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Lithuanian business expatriates can make a change: from local to global

2010-05-11

World Lithuanian Economic Forum, organized by Lithuanian Business Confederation | ICC Lithuania (former International Chamber of Commerce – Lithuania) , took place on 2-3 July 2009.This forum is the third and - by far the most successful attempt to attract businessmen of Lithuanian origin to participate in the economy of Lithuania. The last forum was organized in 1992.

320 business leaders were present at the event representing 32 countries. The participants also included honorary Consuls and commercial attaché of Lithuania, residing in 21 countries. Those who could not manage to come were given an opportunity to watch the forum live on LTV World channel.

During the two-day event three thematic sessions focused on exchange of views, sharing experience as well as building and strengthening business ties. In the round table discussions Lithuanian businessmen living abroad spoke about the difficulties while investing in Lithuania, pointed out the fields where cooperation has most successful prospects, proposed different ways of fighting the economic crisis in Lithuania and forwarded some very concrete proposals to Lithuanian businessmen.

The Prime Minister of Lithuania Andrius Kubilius, Minister of Foreign Affairs Vygaudas Usackas as well as Minister of Economy Dainius Kreivys participated in the discussions. Two vice ministers of Economy gave presentations on innovations and export development preceding the round table discussion together with Lithuanian business expatriates along the globe. According to the Director General of Lithuanian business confederation ICC Lithuania Mr Algimantas Akstinas the forum was overwhelming and fully met the expectations. The conference venue was crowded with energetic and pro-active businessmen both of the forum days. This only proves that the interest cannot be artificial in no means and is extreme relevant for todays business society.”

According to Mr Akstinas, this is a successful example of private- public partnership , when the participants voiced out numerous valuable proposals and the government representatives expressed a will to listen and to cooperate in applying them.

Mr. Roger Altman, Chairman of Evercore Partners, former Deputy Treasurer Secretary at the President B. Clinton administration and Assistant Secretary for Domestic Finance at J. Carter administration (USA), who is married to a Lithuanian told : “ There is only way for Lithuanuia to rise up from the crisis . We need individual, business and government motivation, we need flexibility and optimism as well as policies of encouragement and supporting” .According to him, there is a global movement in the world – there is too much concentration on national issues –not seeing Lithuanian in the global context. CEO of "Cicero Capital" James Oates noted that the crisis in the world could have been avoided following the right decisions in the right timing.

"The priority of Lithuania must stay entering the eurozone “: told the Prime Minister Andrius Kubilius. He added that there are three existing priorities for the current government: stability of the state finances, boosting the economy and social stability. Therefore it is ready to do the best in order to follow these priorities. One of the concrete proposals to overcome crisis outlined by the participants of the foru was the one presented by Credit Suissse CEO in Kazachstan Mr. Antanas A. Petrošius. The expert was sure that the establishment of state bank would encourage the rise of Lithuanian economy.

The fact of a too large monopoly of Swedish banking on Lithuania was outlined in his and others expressed opinion. Another mentioned point was that there is not enough being done in order to attract foreign investment to Lithuania. Ermgassen & Co – Lithuania CEO and partner Mr. Kasparas Jurgelionis stressed that During the last year Lithuanian attracted relatively large amount of investment. However attracting and retaining are two different words.

"The task of the Government is to monitor that investment is retaining and properly used. There exist a problem, when you see a disbalance in this area” : told Mr Jurgelionis. The vice minister Mr. Arnoldas Burkovskis told that exports development could be a long-term engine of Lithuanian economy. "Lithuania is in the crossroads of EU and CIS countries, therefore it can enter the large markets, where the name of Lithuania is already known – Italy, Israel, Kazachstan, and other“.

Food Depot International President (USA) Ms Angela Kavak told that marketing must be a strongly related part of exports and set examples of quality Lithuanian products could not enter new markets just because of absence in marketing strategies. She also indicated obstacles while opening an account at a Lithuanian bank. She was followed by Butenas Holzbauten owner rand CEO Mr. Remigijus Būtėnas, who stressed that bureaucracy is an obstacle in the process of many successful investment. "I own a company in Germany, where I registered it in five minutes – no stress and special efforts were needed, I also used the EU support and I have not received any obstacle while receiving support.”

dr. Mazvydas Michalauskas a general lawer at his own name Law Firm in France also shared his judicial experience and stressed that highly –reaching Lithuanians are present everywhere in the world. However they are not encouraged and they become expatriates for good. "Two steps in one time are needed: not only expand to Europe, but also to other countires and think of people of Lithuanian origin living there” – he proposed.

The participants at the forum received some very concrete proposals. E. g, Mr. Būtėnas, owner of wood processing company in Germany is planning to establish a company in Lithuania to produce its production.