Adamkus pushes land ownership for foreigners

May 11, 2000

"The time has come to allow foreign nationals and companies to acquire land of agricultural purpose and slightly change its use, if it is necessary," the president said at a meeting with a German-Lithuanian economic association.

"It is high time to revise Lithuania's tax system, revoke the unnecessary regulation and bring them closer to their Western counterparts. As the president of Lithuania, I have been aiming at it and will continue doing that in the future," said Adamkus.

Following a change in the Lithuanian Constitution several years ago, foreigners were allowed to purchase land for other purposes in the Baltic state.

The president also briefed the participants of the meeting May 8 on the results of a poll of foreign investors. Lithuania ranked sixth in terms of gross investment conditions among 13 Central and Eastern European states. In Adamkus' opinion, the rankings indicate positive changes in Lithuania's business climate.

He spoke highly of the Andrius Kubilius government's disposition to lower the unnecessary administrative barriers in investment procedures.

"I can see good intentions in the government's work in the improvement of business conditions. This work is encouraging, and I am convinced that it will indeed bring positive changes to the business conditions," Adamkus said.

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