“Invest in Lithuania”: Lithuania lost 20 large investors in 7 years – MadeinVilnius.lt

In the last seven years, due to the inability to offer a suitable location and infrastructure, Lithuania lost 20 potential foreign investors who would have invested about 1.2 billion. euros and created 5 thousand of jobs, according to the analysis of the investment promotion agency “Invest in Lithuania”.

“From 2016 to 2023, we lost 20 investments because we could not offer a plot or ready infrastructure. We could have that factory, that client in Lithuania, but we had nothing to offer and he just turned around and left,” Elijus Čivilis, CEO of Invest in Lithuania, told reporters on Wednesday.

Having analyzed the prospects of the country’s economy, “Investuok Lithuania” on Wednesday presented guidelines on how Lithuania can reach the economic level of Northern European countries by 2050.

In them, the agency indicates that Lithuania should develop the infrastructure of plots and buildings needed for production investments, and develop free economic zones. According to “Invest in Lithuania”, the country lacks developed large plots of land – larger than 20 hectares.

“The practice of the last few years shows that large-scale production projects require increasingly large plots with developed infrastructure, sometimes reaching 70-100 hectares or even 300 hectares and more,” the agency says in its analysis.

“Invest in Lithuania” predicts that by 2030, Lithuania will be able to offer investors a total of 1,320 hectares of free plots: two larger than 100 hectares, four of 50-100 ha each, 10 – from 20 to 50 ha, 15 – from 10 to 20 ha and 30 to 10 ha plots.

Author Lukas Juozapaitis