Grand Duchy of Lithuania also re-established the permanent capital of the Grand Duchy in Vilnius, presumably moving it from Trakai in 1323; some researchers, such as Maciej Stryjkowski, claim that Navahrudak was the capital of the 13th century state. Lithuania was in an ideal position to inherit the western and the southern parts of Kievan Rus'. While almost every other state around it had been plundered or defeated by the Mongols, the hordes stopped at the modern borders of Belarus, and the core territory of the Grand Duchy was left mostly untouched. The weak control of the Mongols over the areas they had conquered
Economy of Lithuania degrees of business, fiscal, and financial freedom. Lithuania is a member of the EU and the WTO, so regulation is relatively transparent and efficient, with foreign and domestic capital subject to the same rules. The financial sector is advanced, regionally integrated, and subject to few intrusive regulations. One of Lithuania's most important reforms was the privatization of state-owned assets. The first stage of privatization was being implemented between 1991 and 1995. Citizens were given investment vouchers worth €3.1 billion in nominal value, which let them participate in assets selling. By October 1995, they were used as follows: 65% for acquisition