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2015.09.08 13:45

Lithuania is the most active in Baltics in seeking foreign investors – expert

DELFI.lt2015.09.08 13:45

Lithuania is clearly more active than Latvia or Estonia in attracting foreign investors, says Kitty Kubo, former monitoring manager of the Development Fund, writes Eesti Päevaleht, the Baltic Bussiness News reported.

 Lithuania is clearly more active than Latvia or Estonia in attracting foreign investors, says Kitty Kubo, former monitoring manager of the Development Fund, writes Eesti Päevaleht, the Baltic Bussiness News reported.

“When Skype once released a press statement saying thaty they will set up a unit in US and another in Sweden, the Lithuanian investment agency called Skype Eesti’s CEO Sten Tamkivi in the same day with a offer to set up in Lithuania instead,” said Kubo, adding that Lithuanians have been always trying to react quickly to change in the external conditions.

Kubo says that Lithuania was the first in the Baltic States who started actively to attract foreign investors and has been the most successful in attracting them, especially offering backoffice services to multinationals.

“At the start of 2008 financial crisis they made very specific offers to large banks and other mutlinational companies that were planning to change their business models and were considering moving operations elsewhere. This enabled them to attract some very large names such as Barclays that set up its IT centre in Lithuania,” she adds.

“Lithuania’s population is bigger and they have more workers available on the labour market. The jobs that they are offering multinationals are not high-tech, but decent first jobs for young people with higher education,” says Kubo.