28 Aug

Lithuania should seize the foreign direct investment advantage

August 28, 2023

By George Prior

Lithuania needs to harness “the enormous power” of international investment to boost its economic opportunities in an increasingly globalised world, says serial global investor Nigel Green.

The European Union-based international entrepreneur, investor, and government advisor stresses that foreign direct investment (FDI) is a lifeline for economic growth and development.

He says: “Countries worldwide compete to attract foreign direct investment due to its ability to bring capital, technology, expertise, market access and large-scale job and wealth-building opportunities to a nation.

“All over the world, history proves that foreign direct investment ignites long-term, sustainable economic growth.”

As a long-term investor in and advocator of Lithuania, Nigel Green says that Lithuania should now “harness the power of foreign direct investment (FDI) and allow it to become a cornerstone of national economic development.”

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He says: “I’m a huge believer in the potential of Lithuania and I think the time is right for Lithuania to seize the FDI advantage.

“By properly pushing the FDI programme, there will be a surge of capital into Lithuania, catalysing economic activity and driving growth.

“This influx of funds can be channelled into critical sectors such as infrastructure, technology, and manufacturing, creating jobs and improving the standard of living for the Lithuanian people.”

Nigel Green continues: “As I have seen around the world, foreign investors typically introduce different technologies, best practices, and management expertise.

“This transfer of knowledge enhances local innovation capacity and accelerates Lithuania’s progress toward becoming a knowledge-based, top-tier economy.”

Foreign direct investment would also help diversify Lithuania’s industrial landscape, reducing overreliance on specific sectors and fostering resilience against economic fluctuations.

“The establishment of new industries and sectors enhances economic stability and paves the way for a more balanced economy,” he notes.

“In addition, by going big on foreign direct investment, Lithuania gains more access to international markets through the establishment of export-oriented industries. These industries create products for global consumption, generating foreign exchange earnings and contributing to the country’s export revenue.”

Infrastructure development, from transportation networks to energy systems, would also receive a boost. Improved infrastructure not only attracts investors but also contributes to the overall development of the country for the long-term.

Additionally, as foreign investors seek local talent, Lithuania’s workforce is then exposed to global business practices, higher salaries, and skill enhancement, all of which creates a more competitive labour force.

Nigel Green concludes: “As Lithuania continues to assert itself on the global stage, the strategic use of foreign direct investment should take on greater significance.

“The transformative impact of a comprehensive FDI agenda on Lithuania’s economy, from innovation to job creation, would be undeniable.

“With the right approach, Lithuania can position itself as a beacon of opportunity, attracting investments from around the world that empower its people, enhance its economic resilience, and pave the way for a brighter and prosperous future.”

About:

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices across the world, over 80,000 clients and $12bn under advisement.


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