The members of „Investors‘ Forum“, association uniting the largest foreign investors into Lithuanian economy met with the chief advisor to the President, head of economic & social politics team Giedre Kaminskaite-Salters on the 10th of October, 2014. Lithuanian competitiveness, necessary changes and amendments for the improvement of Lithuanian business and investment climate were discussed during the meeting. The review of the administrative burden put on businesses due to overregulation and the necessity of providing Lithuanian market with qualified, adequate labour force were among the most distinguished topics covered.

„The Investors‘ Forum brings together leading businesses in Lithuania. Of course, to maximise your contribution, a lot needs to change, including cutting red tape, reducing corruption and providing more flexibility in our labour policy. But  I‘m convinced that with your help we will see progress in job creation, economic growth and a step change in social integration.“ – said G. Kaminskaite-Salters.

„The scarcity of qualified labor force in Lithuania remains a significant obstacle for investors. Despite long-lasting discussions about education system in Lithuania and the need of reform, future prospects remain grim in this area. The fact that business associations and governmental institutions recognises this issue and initiate talks, sheds optimistic light on the matter. This meeting is an excellent example of positive initiatives like that“, – said Rolandas Valiunas, Investors‘ Forum Chairman of the Board.

Based on the findings of Investors Confidence Index for Lithuania, foreign capital enterprises in Lithuania have increasing positive expectations of business conditions in Lithuania. A third of surveyed investors are planning to increase capital investments, almost a half of them are going to create additional vacancies. On the other hand, inefficient labor regulations, taxation system and the transparency deficit in business environment and public procurement areas lower the attractiveness economy, therefore deter potential investors.