Dear Members,

As we enter into the 3rd week of quarantine, we assume that most of you are working remotely and facing the all-in-one combination of office-school-kindergarten as the new reality 😊

We are thinking about all of you and your teams in the times of corona-distress - how are you coping, what are the main challenges are you facing, how can SCCL be useful to you? Now that we can't meet in person, we would be very happy to hear from you - just drop a short note on FB, LinkedIn, e-mail or call us of the phone. Our social media channels are at your use if you would like to share any information with our Member community - let's stay strong and safe together!

We are now focusing on the post-corona/autumn activities and keep close contact with our new partners, the Chamber of Commerce in Uppsala County, who have agreed to host a Business Mission to Uppsala in October 2020. Soon we are about to launch the invitation to join the Mission - so stay tuned!

Our new Board will hold their first virtual meeting on April 1st and discuss both regular issues as well as corona-related topics from Sweden affecting the activities of SCCL. We will then be able to share the latest updates with you.

All the best to you and stay well!

SCCL Office

COVID-19 pandemic has revealed that most of the Lithuanian companies face certain challenges, especially related to ensuring secure technical and communication tools for employees. It is also believed that once COVID-19 period finally ends, remote work will be something that companies are going to apply more proactively. Our Member Fondia Lithuania invites to a webinar on legal requirements for personal data protection and security measures related to remote work. The webinar is in Lithuanian only.

Swedbank has released a quarterly Swedbank Economic Outlook 2020, which covers the latest economic forecasts for the Nordics and the Baltics and the major global economies. According to the chief economist Nerijus Mačiulis at Swedbank Lietuvoje, the GDP growth in Lithuania is expected to contract by 10% in the second quarter of 2020, but will already start rebounding in the second half of this year and should reach the pre-pandemic level at the end of 2022. Find the full report here.

All people of goodwill are encouraged to contribute to a private Healthcare Institutions Charity Fund for combating the coronavirus, established at the initiative of the managing partner Rolandas Valiūnas at Ellex Valiunas together with President Valdas Adamkus, Old Town Rotary Club, Lithuanian companies and businessmen. Money donated to the Fund is targeted to help all Lithuanian healthcare institutions and medical staff and to acquire the required medical means.

1.  Sweden has posted record job loss figures for the month of March. It is also the highest number of job cuts for a single month since records began. If this trend follows the same pattern as during the latest financial crisis, the unemployment rate can reach 10% before the summer. Source
2. 21 CEO of Swedish business companies have written a debate article encouraging the politicians to build a Corona commission that would combine both the measures for minimizing the health effects of the virus outbreak as well as the negative economic impact of this health crisis. Source
   
3. According to UC, Sweden’s leading business and credit reference agency, the number of bankruptcies in the hotel and restaurant industry will increase by 57 percent in March 2020 compared to March 2019. Source
4. The Swedish Minister for Financial Markets and Housing Per Bolund urged the banks to take their social responsibility and refrain from paying the dividends to shareholders under the current circumstances. The Riksbank has previously announced that it will offer financial support to crisis-hit companies by lending up to SEK 500 billion to the banks, which in turn will lend them to the companies. Source
5. Swedish steal industry can be affected as car manufacturers are putting breaks on production. Demand for Swedish steel products is expected to decline as Europe's car and truck manufacturers slow down or stop production, and this will affect the Swedish steel industry. Source
   

Go Vilnius, on behalf of the Emergency Operations Center of Vilnius City Municipality, appeals to everyone who can contribute to the mission of providing Vilnius city hospitals with the inventory and personal protective equipment needed to combat COVID-19 infection. Anyone who can provide funding for the purchase of protective measures and equipment which are urgently required by the medical professionals and/or assist in the purchase of these items is welcome to take contact by e-mail go@vilnius.lt or phone +37068657232.

After an intensive day of working remotely, treat yourself with some refreshments that can be ordered online and delivered directly to your door. SCCL members receive 1 alcohol free Elderflower IPA free-of-charge for purchases above 20 euro. Promo code: Swedish Chamber. Add the promo code in the "note to your order" /"PRIDĖK PASTABĄ PRIE UŽSAKYMO" box.