Actualidad

Despite the difficult economic environment in 2011, the company saysit is investing in the future and is hopeful that its performance willimprove this year.Foreign companies have been eager to invest in Lithuania during the global economic downturn, with many moving their IT, accounting andcustomer service units to the country to be able to provide the samequality of service but at a lower cost than other European cities suchas Copenhagen or London.

"This investment increases the number of foreign companies - including Swedbank, SEB, Nielsen & Nielsen and others - that have gained afoothold in Lithuania and have decided to move units that performcentralised functions to our country," said Milda Dargužaitė, ManagingDirector of Invest Lithuania.

These moves, she added, demonstrate theconfidence that foreign companies have in Lithuania's investment environment.The Lithuanian Government has set 2015 as the target for the countryto become North East Europe's centre for business services, and 2020for it to be the leader in innovation in the region.

"With an infrastructure in place and COWI Lietuva management inLithuania, it took us six months to make the decision to establish thecentre. Our positive experience of co-operation with Invest Lithuania,a familiar investment environment, the supply of highly-skilled employees and the country's excellent infrastructure were also keyfactors. Compared with other countries such as India, Brazil andPhilippines, Lithuania is geographically close to the Scandinavian markets with only minor cultural differences," Betina Carlsen, thehead of the COWI Group IT Service Desk Department, said.

Lithuania-based COWI Lietuva UAB is a subsidiary of the Danishengineering consulting company COWI A/S. It has enjoyed goodperformance in Lithuania and is one of the largest engineering,consulting and design companies in the country, offering the widest range of services. An analysis of this year's plans for foreign direct investment (FDI)has found that one in five regional FDI projects will be in the areasof IT, financial services, business services, renewable energy and automotive industries.

According to the Bank of Lithuania, as of December 31, 2011, FDI in Lithuania amounted to LTL 37.2 billion (EURO 10.8 billion), up by 4.5per cent from 2010.FDI per capita averaged LTL 11.615 (EURO 3.364). FDI into Lithuania in2011 amounted to LTL 3.02 billion (EUR 0.87 million) or 2.8 per cent of GDP.COWI A/S is an international group of companies implementing projectsand providing advice in all engineering and related areas. Establishedin Denmark, the company now has representative offices and subsidiaries in many countries around the world including Sweden, theUnited States, Canada, Germany, Belgium, Spain, Norway, Russia,Belarus, Poland, Hungary, Bahrain, Dubai, Oman, Qatar, China,Tanzania, Uganda, the Philippines and India. It employs approximately 6,000 people across the world.