Sapoka: Only EUR 1 billion out of EUR 6 billion. How to attract other institutional investors' money?
VILNIUS – Enhancement of business funding diversification, more flexibility in investment in Lithuania and more close cooperation between the government and market players – areas with great potential for investing more assets accumulated by institutional investors in our country. At present, EUR 1 billion out of EUR 6 billion is invested.
The results of the survey of the European Bank for Reconstruction and Development (EBRD), aimed at improving investment environment for institutional investors, last week were discussed at the Seimas by the members of the Seimas, representatives from public agencies and business.
“We are in the process of creation of the most favourable jurisdiction for suppliers of financial services in Lithuania and strengthening the consumer protection. We have discussed the ways to do this. Now, it remains to choose the most effective one to attract investments,” said Minister of Finance Vilius Šapoka.
The EBRD representative presented the situation of investing the accumulated assets of institutional investors – pension funds, insurance companies and investment funds – in Lithuania and provided 22 recommendations to our country. All of them are related to the improvement of the legal environment and possibilities of creating new financial instruments. According to the EBRD, this will activate the capital market development momentum in Lithuania.
Also, the results of the research performed by “Create Lithuania” were presented at the Seimas. The research presented the proposals for improving the activities performed by state-owned companies.