City of London delegation visiting Lithuania

DELFI / Mindaugas Ažušilis

The delegation includes Chairman of the City of London Policy and Resources Committee, Mark Boleat, and representatives of world-renowned companies BlackRock, Thomson Reuters, Markit Group, Group Willis Ltd.

Rimantas Šadžius and Mark Boleat met on Monday to discuss how capital markets and new financing measures could better meet business funding needs.

“Cooperation with one of the top global financial centres would open new opportunities for our country to strengthen business ties promoting foreign capital investment and striving to employ the capital to stimulate economic growth and provide businesses, especially small and medium-sized enterprises, an opportunity to borrow not only from banks but also from participants of the capital market,” said Šadžius.

Mark Boleat introduced proposals prepared by the Finance Ministry and other institutions on legal regulation of the capital market measures, the use of financial engineering measures and success stories of well-known companies that invested in Lithuania. He also talked about main economic tendencies in Europe and across the globe and the future initiatives of the European Union in the area of financial markets.

Proposals have been prepared in Lithuania on how to regulate and improve conditions for crowdfunding, public offering of securities and the activities of investment funds and companies. Concrete legislation should be prepared by the end of 2015.

In addition, financial engineering – loans, guarantees, risk capital measures – will continue to be utilised to improve the level of entrepreneurship, modernise blocks of flats and public buildings and for other projects. It is important that implementing these measures private funds are attracted as this significantly increases the scale of investment.

The delegation from the United Kingdom on Tuesday will participate in an international conference Building a Capital Markets Union: Challenges and Opportunities for Business.

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