Moreover customers will need to get all the answers in a quick and simple way so we must be ready to do that.

Aviva is the largest insurer in UK and one of Europe‘s leading providers of life and general insurance serving 32 million customers.

Most of these customers are in Englishspeaking countries. Why did Aviva come to Lithuania, which is such a small country, with a relatively undeveloped financial services sector?

In March 2014, the British Chamber of Commerce in Lithuania had a pleasure of inviting members to “Speaker” meeting with David McMillan, CEO, AVIVA Europe, held in Radisson Blu Lietuva Hotel.

In his speech Mr McMillan provided the views on the potential future for 2020 covering the future trends for insurance, savings and investment business, and answered to the questions from the audience. The event was attended by over 40 members of the chamber and representatives of the British business community in Lithuania, including the British Ambassador David Hunt. The discussion was moderated by Chris Butler, Chairman BCC.

Plug and play sites Premises for rent Construction projects management Built to suit 5th FEZ IN THE WORLD WITH BEST FACILITIES www.fez.lt

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First of all, our mother company is twice as big as the Lithuanian unit, so there are more career opportunities, for example in the sales office, in the quality lab and in the purchasing department.

In Lithuania, we are not as big, so there are not so many opportunities. But now we also have something like the British scheme. We have a “young production engineer”, who was taken on board half a year ago, in his last year studying mechatronics at Klaipeda University. Now he is employed part time and when he has completed his bachelor’s degree he will be taken on full time.

So we will already have a fully trained engineer.

He will make his final project for his bachelor’s degree from our factory, so we are collaborating with the university.

What do you see as the main challenges for your business in Lithuania over the next few years? Will the change to the Euro affect your business much?

It is difficult to say, the market is always fluctuating, output must be increased suddenly, this is the main challenge for us tomorrow and the day after. But I think if we can survive during the economic crisis we can survive the euro, it is not such a big issue for us. As we already mentioned, during the economic crisis, we managed to significantly increase production and the number of our employees, so our future should be good.

Thank you Ramūnas for an interesting conversation and we wish Albright Lithuania growth and prosperity.

Prepared by Helene Ryding, BCC Social Member

BCC paper issue No 47

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BCC paper issue No 47

“British Investment in Lithuania: present and future”

“British Investment in Lithuania: present and future”

Lithuania in the eyes of Barclays: talented people, excellent infrastructure and a politically stable environment < continued from page 1

< continued from page 1

First tell us about Barclays Bank, because Lithuanians may not have heard of it, even though it is a very familiar name to British people

Talent – the largest resource

Barclays is a financial services company founded more than 300 years ago in Great Britain. Today, our company operates in over 50 countries, employing approximately 140,000 people and serving 48 million customers and clients worldwide. The main business lines are personal banking, credit cards, corporate and investment banking, as well as wealth and investment management.

Businesses all over the world are finding it increasingly difficult to attract talent; however, British companies operating in Lithuania are continually impressed by the competencies, drive and energy of the educated and multi lingual employees they find in Lithuania. As much as 93% of the Lithuanian population has secondary or higher education, and 47% of people aged 24–29 have university diplomas, mostly in the fields of Business Administration, Social Science or IT. Furthermore, 92% of the country’s population speak at least one foreign language, with more than 50% speaking two.

Why does Barclays Bank have this many Technology Centres and how did Lithuania come to be home to one? How does it compare to the others?

The bank needs to serve clients across the world. Therefore it utilizes economy of scale by creating large centers, and pays attention to time differences in order to have a 24 / 7 “follow the sun" model. Lithuania is perfectly fit for the requirements, most importantly offering access to talented people, the right time zone, excellent infrastructure, a politically stable environment and good balance between price and performance.

Lithuania is not the place that first comes to mind when it comes to IT engineers in the Baltic States. Estonia has brought in Skype, e-government, while hosting the NATO Cooperative Cyber Defence Centre of Excellence. So what are the advantages of Lithuania?

Most big companies are afraid to invest in countries as small as Lithuania. Eventually they end up in saturated markets, as in the Czech Republic and Poland. However, Lithuania is just the right size to attract brave companies, willing to make an investment. Then they come to appreciate the benefits of tapping into a very well educated market full of quick learners.

Often, IT specialists want to emulate Bill Gates or Google by making a fortune with a start up in a garage. How do they adapt to working in a big company with rules and regulations?

Creativity can and should be applied everywhere.

It is only a myth that large enterprises curb creativity. I would say the opposite is true. Startups in the early development stage often lack resources and infrastructure to experiment. Their freedom is restricted due to a limited access to funds, which makes them focus on guaranteed return on investment. At the same time they are being forced into one narrow area of expertise.

As you can see, there are pros and cons. Still, I only see good things in learning how professional processes helps to boost productivity. Our professionals also share this type of knowledge with start-ups to help them grow.

Tell us something about the work you have done in cooperation with Lithuanian universities?

Vilnius University students, interested in expanding their know-how in the field of iOS mobile app development, are welcome to the on-campus lab innovation Space. Here they can practice mobile app development for Apple smartphones.

BTCL and the Cisco Networks Academy provide students of the Vilnius University Faculty of Mathematics and Informatics with the possibility of graduating with two diplomas – a universityawarded diploma with a world-recognized Cisco CCNP (Cisco Certified Network Professional) certification.

Having introduced labs, certification and practical curricula for professionals in networks, then iOS developers at the Mainframe academy, we are now opening the next chapter of cooperation – we go to schools to raise the professional awareness of the students to help them make an informed decision when choosing the right study programme. Our investments into university infrastructure and technologies enable students to meet the requirements of today’s and tomorrow’s IT market. BTCL organizes open days that enable students to see and feel

British investment in Lithuania is based on trust

Photo by Paulius Navickas

“Lithuania is perfectly fit for the requirements, most importantly offering access to talented people, the right time zone, excellent infrastructure, a politically stable environment and good balance between price and performance.”

Discover Premium Economy class 40% more space at competitive fares.

the work environment at BTCL; our specialists are regularly invited to Lithuanian universities as guest lecturers.

What sort of careers do you provide at the Technology Centre? Is it just for people who are good at programming? The IT industry is a global industry now. What are you doing to retain your employees after they become fully trained professionals?

At Barclays we are really lucky in terms of being able to offer numerous potential career paths for our people as our organization is very large.

We have different teams for every IT discipline with different competencies required: from skills needed for the first job to 10 or more years competence. Thanks to this we are can offer opportunities for nearly everybody who has achieved all they can in their current role. This is a pleasant problem to have, as 30% of the available vacancies get filled internally, so people have an opportunity to advance their careers without any need to move to another company.

Comfort and peace

Priority services at the airport

Travel in a fixed-shell seat giving you 40% more space than in Economy class. The ergonomically-designed seat has a wide seat pan with extra comfortable, wide armrests. The seat-back reclines inside the rigid shell to protect everyone’s privacy.

Enjoy your own 10.4 inch (26.4 cm) video screen, noise -reducing headset, large tray table, a power out-let and an adjustable reading lamp.

To save time, you have special access to priority check-in desks and priority baggage claim upon arrival. You can check up to 2 bags weighing 23 kg each in the baggage hold, and bring a carry-on and a personal accessory bag on board.

Competitive fares on all your trips Air France is setting new standards in value for money, by offering a range of attractive fares tailored to your business or leisure travel requirements. When travelling in Premium Economy class, you earn 25% more Flying Blue Miles.

What will the Human Resources Centre do, and what sort of new jobs can people look forward to? Are there other developments planned?

Our new global HR service centre is one of two Barclays global centres, providing HR services. It is tasked with coordinating employee training, data management and administration. The number of HR Centre employees is expected to increase by up to 80. In the near future, we plan the successful delivery of training administration services, which we started working on in March, as well as extending our services into new domains, while broadening our geographical reach at the same time.

Can we expect other Technology Centres from other international banks to appear?

The majority of international banks operating in Lithuania already have sizable operations in IT, serving their mother companies from Lithuania. Is there another big brave company to come? Let’s wait and see and this is an opportunity for us, not a threat.

Prepared by Helene Ryding, BCC Social Member

Travel to Paris and the rest of the world

Varied menus For starters, we offer complimentary champagne with appetizers followed by a choice of 2 hot dishes *.

On board longer flights, enjoy a self-service buffet of cookies and crackers, fresh products, mini-sand wiches, and ice-cream. * Except for certain destinations.

Take advantage of the Parisian lifestyle during a delightful stop-over before flying away to one of our 1000 destinations with our SkyTeam partners. It’s a great chance to visit Paris where romantic strolls take you to the fashion shops and museums, beautiful parks and gourmet restaurants.

All the services described are available on long-haul

flights.

This large pool of talented employees explains the fact that the expansion of British service centres in Lithuania has exceeded the expectations of the investors themselves. The most impressive to date is the expansion of Barclays IT Centre in Vilnius. The UK-based global bank entered the Lithuanian market in 2009 with an initial plan to employ 250 IT specialists in three years. However, by the end of 2013 that figure already stood at 700 and now exceeds 1,200. In addition, at the beginning of this year, Barclays launched a human resource centre in Vilnius with the intention of creating 80 jobs. On average, Barclays hire one new employee per day, and crucially say they see no reason to stop.

So, our competencies and skills are Lithuania’s greatest resource. Throughout Europe there is a shortage of skilled, focused and motivated professionals. Often one of the first questions a newly arrived investor will ask is will they be able to find a sufficient number of high-level employees.

Currently, there are about 160,000 young people studying at the country’s universities and colleges; every year, 42,000 new graduates of universities and colleges arrive on the labour market as well as 7,000 graduates from vocational schools.

Annually, there are 14,000 new finance specialists, 1,700 IT specialists and 12,000 graduates able to work in the field of human resources. At the moment, there are about 8,000 human resource professionals looking for jobs. Of these, 1,500 have work experience, almost half have Master’s degree, and three quarters speak excellent English.

Lithuania is also Europe’s leader in terms of the proportion of students in STEM disciplines (science, technology, engineering, and math). Investors joke that whatever skilled professionals they require, in Lithuania they can get them immediately, and at a competitive salary.

However, the rapidly expanding market here will need even more top-level professionals in the future. Consequently, investors are working closely with the country’s universities, by suggesting study programmes and offering internships.

For instance, the British CallCredit Information Group, in association with Barclays and other investors in the same field, has already contributed to the updating of almost one fifth of all study programmes at the Informatics Department at Vilnius University. Through its programmes, Barclays alone works with 200–400 students and conducts e-lessons for 5,000 Lithuanian school pupils every year. Through this collaboration, the service centre sector is rapidly growing, and will be able to sustain its strong growth well into the future.

More opportunities to use So far, British investment in research and development has been steady, if not spectacular.

In 2012, EUR 11 million were invested in this field, making it one of the less popular sectors for British investment in Lithuania. This could be due to the fact that companies in this sector are often acquired rather than started up as greenfield investments.

However, the success stories of companies which have invested show that the life sciences

and higher technology sectors could constitute attractive new fields for investment. For example, Intersurgical, a manufacturer of medical devices for respiratory support operating in Lithuania since 1996, plans to expand its R&D operations in the near future. By 2015, the company, which exports its products to more than 100 countries, will have expanded its manufacturing facilities as well as its laboratory, where it will improve and test more than 1,000 of its life-supporting products. Presently, 1,500 of the company’s 2,000 employees work in Lithuania, however this number will grow with the expansion of the research division.

The UK has a strong cluster of life sciences businesses, which can successfully utilise the highlevel competences and research infrastructure of Lithuania. Furthermore, Lithuanian professionals have experience and expertise in mechanical and electronic engineering, which opens up new opportunities for improving precision-requiring components as well as complex equipment. In this area alone, British businesses can find a lot of ways to use the potential of Lithuania.

Investment starts with trust British investors are always careful, assessing the possibilities thoroughly and often consider the experiences of British companies already established in Lithuania. This is where trust is of the utmost importance. Invest Lithuania cooperates closely with embassies, chambers of commerce and entrepreneurs already working in the country. They are the first, and best, ambassadors in Lithuania for attracting investment from Great Britain.

Invest Lithuania seeks to become a one-stop shop for investors. Starting with the first contact, we strive to provide analysis of the business and investment environment, and to familiarise investors with companies already operating in the country, as well as to be a reliable business partner at each step. This means we do everything we can to answer questions and solve problems as they arise, whether it is the need to train people quickly or to deliver the necessary documents on time.

We help businesses to get things done and succeed as soon as possible.

Realising that it is important for new investors to find partners they can trust, we are creating a business community. This means that we pay a lot of attention to our after-investment service – we maintain ongoing relationships with chambers of commerce, embassies and investors already working in Lithuania, ask about the problems they experience and search for the ways to solve them.

As an intermediary between the authorities and businesses, we can offer the fastest solution and together with the talented Lithuanian work force, we can help British business achieve an amazing pace of growth.

Invest Lithuania is a Lithuanian government agency that provides free advice and introductions to on the ground experts for global companies interested in doing business in Lithuania. The agency serves as a point of contact for foreign companies, and guides international businesses through every step of the process of setting up operations in Lithuania. Invest Lithuania also provides information on Lithuania's highly-skilled yet cost-competitive labor force, tax incentives, and financing options. The agency has worked with numerous well-known global companies that have taken advantage of Lithuania's many incentives to expand their businesses by placing some aspects of their operations in Lithuania.

7

A decade of growth looming large for Camira Fabrics in Ariogala

< continued from page 1

Camira Fabrics team at QBP with Nick Brown, Camira Group finance director (the 2nd from left) and Alan Williams, company operations director (last in the row)

Lithuania already grows flax for textiles. Will Can you say who some of your global customers are and why they choose fabrics you start to grow crops in Lithuania to produce new materials like the hemp and nettles you from Lithuania? are growing in the UK? Our key markets are in mass transportation and We currently have long term agreements in place commercial interiors. In the transportation sector with farmers in the UK to grow these crops so there where all fabric is manufactured in Lithuania, we are no plans at present to change the location. In supply fabrics which ultimately end up on the addition, Camira own a woolen spinning plant in seats of national rail systems in countries such as the UK where we combine the wool and fibers Switzerland, UK. Our customers chose the Camira together, so it makes logistical sense to keep the product as it is known for its quality, repeatability crops close to where the yarn is made and durability whilst also representing value for

money.

How does the local community of Ariogala

view your company?

When you started the business in Lithuania, were there some unexpected difficulties? Or UAB Camira Fabrics plays an active role in the some pleasant surprises? life of local community. The people in Ariogala have very positive opinion about our company as We built our manufacturing facility in Ariogala an employer. We sponsor local school & Ariogala almost from scratch so our initial experiences community via a number of selected projects. were those usually encountered in a new build,

but bearing in mind we had little experience or Prepared by Helene Ryding, BCC Social member understanding of the country and its cultures, we had minimal issues. One thing that did catch us out was the severity of the winters – in the first year of the build project we had to down tools for a few months because the ground was too hard.

Once our facility was complete we found the hiring of staff to be relatively easy and since 2006 we have increased our headcount from around 25 to 225. Because there was little textile experience in the region, we have had to train virtually all of our staff and although this has been a logistical challenge we have found that there has been a really positive attitude towards change and we have been very pleased with the work ethic since we first started to manufacture.

As you know, many young Lithuanians have left to work in the UK, because there are no opportunities for them to work in Lithuania.

How do you see your business in Lithuania in the future? Will you expand? How will you develop your work force? Will there be scope for industrial designers to work in Lithuania?

We have continued to expand over the 8 years that we have been operating in Lithuania and in the months leading up to Christmas 2013, we relocated our remaining transport business to Ariogala which required us to take on additional space. We are now the largest employer in Ariogala and following our recent expansion, it has proved more difficult to fill all the new jobs from the locality which has meant that we have needed to go further afield. We have the space to further expand our factory footprint and we will consider this in the future. We are always keen to develop our workforce and recently this has been in the form of multiskilling. All of our design work is currently carried out in the UK and although there are no specific plans for relocating this department to Lithuania at present, we would not necessarily rule this out in the longer term Your website says that for your firm, sustainability is very important. Can you explain how you practice that in Lithuania?

We adopt the same policy and strategy in all of our manufacturing locations. We use the same sustainable raw materials and processing techniques. At our site in Ariogala we have gained ISO 14001 accreditation, we recycle in excess of 90% of our waste and invest energy efficiency, both in machinery and building construction.

Another facet of sustainability is investing in people such that the business develop technical people and managers of the future. We invest in training for many of our employees at the Lithuanian site.

BCC paper issue No 47

8

BCC paper issue No 47

Chronicle of BCC Events

9

Chronicle of BCC Events

15th Burns Night in Vilnius raises a record amount for the charities

On April 3rd, the British Chamber of Commerce held its 15th Annual General Meeting (AGM) in Novotel Vilnius Centre.

As this year, there were no Elections to the Board, BCC members were presented with Annual Activities and Financial Reports for 2013. After presentations the Chairman, Executive and Board members answered to questions from the BCC members. The discussion was followed by approval of the Annual reports for 2013 and ended up with prize draw to win a weekend in London for 2, won by Ana Maizel, Kempinski Cathedral Square Hotel, Vilnius. Congratulations!

Roderick F. Tuck charity Foundation with a symbolic Burns Night donation cheque

Chris Butler, CITCO, Chairman BCC, presenting Financial Reports 2013

On January 25th 2014, the British Chamber of Commerce in Lithuania held its 15th Annual, Traditional Burns Night, Charity Event to celebrate the birthday of Scotland’s national poet, Robert Burns (1759 – 1796) and to raise funds for the local charities. The charity raffle this year raised a record amount 22,000 LTL (6.372 EUR), shared by Roderick F. Tuck Foundation and Pranas Daunys School for the blind and visually impaired in Kaunas.

Traditionally, the AGM was followed by a Keynote Speaker and Business Reception. This year the chamber was pleased to welcome Peteris Strautinš , Macro analyst at DNB Bank (Latvia), who made a presentation “The Euro in Latvia. What Lithuania can learn from its neighbour’s experience”, and answered to questions from the audience. The keynote speech was followed by a short ceremony of Burns Night’14 charitable donations to Roderick Tuck charity Foundation and Pranas Daunys School for the blind and visually impaired. Before inviting members and guests to enjoy the AGM Reception, a short performance by young talented accordion players from Roderick Tuck Foundation closing the official part of the event and was thoroughly enjoyed by the audience.

From left to right Ben Harvey, Growing Talent and Pranas Daunys School for the blind and visually impaired representatives with a symbolic Burns Night donation cheque

The chamber would like to express its gratitude to the sponsors listed below, for their input into the 15th AGM & Business Reception.

Chamber guests during the keynote speech

In keeping with tradition, the 15th annual Burns Night was held in Vilnius City Hall. The event was attended by 250 guests from different countries including, naturally, Scotland, England and Lithuania.

The Keynote speaker Peteris Strautinš , Macro analyst at DNB Bank (Latvia)

Rasa Barisiene, Carlson Wagonlit Travel and Arūnas Skuja, FINNAIR

As appropriate, the main Burns Night in the Town Hall was celebrated in a true Scottish manner and had most of the essentials necessary for a successful event. The haggis was ceremonially piped in by Iain MacPhee. Address to a Haggis” was recited by Gordon Ross, the “Toast to the Lassies” and “Reply from the Lassies” were delivered by Nick Price and Annabel Gaywood. After Burns Supper, the guests were invited to enjoy ceilidh dancing led by “The Midgies”, which was a great success.

After the midnight the party continued in Porto Bello British Pub.

Ana Maizel, Kempinski Cathedral Square Hotel, the winner of “Weekend in London” prize

BCC team Sandra & Jurga and volunteers Viktorija & Tadas (in the middle)

The Chamber expresses enormous thanks to all sponsors and supporters!

Photos by Tomas Dėmenis

STYLISH AND MODERN SHOPPING CENTRE

Alina Jovaišienė, Senior Consultant, Deloitte Lietuva

BCC Breakfast Technical Briefings continued to be a great success in 2014 first quarter and kept a high level of interest from chamber members and friends alike. In January, the topic “Recent Changes in tax legislation: risks and opportunities” was presented by Alina Jovaišienė, Senior Consultant at Tax and Legal Department at Deloitte Lietuva. In her presentation the speaker outlined the most significant changes, which are related to the abolishment of exemptions for individuals in respect of income from the

In February, the updates on tax issues were also presented in Klaipėda, where BCC held its 2nd Breakfast Technical Briefing. After an excellent breakfast at Radisson Blu Hotel in Klaipėda, over 20 participants were invited to take their seats and hear presentation “Lithuanian tax environment and tax changes”, which was delivered by Vita Šumskaitė and Lina Masiulionytė, Tax advisers at KPMG Lithuania. After presentation both speakers took questions from the audience. The discussion was followed by more networking near morning coffee.

BEAUTY SALONS SPORT CLUB

GOURMET SHOPS

FAMILY ENTERTAINMENT CENTRE X-PLANET

MULTIKINO MORE THAN 200 STORES

Breakfast Technical Briefings sale of shares and interest income. The seminar also co-vered practical aspects, risks and new opportunities for businesses resulting from corporate income tax amendments from 1st January 2014. The topic attracted an interest from members and involved considerable amount of audience interaction after presentation.

24 RESTAURANTS AND CAFES

Emilė Kazlauskaitė, Accociate, LAWIN

Another Breakfast Technical Briefing in February was held in Vilnius Shakespeare Hotel and hosted Emilė Kazlauskaitė, an accociate at LAWIN, who made a presentation “Lithuanian Immigration Rules – what’s new?”. The topic mainly focused on such issues as Lithuanian immigration policy streams (are we welcoming investors from non-EU?), what are new statutory rules to facilitate formalities for high-qualified employees within the same group of companies, including some good news on less complicated procedures now apply for the residence permits.

Vilija Malinauskaitė, Head of events & meetings department, West Express

In March, the chamber had a pleasure of inviting members and friends to attend Breakfast Technical Briefing with Vilija Malinauskaitė, Head of events & meetings department at West Express, who made a presentation “World tourism market: does Lithuania invest?”. The presentation covered the latest statistics on the world travel business, touched the importance of the destination image and initiated a joint discussion about Lithuania, its image in the neighbourhood countries, what good examples can be taken from other countries in order to promote Lithuania more effectively. As usually, before presentation and the discussion, the participants enjoyed excellent English breakfast, and afterwards stayed for more networking and discussion near coffee at the Shakespeare Hotel.

From left to right: Linas Stankus, Tauragė Industrial Park, Laura Lesčinskienė, UKTI, British Embassy & Toma Vevelstad, Amber Staff

Over 80 chamber members and additional guests listening to the Keynote speaker

Photos by Jurga Prakapaitė

Chris Butler, the chairman of the British Chamber of Commerce and MC of this event is pleased that even after fifteen years Burns Night remains extremely popular in Vilnius and that guests are willing to support the Chambers’ annual fund-raising initiative: “It is hardly an exaggeration to say that the event has become a fixture not only of the British Chamber of Commerce calendar, but of the Vilnius business and diplomatic communities as well. Not only that, but the event has become the main vehicle through which the members and guests of the British Chamber raise funds for good charitable causes. Over the 15 years we have helped 17 different charities ranging from orphanage homes and cancer charities to addiction centres and help-lines. In total more than 160.000 LTL (46.340 EUR) has been raised.”

This year Guests at Burns Night were entertained by “The Midgies” traditional music band from Scotland, making their 2nd performance in Lithuania.

BCC paper issue No 47

BCC paper issue No 47

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11 Brits in Lithuania

Interview with Fay James, Portrait artist and climber, living in Kaunas

I had a preconception that everyone would be very cold because you don’t smile much. I even read a book by a foreigner living in Lithuania who said if you smile a lot in Lithuania people won’t trust you, or will think that you have a mental illness! Despite the lack of smiling I have found the people to be incredibly open and generous.

Much more so than in Britain. Every time I have visited my boyfriends grandmothers she has not stopped feeding me and has tried to give me all of her possessions!

You paint terrific portraits! What inspires you most?

I’ve always loved people’s faces and am fascinated about capturing what gives each person their unique expression. I love portrait painting because when it comes down to the final details it is so precise. A speck of paint in the wrong place can totally change a persons expression. You have to really study a persons face and character to get it right so it is a real challenge compared to painting anything else.

But it is then also immensely rewarding when you truly capture not just a persons likeness, but their very essence in a piece of art that is going to be cherished for generations.

Fay, could you please introduce yourself – what is your background and what brought you to Lithuania?

Hi! I am a portrait artist from Great Britain. I came to Lithuania last July with my boyfriend who is Lithuanian. It was my second visit here as I had come the year before and done a weeks kayak expedition and a week in Nida. This time I was meant to come for a 2 month holiday but loved it so much that me and my boyfriend decided to stay and live here. We haven’t put a time scale on it and so take each day by day but I can’t see myself leaving for another year at least. I initially wanted to stay longer to experience the minus 30 degree winter. As this winter was so short and only down

to minus 20 I feel I have been a bit cheated and so must stay for another!

What was your first impression when you came to Lithuania and has it changed since?

I was totally amazed by how safe and sophisticated Lithuania is. My boyfriend last lived here 5 years ago and told me stories about how much crime there was and how it was full of gangsters in track-suits. He was totally surprised by how much it has changed in just a few years, and I was more than pleasantly surprised that it did not live up to his memories. I have found it to be very safe and also incredibly stylish. I think it could teach London a thing or two.

What do you find most challenging with your work here?

So far I have not met any artists who specialize in portraiture in Lithuania, compared to in the UK where it is a well-established tradition. Therefore it has been challenging introducing the idea to people to have their portrait painted. I am really hoping to paint your current president.

Coming from Britain I understand the vital importance of women in power with Margaret Thatcher being the 6th female Prime Minster in the world. Public portraiture honouring political figures is an important tradition in Great Britain as they document the countries journey and have character that will transcend its time. I hope painting a portrait of your President and other key figures might also help establish a tradition to help preserve their positions, and thus the countries history in public memory. So watch this space...

What does your leisure time look like? Have you developed any new hobbies here?

My hobby is rock climbing which I have been doing for 9 years and which fortunately I have been able to continue in Lithuania despite there being no rocks to climb. There are a few small climbing gyms which I am able to train at, and

Raidla Lejins & Norcous - Baltic Legal Adviser of The Year 2013 Raidla Lejins & Norcous once again beats notable competitors to win the most prestigious award for the M&A advisory community. For the second time, law offices were named ‘Baltic Legal Adviser of the Year 2013’ at the seventh The Financial Times / Mergermarket awards ceremony on December, recognising excellence in corporate, private equity, banking and M&A legal expertise.

Law Firm of the Year 2013 Award from Chambers Europe, the world’s leading legal directory.

2013 has been a special year for Raidla Lejins & Norcous: in April, the law offices received the Baltic

‘We want to express our special thanks to our clients and partners for placing trust in us. When

they are really enthusiastic at organizing climbing competitions to keep you motivated when there is no opportunity to climb outdoors. The standard of climbers is surprisingly high in Lithuania considering it is such a big sport and I think they will soon be doing very well internationally. So far I have been travelling competing in different climbing gyms so it has given me the opportunity to see new cities and even neighbouring countries as I have just returned from a competition in Riga.

The climbing community is quite small so it is really easy to make friends and wherever I am climbing outside in the world I always bump into people I know at the rocks. Rock climbing gyms are quite new in Lithuania compared to the UK where we have a long tradition of climbing, so it is great to be here at the beginning of it getting popular. I would recommend it as a sport to anyone because each climbing route is like a problem you have to solve both mentally and physically in order to get the top, plus it is really sociable as there is always someone to share ideas with.

Do you travel around Lithuania and if so, what are your favorite places?

My favourite city in Lithuania is Kaunas because it has a crumbling charm, that I have not found anywhere else. I really love the beauty of the abandoned buildings, especially in the old town where I live. Everyday I walk around feeling like I am on a film set. I love Nida and the amazing long and deserted beaches. I took my parents there when they came to visit and we walked for miles looking for amber. But most of all I love your forests and lakes. My favourite times in Lithuania have been when kayaking and camping. You are really lucky to have so much unspoilt wilderness and I’m really pleased to see that all generations, including the younger ones have a huge respect for nature here. So many younger people I have met know which mushrooms and berries you can eat and what herbs can be used for medicines.

This seems to have been really lost in the UK. What do you miss about your home country?

The only thing I miss about my home country are my friends and family. Luckily I have persuaded a lot of them to come and visit me to experience Lithuania. All of them have loved the country and the people and so are planning return trips. So once I have persuaded them all to come and live here I won’t miss a thing!

Prepared by Jurga Prakapaitė, Membership Services Manager at BCC Lithuania

we received this award for the first time in 2011, I remember thinking that this honour was also a commitment for the future to deliver excellence.

The firm has delivered on this promise. Our recognition by Financial Times / Mergermarket, and earlier this year by Chambers Europe, gives us a powerful impetus to move forward,’ says Dr Irmantas Norkus, Managing Partner of Raidla Lejins & Norcous in Lithuania.

The firm’s partners in Estonia, Latvia and Lithuania explain that the Mergermarket / Financial Times award reflects not only leading deal volume, but recognises the outstanding quality and depth of legal advice rendered by the firm’s attorneys.

Raidla Lejins & Norcous team at the awards ceremony

Mergermarket is a world’s leading independent M&A intelligence service and The Mergermarket M&A Awards are the most prestigious annual awards for the M&A advisory community in Europe, the Middle East & Africa.

Thank you for 20 years of trust and cooperation

Kristina Kriščiūnaitė Country Managing Partner This year PwC celebrates the 20th anniversary of its presence in Lithuania.

Our beginning dates back to 1993 when Coopers&Lybrand UAB and Price Waterhouse UAB established their presence in Lithuania. In 1998, the two firms merged to establish PricewaterhouseCoopers UAB that operates under PwC brand. We now have a large business with over 160 professionals generating nearly 27 mil-

lion litas in annual revenues and serving a large and diverse client portfolio comprising some of Lithuania’s top organisations and government institutions. These were significant two decades for us. During this time we have faced some real challenges and some extraordinary successes. We observed the development of young country’s economy and were proud to participate in essential changes related to Lithuania’s accession to the European Union and contribute to the progress.

Our services, staff and skills have grown significantly during this time. We now provide a wide range of services from strategy development to execution. Our professionals with expertise in the fields of assurance, actuarial, accounting, tax, legal, advisory, consulting services and deals e work together with our clients to help create value they’re looking for. My sincere thanks and congratulations to all those who trusted us, valued us and contributed to our sustainable growth. Your trust has helped to build our firm to what it has become today. We believe we will retain our leading position in the market and important role in our clients’ business success.

Accor Accelerates its Expansion in Baltic Countries with the Launch of the Mercure Brand in Lithuania

Mercure, Accor’s brand of midscale hotels with individual styles and personalities, celebrated the opening of its first hotel in Lithuania, the Mercure Marijampole.

The hotel is owned and operated by ARVI under a franchise agreement with Accor group. The hotel is ideally located in Marijampole’s city center.

It has 47 rooms including 8 superior rooms with single bed, 18 superior rooms with a double bed, 20 deluxe rooms and 1 apartment.

Modern conference center consists of 5 conference rooms that can accommodate up to 200 people. The center has an extensive office and audiovisual equipment that includes multimedia beamers, free internet access, screens and a professional sound system. Mercure Marijampole conference center may perfectly accommodate any type of business and social events varying from a professional training course to an exciting banquet for up to 140 people.

It is also perfectly suitable for organizing banquets and special events.

Moreover, hotel’s restaurant is famous for its delicious international cuisine, excellent service and great selection of wines. Its tastefully decorated interior and two spacious terraces ensure a pleasant time during a business lunch or a cozy dinner. The hotel’s Spa Center is the ideal place for relaxation and regeneration for the body and mind.

The Mercure Marijampole is the 3rd Accor hotel in Lithuania. Currently, the group also manages Novotel Vilnius Centre and Ibis Kaunas Centre hotels in the country. The introduction of the Mercure brand of non – standardized hotels will enable to Accor to accelerate its expansion in the Baltic Region.

Mercure is the only midscale hotel brand that combines the strength of an international network of more than 700 hotels worldwide with guaranteed quality standards and the genuine experience of hotels that are all different, rooted in their community and managed by passionate hoteliers.

Equipping young people for life network of business colleagues that you look out for the Award on young people's résumés - and that they should do so too.

There are other ways that you can help us and benefit as well.

John May, Secretary General, The Duke of Edinburgh's International Award Wherever I travel around the world at the moment, I find myself having the same conversation with business leaders. "There's something wrong with the education system”, they tell me. "Young people are leaving school with great academic qualifications, but they're just not ready for the workplace. They don't understand how to work in teams, the importance of punctuality, the need to keep going when life gets tough. They give up too easily."

Those business leaders are right. A first class academic education is essential, but it's only half the story of what a young person needs to equip themselves for life. Not only do they need a good formal education, they need a great nonformal education too. Non-formal education is what goes on outside the classroom - sport and physical recreation, community service, adventurous activity and the development of new skills. Non-formal education helps young people to develop the qualities of perseverance, grit, curiosity, optimism and self-control. Economists might describe these qualities as non-cognitive.

Psychologists might call them ‘personality traits’.

To the rest of us, they’re just known as ‘character’ and the development of character is the business of The Duke of Edinburgh’s International Award.

We help equip young people for life.

The Award provides a framework for schools and youth organisations when planning their non-formal education activities. It asks young people to commit time and effort to activity in each of those four areas of experience: Physical Recreation, Service, Skills and the undertaking of a self-planned Adventurous Journey. Young people choose their own pathway through the framework, building their own individual programmes. In so doing, they discover new things about themselves and develop the skills, behaviours and attitudes needed to be good citizens. When they earn their Award, they receive internationally acclaimed recognition of their achievements, which they can then use to tell their story to prospective employers or universities.

So, as an employer, when you are looking for young people with great academic achievements and character, look for someone who has achieved their Duke of Edinburgh's International Award. And help us to grow by telling your

We can work with you to develop your community engagement and outreach activities. The Award can be used to develop targeted interventions in your key markets to create a lasting social and economic impact. This may focus around working with specific disadvantaged, socially challenged and marginalised groups on a particular area of interest.

We can support your talent management, apprenticeships and staff leadership initiatives.

We can work with you to establish or develop your existing development or apprenticeship programmes for the younger members of your workforce (under 24 years of age). This “Award in Business” opportunity has already been taken up by a number of businesses in the UK, India, Australia and Singapore and has proven to be beneficial at both the individual and business levels.

And we can work with you to create or grow local volunteering opportunities for members of your workforce. There are sound business reasons for engaging in employee volunteering including positive effects on brand value and reputation as well as employee engagement with corporate values.

That conversation about problems with the education system is always the start of doing great things with the business leaders I meet. It was the late Marcus Sieff, when he was chairman of British retailer Marks and Spencer, who coined the saying, "Healthy high streets need healthy back streets." Working with Award benefits the businesses that get involved and as well as the communities that provide their customers and future employees. Equipping young people for life is not just a noble endeavour. It's a business imperative.

The Duke of Edinburgh’s International Award (‘DofE Award’) is open to all 14-24 year regardless of their background. The Award is about personal development not competition with others. It enables young people to learn practical and social skills that are valuable to their life and career development.

It was founded in 1956 by HRH Prince Philip, The Duke of Edinburgh. Since then, 8 million young people in over 140 countries and regions and territories have participated in it. The programme has been available in Lithuania since 1999. More than 300 young people have already gained their Award.

The first National Award Authority in Lithuania has been established in January 2014. New chapter of this inspirational youth scheme in Lithuania is supported by the British Embassy, Ministry of Education, and British Chamber of Commerce.

www.pwc.lt

20 years in Lithuania!

Creating value you’re looking for

• Assurance • Actuarial • Tax • Legal • Accounting • Consulting • Deals

BCC paper issue No 47

BCC paper issue No 47

12 Vytautas Mizaras and Egidijus Baranauskas join LAWIN Partners

Vytautas Mizaras

Egidijus Baranauskas

Two doctors of legal science joined the partners of the law firm LAWIN: Professor Vytautas Mizaras, specialising in civil law and intellectual property law, and Professor Egidijus Baranauskas, expert in civil law. With their long-term experience and academic knowledge in law, these two experts are among the best civil law theoreticians and practitioners in Lithuania.

Mr Mizaras joins the team of the law firm as a new member. He will lead the sub-group for intellectual property, media and privacy. Mr Baranauskas has been working for the firm since 2012 as the head of the team for commercial disputes.

“We decided to strengthen our teams of professionals in these spheres with the goal of ensuring an exclusively high level of service for our clients in Lithuania and abroad. We also believe that with their ideas and professional work these legal experts will contribute to the strategic development of the law firm”, Rolandas Valiūnas, managing partner of LAWIN, states.

Mr Mizaras is a famous lawyer, expert in jurisprudence, attorney, and co-author of various books. He is a professor and head of the Private Law Department of the Faculty of Law of Vilnius University.

“My main areas of practice at LAWIN will be intellectual property and innovations, advertising and product marketing, media, entertainment law, protection against unfair competition, and protection of individual privacy”, he says.

According to Mr Mizaras, the aforementioned areas have become more and more important in business and public life. “As my most immediate goals and challenges, I would name the ensuring the firm’s competitiveness in the aforementioned spheres in other countries and litigation dealing not only with issues that are important for individual clients, but also with conceptual issues having particular legal and social significance”, he states.

The other partner of the firm, Mr Baranauskas, has been the head of the commercial disputes team for more than a year. His work has enormously strengthened the law firm’s service provided to clients in commercial disputes. As he says, becoming a partner of the law firm is an obligation to work with even more ambition, improving the work of the entire team in the sphere of disputes and contributing to the development of the law firm to make it attractive to clients and create added value.

Before joining the law firm, Mr Baranauskas was a judge in the Civil Division of the Supreme Court of Lithuania. Prior to his appointment as a judge, he worked as an attorney at the law firm Baranauskas, Sinkevičius and Partners for more than 10 years. He lectures at the Faculty of Law of Mykolas Romeris University and makes regular presentations at various conferences on transactions, contract law, law on security of obligations, disputes, arbitration, and other topics.

13 Deloitte introduces a new service line in Lithuania

Best Western would like to introduce our new member Liucija Vaišvilaitė.

Liucija has been working at BEST WESTERN Hotel Vilnius for a little over a year now, however she has only been part of the sales team at the hotel for a couple of months. One of her main responsibilities as a sales manager is working with tour agencies. She really enjoys working in tourism because it provides the opportunity to meet and communicate with partners and clients from all over the world. As Liucija says: one the most useful attributes when working in the tourism market is flexibility. You have to be able to find a way to get along with all the different people you meet and provide them with the best services you can.

Motieka & Audzevičius changed its logo

Motieka & Audzevičius have launched a new company logo. “We are a modern and dynamic law firm constantly aiming to change faster than the market does. Thus, for a while now we have felt that it was time for our brand to reflect the changes which have taken place in the company”, the firm’s partner Ramūnas Audzevičius commented.

The refreshed brand primarily represents professionalism, the superior quality of service,

and the high level of comfort and reassurance we provide for our clients. In addition, the new logo conveys the message of our determination to strive for creativity in solving complex problems, to be constantly alert and to react swiftly to sudden changes.

Motieka & Audzevičius is a leading law firm in Lithuania with core practices in Dispute Resolution, Corporate and M&A, Competition/ Antitrust, Regulatory & Governmental, and Tax. The firm’s expertise is recognised by the leading international law directories Legal 500, Chambers Global, Chambers Europe and International Tax Review.

designated runway, in this case one of the university corridors.

Deloitte has started the provision of business processing services (BPS) in Lithuania.

As it was International Women’s Day Terry instructed all the young women to adopt the roles of aeronautical engineers, designers, planners and logistics experts and to “step outside” their field of study of Psychology.

”It is a great opportunity to offer a full package of compliance and business support services to our clients. The scope of services selected by the client may vary from separate areas of accounting to full accounting and statutory compliance or chief financial officer services,” said Jekaterina Jociene, director at Deloitte. ”Our task is to ensure that our clients financial information reaches the relevant users - process owners, management, regulatory institutions and other external users in a timely fashion. We actively advise clients on choosing the most efficient ways to arrange their processes in accounting and reporting,” added Mrs Jociene.

Deloitte business processing services: • • • • • •

full accounting and statutory compliance; preparation and filing of tax returns; preparation of management reporting; preparation of statutory financial reports; payroll processing; process improvement in accounting

• • • •

and finance function; comprehensive advice on the implementation of International Financial Reporting Standards; training on financial reporting and internal control; services related to primary initial public offering (IPO); chief financial officer services.

We strive to make processes less complex and more efficient.

Key contact: Jekaterina Jocienė Director, Deloitte Lietuva, UAB E-mail: jjociene@deloittece.com

New advisory unit established at Leinonen

New faces for the upcoming season As for the hotel it is important to be able to accommodate all the various segments of the tourism market and always leave a fresh and pleasing impression. Therefore, this year before the high season the BEST WESTERN Hotel Vilnius improved its facilities to meet the highest needs of all its guests.

A lot of effort was put in to renovating and improving the aesthetics of the lobby, which is, in our point of view, a so-called “business card” for the hotel, the first impression.

But let us not forget that good rest is one of the main services that a hotel can provided for a guest. It might seem that a hotel which is located just 5 minutes walk from the city centre and about the same distance from one of the main business centres and supermarkets is not a great place for a good nights sleep, but on the contrary, the building offers a pleasing and calming view to the riverside, despite being located to the side of the main road.

To ensure a relaxed and fully satisfying stay at BEST WESTERN Hotel Vilnius we changed some technical features, which might not be immediately apparent but are important; updated wi-fi services, upgraded TVs and an updated air conditioning system in the whole hotel. Stay with people who care.

„BALTIC LEGAL SOLUTIONS LITHUANIA“ Smith Guttridge & Associates – Team Development Workshop at Vilnius University CELEBRATES 15TH ANNIVERSARY

Mažena Birbalienė, Head of the Advisory Unit The Leinonen Group is an accountancy and advisory company whose 13 offices can be found in the capital cities of 11 countries – Finland, Sweden, Norway, Estonia, Latvia, Lithuania, Poland, Bulgaria, Hungary, Russia, and Ukraine. Leinonen Lithuania belongs to the Leinonen Group, and it has been providing high quality accounting, administration, payroll management services to a large base of international companies in the Lithuanian market for almost 20 years in Vilnius, and 3 years in Kaunas.

Today we have over 40 experts, who are taking care of financial details. We believe that the key factor in Leinonen Lithuania's success is our employees.

The implemented management system keeps peo-

ple happy and well trained. We highly appreciate the continuous professional development of each staff member and are proud that our accountants attain high marks in the ACCA organized exams (the ACCA is a global body for professional accountants with 162.000 members and 428.000 students in 173 countries).

Having a wide range of experience in accounting, Leinonen Lithuania along with the other Leinonen Group Baltic offices is expanding its portfolio of services. A new advisory unit was established in 2014 for assisting clients in company establishment and liquidation processes, consulting on labour issues, advising on tax and accounting policies, communicating with tax authorities on behalf of clients, and providing tax and human resource compliance services.

The Baltic offices are the biggest in the Leinonen Group, and work in close mutual cooperation. This provides a great opportunity for foreign investors to receive professional cross-border advisory and accounting services in all three countries from a single service provider.

By being part of the Leinonen Group, serving international companies of all sizes and industries, as well as providing a wide range of accountancy and advisory services in one place, Leinonen Lithuania enhances customer satisfaction and allows them to focus on their core business.

Photo: The production line approach to airplane assembly (Vilnius University students)

On 8 March 2014 Terry Gregory from SG&A ran a short half-day workshop for students at Vilnius University. His colleague Mike Guttridge should have been there also but became ill the day before departure and was unable to make it.

Twenty students attended the workshop (very impressive for a Saturday morning) and were taken through such issues as “what is a team, characteristics of successful teams, benefits and drawbacks of teams” as well as participating in a team project to design, build and test fly ten paper airplanes which had to be landed on a

It was interesting to watch the different approaches the three teams took to the brief. Two adopted a systematic production line approach whilst the other team had a rather more informal, some would say haphazard approach.

After each team flew their first 10 airplanes they then had 10 minutes to design a further 10 ready for a second test flight.

Competition was fierce and it is remarkable how competitive the teams got over flying paper airplanes. Two of the three teams were very well matched and it required a count back to check who had won.

The session concluded with a review of the project: What had they learned? What had they done well? What needed to be improved? & How well did they function as a team?

Camira – we produce fabrics that look good, feel soft and work hard our local community and wider interest groups.

Upskilling and supporting the local economy is a key strand of our ethos.

Therefore, we would like to share one more important fact about UAB “Camira Fabrics”.

„Baltic Legal Solutions Lithuania“ (BLS Lithuania), one of the most experienced business law firms in Lithuania, is celebrating its 15th anniversary.

Founded in 1999, it has grown to become one of the biggest law firms in the country and works with the majority of the TOP 100 largest Lithuanian companies.

“It’s a remarkable date for us, – said Gintautas Bartkus, Managing Partner of BLS Lithuania. “15 years of active practice in the business law market confirms our experience and chosen strategy.

During this period we have been able to grow and expand in a difficult and very competitive market.”

Legal500, leader in the provision of legal market information, highly praise BLS Lithuania's expertise in dispute resolution practice.

"We are proud that we can meet our clients’ needs and help them in developing business strategies that provide them with a competitive advantage," - continued Mr. Bartkus.

BLS Lithuania is a full-service law firm, covering all areas of business law and provides innovative solutions for its clients in public and private law.

BLS Lithuania's lawyers are recognized for their comprehensive legal expertise across all key areas of business for large and medium-sized companies as well as the public sector.

“We care about people, place, product and profit”.

These are just some of the values that makes us tick, along with striving to be the most sustainable in the industry. Our vision is to be the natural choice for fabric solutions worldwide, balancing economic growth with environmental improvement and corporate social responsibility. Sustainability is our ethos, embedded at the heart of our business, with strong policies, the highest international accreditations, wide ranging declarations such as the EU Ecolabel and a long term sustainability plan to deliver continual improvement. Our sustainability strategy is focused on continuing to achieve the highest environmental standards for our operations, products and innovations, engaging with, and acting responsibly towards,

UAB “Camira Fabrics” met all of the criteria: running at a profit for the last four years; sales turnover of 1 000 000 – 138 000 000 litas; growth of about 20 % in at least one of the past 4 years and the timely payment and declaration of tax throughout this period.

The companies were welcomed by Her Excellency President of Lithuania Dalia Grybauskaite, and a number of CEOs from the biggest Lithuanian companies shared their experiences.

We hope that next year we will not only be nominated, but also awarded the prize for being the fastest growing company in our district.

Amber staff turned 2 years old On the 24th of April 2014, Amber staff celebrated it’s second anniversary.

Amber staff is enthusiastic about company results in the first two years. Amber staff increased their brand awareness and was able to acquire a position in the recruitment and temporary staffing field. As a result of this the number of clients in Lithuania and abroad is rapidly growing.

Amber staff would like to thank a lot their valued customers and partners for their trust in Amber staff.

BLS Lithuania is especially proud to have participated in the drafting of the new Civil Code of the Republic of Lithuania, which is the core of our business law, the Code of Civil Procedure and other laws such as the Advocacy Law, Company Law, Law on Energy, Law on Copyright and Related Rights as well as other legislation.

Together with Kronbergs & Čukste in Latvia and Glikman Alvin & Partnerid in Estonia BLS Lithuania is a founding member of Baltic Legal Solutions – the independent Pan-Baltic Association that has one of the largest legal presences, providing integrated legal services, across the Baltic region.

SORAINEN awarded Baltic Law Firm of the Year 2014 by The Lawyer regard we are unique in the market. This means integrated high-quality services for our clients across the region. And this is not just a promise – we are continuously investing our time, effort and money in it,” affirms Laimonas Skibarka, office managing partner of SORAINEN Lithuania.

There was an event held in Raseiniai Town Hall on the 16th of February, 2014 and UAB “Camira Fabrics” won the award for the biggest input into the Raseiniai district budget and active employment. We won the “Golden lynx” trophy which is a symbol of the Raseiniai district. This local award makes our company more attractive as a business unit and employer.

Moreover, we are happy to announce that UAB “Camira Fabrics” was nominated as one of the fastest growing companies in Lithuania. We were invited to participate in Gazele 2013 – The 10th meeting of the fastest growing companies in Lithuania. The event was held in Vilnius on Friday, January 31st.

Gintautas Bartkus, Managing Partner, Advocate

Law firm SORAINEN achieved record growth in Lithuania last year, with its income surging over 20% since 2012, compared with overall growth of about 5–10% in the local market for legal services. In 2013, SORAINEN also enjoyed a 15% increase in its income in the Baltics and Belarus.

As a result of successful growth and participation in landmark regional transactions, on February 20th, The Lawyer, a leading international website, proclaimed SORAINEN winner of the ‘Baltic Law Firm of the Year 2014’ award.

“Our rapid growth is determined by several factors. First of all, we are a fully integrated law firm in the Baltics and Belarus, and in this

Secondly, the firm is actively expanding its team of professionals. Last year alone, the number of lawyers in Lithuania went up by 25%. Over the past year and a half, the firm has been joined by two partners, namely Kęstutis Švirinas, head of the Dispute Resolution Team, and Aušra Mudėnaitė, co-head of the Real Estate and Construction Team. The Lithuanian office currently employs 50 lawyers and tax advisors, with the number of staff including administrative personnel totalling 70.

The Lawyer awards are seen as key awards among the international legal community. Law firms of the year are selected in 25 categories across Europe. The main selection criteria are strategic vision, strong financial performance and growth, consistent excellence in delivery of legal services, outstanding talent management and a robust partnership culture.

BCC paper issue No 47

BCC paper issue No 47

14 Presenting New BCC Members BCC Corporate Member AON Baltic

Aon is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Our key advantage is our broad view of two of the most important issues in our economy today: risk and people.

Through more than 65,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise.

BCC Small Company Member LitCapital Asset Management Aon has been named repeatedly as the world's best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources.

Aon history in Lithuania started in 1994, when the first insurance broker company was established in the market. Since then, Aon has become the leading company in the insurance broker market in Lithuania.

Company contact details: Aon Baltic Address: A. Goštauto g. 40B, Vilnius, LT-01112 Telephone: (370) 5. 252 6000, Fax: (370) 5. 252 6555. http://www.aonbaltic.lt/

BCC Overseas Member Today Translations

Director Jurga Žilinskienė Today Translations was founded by Jurga Zilinskiene, a Kaunas-born woman from humble beginnings but with a sharp mind for business, a passion for languages and a real savvineess about computer programming.

In the 12 years since it’s founding, the firm - an awardwinning, ISO:9001-certified global language services provider with a head office in the City of London - has a client list of FTSE 100 companies, political figures and even royalty, and has received endorsements from the likes of Sir Richard Branson and Prince Philip.

The company comprises of a multilingual in-house team of certified project managers and a worldwide network of over 2,500 highly-experienced and vetted linguists and advisors. By combining professional language services in more than 200 languages with unparalleled expertise in the financial services, legal, media and energy sector, the firm helps clients communicate

effectively on the global stage and reduce operational risks.

Today Translations is proud to have served a number of distinguished clients, including the United Nations, the King Abdullah II of Jordan, Mikhail Gorbachev, Shell International, CNN, Saatchi & Saatchi and Clifford Chance.

Next to language and translation, Today Translations’ advisory network also offers a range of advisory and consultancy services to organisations expanding their commercial scope into new regions. These services include: • cultural consultancy • research and due diligence on foreign markets • advice on procurement and risk reduction • providing accredited security service for linguists • consulting on effective logistical approaches The company is also a pioneer in the development and use of innovative technology to drive quality and efficiency within the language sector, including translation memory and the QCS+ management platform, allowing the firm to be readily adaptable to any conceivable language project, no matter its size or subject matter.

Get in touch with us at info@todaytranslations. com or on +44 (0) 207 397 2770 to discover how Today Translations can help you and your business capitalise on language, minimise risk and prosper in new, exciting markets.

BCC Corporate Member Northway Medical Centre

The team of professionals ensure the best possible treatment and friendly approach. More than 100 employed doctors carry out the necessary examination, provide advice and treatment on the same or the next day.

Northway Medical Centre co-operates with international health and life insurance companies.

Last year Northway, a group of companies, entered the UK healthcare market via the acquisition of a clinic in London named the Baltic Medical Centre.

Company contact details: UAB „Northway medicinos centrai“ Address: S. Žukausko g. 19, Vilnius Tel.: 8 (5) 264 4466 E-mail: info@nmc.lt www.northway.lt

BCC Small Company Member SORPS

SORPS is a brand new innovation to Lithuania specialising in supplying secure web based technologies across all sectors.

Internet placement and being able to communicate with a global audience is crucial in modern day trading where location and potential Client reach should never pose a problem.

SORPS has been brought to Lithuania by Andrew Davies and Kevin Horak. Andrew has over 20 years of top level programming experience behind him and having worked extensively with some of the world’s most wellknown brands. He is qualified in a number of disciplines and is unrivalled in cybertechnolgies and web business strategy.

Kevin is a businessman and entrepreneur with extensive experience across a variety of different businesses from specialist security to music publishing to the fash-

LitCapital Asset Management UAB (LitCapital) is an independent professional private equity fund management company based in Lithuania. LitCapital was founded in 2010 and currently is managing a 25 million euro size growth capital fund Litcapital I KŪB. The fund was established under the JEREMIE initiative in cooperation with European Investment Fund (EIF) and is aimed at investing into expansion of private companies conducting business in Lithuania.

LitCapital I is a EUR 25 million growth capital fund.

Our investment experience in the Baltic States is more than 10 years long. Our team members had made and managed such investments as Sonex (now part of ATEA), Bauhof, Sportland, Talleg, TD Baltic and others. LitCapital I fund was established under the JEREMIE initiative in cooperation with European Investment Fund (EIF) and is aimed at investing into

the expansion of private Lithuanian companies. All our investments are long-term. Fund seeks to achieve rapid value growth of the portfolio companies. At the end of the investment horizon the fund sells the shares and realizes the increase in company's value.

Currently our investment portfolio consists of six companies such as Brolis Semiconductors (diode lasers), Altechna (optical components), NNL LT (third party logistics), Lignoterma (energy generation), Putoksnis (PET packaging). We and our portfolio companies are constantly looking for potential investment opportunities and possible co – operation with local and foreign companies involved in similar businesses.

Company Contact details: UAB „LitCapital Asset Management" Contact person for the Chamber: Šarūnas Šiugžda, Founder, Managing Partner (in the photo) Address: Konstitucijos ave. 7, 14a., LT-09308 Vilnius Tel.: +370 5 205 44 79 E-mail: info@litcapital.lt Web: www.litcapital.lt

BCC Corporate Member West Express

• service of West Express business travel and official business trips is certified according to ISO 9001:2008 standard;

West Express business traveling includes the organisation of business trips, journeys to exhibitions, motivational and team building trips, conferences and seminars in Lithuania and abroad, optimisation of company travel budget, consultation on traveling issues, personalised service 24/7.

West Express leisure traveling covers all the types of traveling services and the best offers for your vacations in Lithuania and foreign countries.

Achievements, news, projects: Key of West Express successful activity lies in high employee qualification, experience and knowledge, application of modern technologies, personalised approach to customer service and continuous process to improve and raise efficiency of service quality: • constant training of employees: the majority of customer service managers have international IATA

Bunnahabhain rep. by Mineraliniai vandenys, UAB Production of single islay malt Scotch Whisky www.bunnahabhain.com

Baltic Legal Solutions Lithuania Full service law firm www.blslawfirm.com

Carlson Wagonlit Travel Corporate travel management www.carlsonwagonlit.lt www.kalevatravel.lt

DNB bankas Banking www.dnb.lt

(International Air Transport Association) and reservation system certifications, product and other specialised training certificates;

Egidijus Vaišvilas general manage. Photo by Judita Grigelytė/“Verslo žinios“

SORPS brings together not just two unique people in business but also people who always meet the very highest technical and quality standards in every project they work on.

Our core business solutions supports Internet technologies at a variety of levels, from entry level web systems designed for search engines through to artificial intelligence software development, image recognition, Cybernetics, Scan2 barcode-based ordering systems and audio/visual solutions to name a few plus revolutionary web based systems for the education sector.

Groundbreaking technologies and pioneering developments that set benchmarks in efficiency, safety and intelligence is what SORPS creates, demonstrates and importantly delivers with complete confidentiality.

Please contact us on 370 5207 78158 in absolute confidence and speak to one of our specialists and we will endeavor to find a solution for you to save you money and importantly increase your profits. Alternatively you can email ask@sorps.eu in English, Lithuanian or Russian.

15

BCC Sponsor Members

GlaxoSmithKline Pharmaceuticals www.gsk.lt

• partnership in the international corporate travel services organisation HRG (Hogg Robinson Group), application of HRG quality standard to business customers; • helpline for business customers operating 24/7; • office in Vilnius International Airport for customer convenience;

PricewaterhouseCoopers Assurance, Actuarial, Advisory, Tax and Legal services www.pwc.com/lt

• travel card granting benefits during trips; • trademark WE Travel means sightseeing and leisure trips organised by a professional team of tourism specialists; • introduction of new technologies: modern search and reservation tools, enabling rapid and effective provision of travel offers.

Contact us: • West Express head office in Vilnius, A. Stulginskio

Strategic Staffing Solutions International Provider of information technology solutions.

Recruitment Services www.strategicstaff.com

BCC PR Partner

St. 5, tel. 1312, e-mail: info@westexpress.lt.

•

West Express Business

travel

organization

department, e-mail: verslokeliones@westexpress.lt.

BCC Accounting Partner

ion and print business. With expertise in working with high level clients from Royalty to A list Celebrities, his background in branding and Client service support is second to none.

SORPS together with BCCL team

Šarūnas Šiugžda, Founder, Managing Partner

West Express is the leading full service travel agency with 16 offices in Lithuania. Agency has more than 20 years of experience in providing and organising professional business and leisure travel services.

Patient safety is the main focus. There are adequate space and facilities, modern medical equipment and instruments in the Centre, which are appropriate to meet the high standards of the needs of the patients. The staff follows the procedures and guidelines for taking care of patients receiving day surgery and all other services.

Northway is one of the largest private medical centres providing comprehensive medical, day surgery and rehabilitation services in Lithuania. It operates in Vilnius and in Kretinga. The Northway Medical Centre is the modern treatment institution controlled by the UK-based company Northway Holdings Limited.

List of BCC Members

BCC Corporate & Group Members

AON (http://www.aonbaltic.lt/) / Risk management, insurance and reinsurance brokerage NEW! ARIJUS (www.arijus.lt ) / Transport and Logistic services AVIS Rent a Car & Leasing Company (Litideal, UAB) (www. avis.lt) / Car rental and leasing AVIVA LIETUVA, Joint Stock Limited Life Insurance and Pension Company (www.aviva.lt) / Life insurance and pension funds ĄŽUOLYNO Clinic (www.azuolynoklinika.lt) / The first private clinic in Lithuania for psychological problems, psychiatric disorders, alcohol and drug addiction treatment, long – term nursing. Patients can be consulted or hospitalised.

BALTIC AMERICAN MEDICAL & SURGICAL CLINIC (www.bak. lt )/ Health Care BALTIC SURVEYS (Baltijos Tyrimai, UAB) (www.gallup.com) / Market research

BANKSERVIS, UAB (www.bankservis.lt) / Bank and office equipment, security products and solutions BARCLAYS Technology Centre Lithuania (http://www. lifeintechnology.co.uk/global-locations/vilnius-lithuania/) / one of strategic IT engineering centres providing support for Barclays business activity worldwide.

GLIMSTEDT (www.glimstedt.lt) / Legal services Best Western HOTEL VILNIUS (Naujasis Vilnius, UAB) (www.vilniushotel.eu) / Centrally located Hotel, restaurant, conference centre, fitness centre, swimming pool and sauna BITĖ LIETUVA, UAB (www.bite.lt) / Telecommunications BIURO PASAULIS, UAB (www.biuropasaulis.lt) (www.elektromedia.lt)/ /Office supplies, printing management and IT solutions BNTP, UAB (www.bntp.lt) / Private equity investment; real estate development and investment; asset management; project management; facilities management.

BRIGHT PURPLE RESOURCING (www.brightpurple.co.uk) / Technology and financial services recruitment specialists British Council (www.britishcouncil.lt) / the United Kingdom’s international organisation for cultural relations and educational opportunities.

CALENBERG Vilnius | STEELCASE (www.calenberg.lt) / International moving/ relocation and dealership of the office furniture- STEELCASE CALLCREDIT OPERATIONS, UAB (www.callcreditgroup.com) / Experts in the fields of credit referencing, marketing services, consumer information, interactive solutions and consultative analytics.

CAMIRA FABRICS Ltd (www.camirafabrics.com) / Contract seating & transportation fabric manufacturer CAMPANILE Vilnius Airport Hotel (http://www.campanile. com/en/hotels/campanile-vilnius-airport) / hotel, European cuisine restaurant „Le Restaurant“, Lounge bar, conference center, modern Camper Parking with state of the art facilities COWI LIETUVA, UAB (www.cowi.lt) / Consulting and engineering services related to building design & engineering, energy, environment, territory planning, topographic survey, hydraulic engineering, technical supervision, water and sewage systems design CORMACK CONSULTANCY BALTIC LT Ltd (www.ccbaltic.eu )/ Business development, export development, market researches, consultancy in investment, innovation, management - Baltic states, UK, Rusia, India, Italy markets CSC Baltic, UAB (www.csc.com/lt) / IT services and outsourcing DELOITTE (www.deloitte.lt) / Audit. Tax & Legal. Consulting.

Financial Advisory. Enterprise Risk Services DELTA MANAGEMENT SOLUTIONS, UAB (www.deltamanagement.lt )/ Recruitment, Executive Search, Temporary Staffing, Employment Services, Personnel Testing & Assessment, Greenfield Staffing Support EKO RIVI, UAB (www.ekorivi.lt) / Consultancy in municipal and environmental infrastructure EUROMONITOR INTERNATIONAL (www.euromonitor.com ) / Provider of strategic market research on countries, consumers and industries EVERSHEDS SALADŽIUS (www.evershedssaladzius.lt) / Legal services G4S Lietuva, UAB (www.g4s.lt) / Security Solutions covering cash handling, guarding, electronic security, system maintenance, installation, courier service.

GrECo JLT Lietuva, UADBB (www.greco.lt ) / Insurance intermediation GUARTIS, AB (www.guarti.lt) / Glass processing & container glass manufacturing HIGHLIFE, UAB / Manufacturing for export timber components for the furniture and construction industries.

HOTEL VANAGUPĖ (Eskom, UAB) (www.vanagupe.lt) / 5* Hotel, Modern Conference centre and luxury GOLDEN Spa centre, gourmet cuisine restaurant L'Ambra Rossa ISM University of Management and Economics (www.ism.lt) / Higher education JURIDICON, Law Firm (www.juridicon.com) / Legal services, tax consulting, corporate services, legal project & risk management. Member of Warwick Legal Network.

KAREN MILLEN (www.karenmillen.com) / retail, women clothing KAUNAS FREE ECONOMIC ZONE MANAGEMENT COMPANY (www.ftz.lt ) / Real estate development Kempinski Hotel Cathedral Square (http://www. kempinski.com/vilnius) / 5 star luxury hotel in Vilnius KERNAVĖS BAJORYNĖ, Conference and Leisure Centre (www.kernavesbajoryne.lt )/ Conferencies, leisure and other activities KLAIPĖDA FREE ECONOMIC ZONE MANAGEMENT COMPANY (www.fez.lt) / Management and development of Klaipėda Free Economic Zone KPMG Baltics, UAB (www.kpmg.lt ) /Audit, Tax, and Advisory services LawIN law firm (www.lawin.com) / LAWIN is a leading and internationally highest ranked business law firm in the Baltics.

LEINONEN, UAB (www.leinonen.eu) / Accounting services LE MERIDIEN VILNIUS & V GOLF CLUB (www. lemeridienvilnius.com) / 5 star Hotel, 8.000m2 Conference Centre, Catering Services, Spa, Fitness Centre, Leisure, PGA design Golf course, Over the water restaurant, Real Estate LLOYD’S (www.lloyds.com) / Insurance and reinsurance MOTIEKA & AUDZEVIČIUS, Law Firm (www.ma-law.lt) / Legal services

NORTHWAY (www.nmc.lt) / Private medical centre NEW! NOVOTEL VILNIUS CENTRE (Hekon, UAB) (www.accor.com) / Hotel services ODONTIKA (www.odontika.com) / Dental surgery PERITUS SPRENDIMAI (www.peritus.lt) / EU funding, Project Management, Public Procurement, Strategic Research, PPP PROVIDENT FINANSAI (www.provident.lt) / Personal credits provider and responsible lender PUBLICUM, UAB (www.publicum.lt) / Public Relations, Public Affairs, Management consulting and training PZU Lietuva, UAB DK (www.pzu.lt ) / Insurance QUANTUM CAPITAL (www.qcapital.eu ) / Investment banking & strategic advisory boutique RADISSON BLU HOTEL LIETUVA (www.radissonblu.com/ lietuvahotel-vilnius)/ Hotel, biggest centre located Conference and Event centre, Riverside restaurant, Skybar, Lobby bar, fitness centre and sauna RADISSON BLU ASTORIJA (www.radissonblu.com/hotelvilnius) / Hotel, French restaurant „Brasserie de Verres en Vers“, Astorija Bar, Meetings & Events center, Catering services, Health club with swimming pool RAIDLA LEJINS & NORCOUS (www.rln.lt) - Legal services in all fields of business law in Lithuania, Latvia, Estonia and Belarus REGUS (www.regus.lt ) / The world leading provider of pioneering workplace solutions, with a large range of products and services from fully equipped offices to professional meeting rooms, business lounges and the largest network of videoconference studios.

SCAENT Baltic, JSC (www.scaent.lt) / Investment Enterprise SCHAGE Real Estate (www.schage.lt) / Real estate development company. Investing in, renting and selling premises for office, residential and commercial use SHAKESPEARE Boutique Hotel (www.shakespeare.lt) / Boutique hotel, Sonnets restaurant, Globe bar, conference halls SORAINEN (www.sorainen.com) / Legal services in all fields of business law in the three Baltic countries and Belarus STOREBRAND BALTIC, UAB (www.storebrand.com ) / Shared service center for Storebrand ASA in Norway and SPP in Sweden. Financial services within life- and health insurance, banking and asset management.

SUE’S INDIAN RAJA (www.suesindianraja.com) / Indian Restaurant SWEDSPAN Girių Bizonas (www.swedspan.lt) / Particle board production TAEM Urbanistai (www.taemgroup.lt) / technical and spatial planning and mobility management TARK GRUNTE SUTKIENE, Law Firm (www.tarkgruntesutkiene. com) / full-service business law firm in the Baltic region and Belarus TRANSCOM Worldwide Vilnius (www.transcom.com) / International provider of outsourced services and solutions in the field of customer contact (client relationship management & credit management). Near shore outsourced services from Lithuania to UK and other European countries.

VARUL, Law firm (www.varul.com ) / Legal services in all fields of business law in Lithuania, Latvia, Estonia and Belarus WESTERN UNION Processing Lithuania UAB (www. westernunion.com) - Financial Services ZABOLIS PARTNERS (www.zabolis.com) / Finance and Real Estate ŽEMAITIJOS PIENAS (www.zpienas.lt/) / Production and sales of milk products WEST EXPRESS (http://www.westexpress.lt/) / Travel agency, providing and organising professional business and leisure travel services NEW!

BCC Small company Members A Hostel ( www.hostelsvilnius.lt) / Accommodation Services AMBER STAFF (www.amberstaff.com) / Temporary staffing and employee leasing ARTAPRO (www.artapro.lt) / Creative property management BCS INTERNATIONAL (www.bcsinternational.net) / The Behaviour Change Specialists, are an international people development organisation, dedicated to the practical use of emotional intelligence to improve individual and team performance.

CRC Consulting (www.crc.lt) / Core consulting areas: Strategy development, Risk management, Project, Program and Portfolio management, Competence management, Marketing and sales DEKONA, Evaldo Darškaus IĮ (www.dekona.lt) / Management Consulting: Operational efficiency, Lean, Six Sigma, process improvement D & T Global - Developer of real eastate NEW! DRUSKOS NAMAI (www.druskosnamai.lt) / Restaurant EUROCONTINENTAL Limited / Textiles FINREDA, UAB (www.finreda.net) / Corporate services provider.

Legal, financial and business consulting & services including translations to Lithuanian and foreign companies GENCS VALTERS, Law Firm (www.gencs.eu ) / full service, general practice international business law firm with offices in Riga, Tallinn and Vilnius focused on tax, litigation, M&A, corporate, immigration, finance and intellectual property law GROWING TALENT (www.growingtalent.eu) / Providing executive coaching, and delivering training for leadership and talent development

LONDON INTERNATIONAL SCHOOL OF LANGUAGES (www. londonisl.com) / Business courses, specialized training for both IELTS and TOEFL university admission exams LitCapital Asset Management (www.litcapital.lt) / independent professional private equity fund management NEW! STRESS REGRESS (www.stressregress.com) / A business partnership dealing with stress issues, including testing, measurement and treatment, and offering advice for a healthier lifestyle including exercise, diet and supplements, among other options MAGISTRAI (www.magistrai.lt) / Translation and interpretation services MARINE FORENSICS Ltd (http://www.marine-forensics.com) / forensic investigations, asset tracing and due diligence RAIMDA Auditas (www.raudit.lt) / Audit SORPS (www.sorps.eu) / International web technologies NEW! TAURAGĖ INDUSTRIAL PARK (www.tip.lt)/ Industrial premises for rent in Southwest Lithuania VILNIUS INTERNATIONAL SCHOOL (www.vischool.lt) / International Baccalaureate World School. Early childhood education, primary and middle school.

VINKLERIS and partners (www.legalconsulting.lt/) / international law firm providing legal advice regarding taxes, company establishment and competition, as well as family and labor law issues OVERSEAS MEMBERS Overseas members Baltic Holidays (www.balticholidays.com) / Tour operator in the UK specializing in Lithuania, Latvia & Estonia TODAY TRANSLATIONS (http://www.todaytranslations.com) / translation, interpreting services NEW! SGandA (Smith Guttridge & Associates) (www.smithguttridge.eu) / Business Psychology & HR Consulting including training/coaching, career management and team and leadership development.

BCC Social Members Andrius Končius Chris Butler Christian Ranft Erika Cisotti Geoffrey Cohn (Life Member) Hugh Miles Thomas OBE, FCA Dr Helene Ryding Jūratė Rusteikaitė – Bakšienė Mark Whittle Mervyn Richardson Ron Sheppard Sigitas Žutautas

BCC Board 2013-2015 Honorary President David Hunt HM Ambassador to Lithuania Chairman Chris Butler BCC Social member Field of interest in the board – Events Algirdas Pekšys SORAINEN Field of interest in the board - Goverment relations, Trade & Investment promotion Alistair Day-Stirrat Odontika, Dental Surgery Field of interest in the board - BCC paper Asta Grabinskė AVIVA Lietuva Field of interest in the board – Government relations Ben Harvey Growing Talent Field of interest in the board – CSR Frank Reul Accor Hotels Field of interest in the board – Events Giedrius Dzekunskas Barclays Technology Centre Field of interest in the board – Trade & Investment Promotion Nick Price Bright Purple Resourcing Field of interest in the board – Trade & Investment promotion, Events Robertas Juodka Law Firm VARUL Field of interest in the board - Trade & Investment promotion, Membership Toma Vevelstad Amber Staff Field of interest in the board – Membership Viktorija Trimbel Quantum Capital Field of interest in the board – Trade & Investment Promotion Observer Ieva Binkauskaitė British Embassy, UK Trade and Investment Section

BCC paper issue No 47

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