Foreign Investors in Lithuania Invested Twice as Much as They had Pledged

In 1998-2001, foreign investors into state-owned entities invested EUR 96.8 million or twice the amount they had pledged to invest and the number of jobs they retained exceeded the expected level by 2,500 jobs, according to the report of the State property Fund. The State Property Fund monitored the implementation of 641 privatisation deals signed between 1998 and 2002. Buyers of Lithuanian state-ownned companies had been obliged to retain 16,000 jobs but actually 18,500 jobs were retained. Additional jobs were created at the national gas company Lietuvos Dujos, shipper Lisco Baltic Service and some other companies