Vilnius, the capital of Lithuania, has just received a prestigious award by fDI Intelligence, a specialist division of the Financial Times, for first place in fDI Strategy and second place in the Mid-Size European Cities category of European Cities and Regions of the Future 2022/2023 ranking. However, as a gesture of relentless Lithuanian camaraderie, the city dedicated the award to the war-afflicted Kyiv, the capital of Ukraine.
During the award ceremony which celebrated the most entrepreneurial, financially, and economically advanced cities and was held at the world’s biggest property event MIPIM in Cannes, Remigijus Šimašius, Mayor of Vilnius, took the opportunity to commend Ukraine for its resistance in the war.
“When I was collecting the award, I voiced out a phrase printed on my t-shirt: on behalf of Vilnius, we dedicate this award to Kyiv—the European capital of the future in all aspects,” said Mr. Šimašius.
According to the Mayor, both Vilnius residents and Lithuanian citizens can be rightfully proud of their capital, which is continuously focused on growth, innovative ideas, and solutions, benefiting the residents, investors, scientists, and entrepreneurs.
This year the capital of Lithuania made it to the top 10 in other sub-categories of this group, ranking third in Economic Potential as well as Human Capital and Lifestyle, as opposed to the fifth place last year. It also secured the sixth spot in Business Friendliness.
In the Small European Regions of the Future category, Vilnius was named fifth. The capital also earned the seventh spot in the Economic Potential sub-category, ninth in Human Capital and Lifestyle, tenth in Cost-Effectiveness, and the sixth spot in Business Friendliness.
To participate in said categories, Vilnius submitted an application, which contained pandemic management review, descriptions of current and past investments, sustainability initiatives, and tourism promotion activities. The city also listed biotechnology, ICT/fintech, and laser technology as their three main growth sectors with great potential for inward investment and post-pandemic economic recovery.
Among the projects submitted for specialist assessment was the Open Data portal to make information about the city more easily accessible, the One Giant Outdoor Café initiative, created during the pandemic to help restaurants stay in business, as well as International House Vilnius, a support center for people planning to relocate to the city, Intelligent Energy Lab, a platform dedicated to efficient energy use, The Intelligent City Lungs project, created to analyze air pollution, as well as Hack for Vilnius, an event to promote ideas for the city.
fDi Intelligence produces the European Cities and Regions of the Future rankings every two years in order to distinguish the best locations for business development and investment.