Statement of the Chairman of the Board
I am certain that life is deemed meaningful, valuable, and exciting as long as we are able to experience sincere amazement. And in the recent year I had lots of opportunities to experience it. Not only because 2020 has become a year of unprecedented trials for all of us. But first and foremost because of how we were able to meet, adapt, and overcome these challenges.
Addressing you today and looking back over the past year, I still feel overwhelmed by astonishment and pride. The response of many companies, especially members of the investors community, to the outbreak has demonstrated how responsible, mature, strong, and united we can be.
The Investors‘ Forum itself has contributed to the establishment of two initiatives, the Medical Facilities Support Fund and the COVID-19 Consequence Reduction Fund, and has helped to mobilize and coordinate the response to national and global threats. Many of you have also been and continue to be involved in various projects that help the state and society to fight the pandemic and recover once it withdraws.
However, the most important contribution of the members of the association to the successful response to the pandemic are the consistent daily activities of the members of the association. It has become evident that we can be flexible, reshape and adapt to a suddenly changed environment, and grow stronger.
This becomes obvious by looking at statistics. According to the State Tax Inspectorate, the companies united by Investors’ Forum added more than 3.7 billion euros of value-added taxes to the country’s treasury last year. The increase is 2.8 percent in comparison 2019. Investments of the Association’s companies into the Lithuanian economy accounted for more than 18 percent of all taxpayers’ investments declared in 2019. Therefore not only have you continued to operate, created value and jobs, but you have also successfully increased your volume. I consider this to be an achievement of immense proportion.
On the other hand, the years of challenges did not hinder our effort in improving the investment climate of the whole country. In 2020, the Investors ‘Forum submitted over 40 proposals to public authorities to improve the business environment. We have actively participated in various working groups, discussions, and meetings, being a strong and reliable voice for Lithuania and its society in tackling one of the biggest challenges so far.
The outcomes of these efforts are reflected not only in the performance of the member companies or the high international ratings of Lithuania but also in the growing value in ICIL (Investors’ Confidence Index for Lithuania). According to our regular research, the confidence in the Lithuanian economy is recovering. Compared to the previous year, investors are much more positive about the country’s business environment, and confidence has not only recovered but also exceeded the level of pre-pandemic.
I, therefore, say that we have every reason to remain optimistic. Working together, we have already achieved incredible results. I am sure that as the pandemic recedes and life returns to a more normal course, even more, impressive years of recovery and growth await us all.
Annual report: here.