The association Investors’ Forum, uniting the largest and most active investors in the Lithuanian economy, has selected companies, individuals, and organizations whose activities most improved the country’s business environment and investment climate last year. During the awards ceremony held for the fourteenth time, the title of Investor of the Year 2024 was awarded to the company Biotechpharma. The telecommunications company Telia Lietuva was recognized for its socially responsible activities.

The Investors’ Forum association also announced the 2024 Decision for Improving the Business Environment, the Business Journalist of the Year, and the Public Servant of the Year, as well as honoring two teachers of economics and entrepreneurship.

Biotechpharma, a research company in the natural sciences and gene engineering, was recognized as the Investor of the Year for significantly contributing to the breakthrough of life sciences in Lithuania and the development of the biotechnology business ecosystem over more than 20 years, exemplified last year by another successfully completed phase of the largest biotechnology city in Europe, Bio City.

“Professor Vladas Algirdas Bumelis, the head of Biotechpharma, is an example of how powerful a source of ambition and achievement in business can be through science, with a strong character and determination setting a goal for the country to derive 5 percent of its GDP from biotechnology by 2030. Investments aimed at high value-added jobs and modern technologies embody a bold vision for our state and well-being. The biggest priority for the state right now should be to attract as many such investors to Lithuania as possible,” says Rolandas Valiūnas, chairman of the Investors’ Forum board. In 2024, Biotechpharma invested 50 million euros in Lithuania, created 100 new jobs, and opened the first gene therapy center in the Baltic States.

Other nominees for the Investor of the Year 2024 award included the healthcare product manufacturing company Hollister Lietuva and Pon.Bike Lietuva, which opened a bicycle factory in Kėdainiai.

Due to its multifaceted approach to sustainability and numerous implemented initiatives, the telecommunications company Telia Lietuva was recognized as the most responsible company of 2024. Last year, after renewing its mission (“We create connections for all of our exciting, meaningful, and safe lives”), Telia Lietuva aims to demonstrate that a quality connection is not just about technically advanced digital services, but also about inspiring content, sustainable solutions, and courage. This is reflected in commitments such as: all content created by Telia Play having audio description tailored to the needs of visually impaired individuals, as well as science-based environmental goals, a 54 percent reduction in greenhouse gas emissions in operations, and more.

The board of the Investors’ Forum, which awarded the honors, noted that the large telecommunications company faced many challenges in 2024 – a group change program resulted in parting ways with approximately 200 employees. However, those affected were offered special programs (individual career consultations, referrals to potential employers, retraining opportunities). Conditions for remaining employees at Telia were also improved so that everyone feels secure.

The title of Responsible Company of 2024 was also nominated to State Sea Port Authority of Klaipėda and Northway Medical Centers.

Investor decision-making for the best solution for improving the business environment in the past year highlighted legislative amendments initiated by the Ministry of Economy and Innovation, relevant to Lithuania’s defense and security industry, which eliminated excessive requirements for the sector’s development and reduced limitations on arms manufacturing. Investors also view the ministry’s initiative to simplify procedures related to spatial planning, land formation, and construction for large projects aimed at urgent state security and defense needs as a progressive step – these processes have been shortened to six months. Additionally, restrictions for businesses to operate in the defense sector in Lithuania’s Free Economic Zones have been lifted.

“Business understands the importance of security for its future and that of the entire state. Thus, government decisions enabling businesses to direct resources into the defense sector, which is currently a clear priority, show that we can move forward together and create synergy in addressing common problems,” says Rūta Skyrienė, executive director of the Investors’ Forum.

During the award ceremony, investors also announced the Public Servant of the Year for 2024. The title was awarded to Elijus Čivilis, the head of the agency Invest in Lithuania. The association highlighted his strategic approach and ongoing efforts to ensure Lithuania’s investment attractiveness in a global context, while also promoting sustainable job creation throughout the country by encouraging the development of high value-added sectors and opening doors for strategic investors.

In 2024, Business Journalist of the Year was awarded to Dalius Simėnas from Verslo žinios, who consistently examines public finance management, investment trends, and macroeconomics in his articles. By analyzing the business environment, the journalist skillfully reveals risks associated with tax reforms and the threats of recession, providing insights from top decision-makers.

This year, the awards recognized companies that actively contribute to improving the country’s business culture and promoting transparency. The transparent business initiative White Wave, managed by the Investors’ Forum association, established a special award for the implementation of transparency principles in business. The title of Transparency Ambassador of the Year was awarded to the retail company Rimi Baltic, which consistently shares best practices and has been an active member of the White Wave initiative for many years, marking all its product packaging in the Baltic States with the initiative’s emblem.

The title of Entrepreneurial and Economic Teacher of the Year was awarded with the help of long-term partners of the association, Lithuanian Junior Achievement. This title was given to two educators: Rima Meldaikienė from Mažeikiai Merkelis Račkauskas Gymnasium and Kristina Nosamienė from Šiauliai University Gymnasium.