With implemented structural reforms, infrastructure development and innovations, Lithuania could be among the top most competitive countries in the world, say representatives of the World Economic Forum who shared their experience in the Annual Economic Forum organised by the Lithuanian Confederation of Industrialists.
Caroline Galvan
© DELFI / Tomas Vinickas

Lithuania has climbed five positions to the 36th place in this year‘s World Economic Forum Global Competitiveness Index. However, some of the biggest challenges for Lithuania in the future may be posed by ageing population and emigration.

Caroline Galvan, a member of the World Economic Forum Global Competitiveness and Risks Team, said that “more attention needs to be paid to infrastructure, institutions and innovations. State institutions should encourage productivity. Moreover, talents and competitive economy are also important, special attention needs to be given to motivation of talented people. Of course, it is also important to know what the country wants to achieve in the future, how to attract those talents.”

Nordea bank economist Žygimantas Mauricas said that “it is not enough for us to be somewhere in the middle, we need to be the best, like, for example, Ireland which is the best in the world in many aspects. Estonia is also on a good course, it is already presented to other countries as an example, as the best in the world. We also need to find our niche and be the best at least in some segments.”

Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Lithuanian ESO EUR 200 mln. tender is on it’s way

Preparation for the tender of smart electricity meters by Lithuanian energy distribution system...

Lithuania's budget gets EUR 4 mln of "nobody's money" after FNTT probes

4 million euros, officially recognized as having no owner, have been transferred to the state budget...

Lithuanian govt hopes papal visit will encourage religious tourism

Lithuania's government hopes the upcoming papal visit will encourage religious tourism in the country...

Lithuania ahead of Latvia, Poland, but behind Estonia on social progress index

The social environment in Lithuania is better than in Latvia and Poland, but worse than in Estonia,...

PM to invite European retailers to invest in Lithuania

Lithuanian Prime Minister Saulius Skvernelis says he plans to invite 12 European major retail chains...