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Foreign investors in Lithuania have started the year optimistically, with most expecting to increase profitability and hire more staff.
Vilnius
Vilnius
© DELFI / Karolina Pansevič

A survey by the Investors' Forum shows growing confidence among CEO's of foreign companies in Lithuania. As many as 98% are expecting to sustain or further increase both the profitability of their companies and demand for products or services. None of the companies participating in the survey intend to reduce export volume and almost half of them (45%) plan to increase the number of employees.

However, half of the surveyed investors say they occasionally face problems related to the outdated Labour Code, while almost 47% come across such problems constantly or often.

Another cause concern is the level of business transparency. Seventy-nine percent of respondents said it demanded special attention. According to them, current efforts to increase transparency are not satisfactory.

“This was the first ICIL survey when participants were asked to evaluate Government’s achievements in 2015 and express expectations for 2016. Although successful introduction of the euro and completion of a large-scale power interconnection projects received praise, investors reacted negatively to a hasty raise of minimal monthly wage and stressed once again that increasing the non–taxable incomes would be a more sustainable solution,” said Rūta Skyrienė, executive director of Investors’ Forum.

During the ICIL (Investors’ Confidence Index) research Investors’ Forum surveyed top–level managers of 62 foreign capital companies operating in Lithuania. This was the seventh ICIL survey in a row.

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