“In the recent period, from 2016 to 2023, we lost 20 investments (potential investors – ELTA), where we could not offer a plot or ready infrastructure, but we could have that factory, that customer in Lithuania, because we had nothing to offer, (investors – ELTA ) simply turned around and left,” said Elijus Čivilis, head of “Investuok Lithuania” when presenting the prospects for the development of Lithuania’s economy on Wednesday.
According to the agency’s calculations, Lithuania lost about 1.2 billion due to underdeveloped infrastructure. EUR and 5 thousand potential new jobs.
According to “Invest in Lithuania”, there is currently a shortage of plots larger than 20 ha for potential large investments. Also, companies wishing to develop large-scale production projects miss out on even larger plots with developed infrastructure. As stated, sometimes investors need plots of 70, 100 or 300 hectares.
According to E. Čivilis, politicians should propose changes to the laws in view of Lithuania’s economic situation, seeing a broader picture and providing comprehensive measures.
“The choice of how quickly they (investing companies in Lithuania – ELTA) can start their production process is often critical. And if we develop plots in our LEZ (free economic zones – ELTA), industrial parks, and our proposal that after two years we might make some kind of change of purpose, build a road, maybe introduce some kind of cable, this answer is not suitable”, emphasized E. Čivilis .
Rūtos Skyrienė, head of the Investor Forum Association, emphasized that the development of SEZs is often hindered by the fact that these zones are not created in cities, but outside them.
On Wednesday, “Invest in Lithuania” presented the guidelines for the development of the Lithuanian economy, which, if applied, would allow Lithuania to reach the economic level of the Nordic countries by 2050. For this, according to the agency, the country needs to grow its productivity by about 3.8 percent per year, compared to the current growth rate of about 2 percent.
According to the agency, by 2050 could lead to almost 4 times higher gross domestic product (GDP) growth than if the current productivity growth rates were maintained.
In the assessment of “Invest in Lithuania”, Lithuania could raise the level of productivity by transforming the industry to higher added value, by attracting more investments in advanced production to the regions, by stronger development of the high-tech and green sector.
VŠĮ “Invest in Lithuania” is a non-profit foreign direct investment development agency, the goal of which is to attract international companies to contribute to the creation of new jobs, to increase the competitiveness of the Lithuanian economy, investment attractiveness and the country’s reputation in the world.
Tags: Invest Lithuania due shortcoming Lithuania lost potential investors years
