New Klaipėda seaport land lease rules open up sites to foreign investors

Klaipėda Port
Asmeninio albumo nuotr.

Foreign and local investors will get an equal opportunity to lease sites at Lithuania‘s main seaport after rules were changed in response to EU pressure.

The Lithuanian parliament revised the leasing rules for Klaipėda seaport land from 2017, with sites being made available to companies that win a public tender. If the current lessor of the site does not participate or a different company wins, it would have to pay a market price for the properties leased by its predecessor.

The legal amendments were adopted in response to an infringement procedure started by the European Commission (EC).

The EC was not satisfied with the lease rules of the land of the port, envisaging that companies having properties in the port are entitled to extending the land lease contracts indefinitely. EC dismissed the rule as limiting operations of other companies, especially foreign enterprises.

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