Lithuania’s economists produce recommendations to boost competitiveness

Based on the study, recommendations will be produced and submitted to the Government and businesses. The economy study had been carried out for more than two years.

“At the moment, there is nothing more topical for Lithuania than increasing its competitiveness because we will have considerable challenges in the future. Given the demographic situation and emigration trends in the 7-8 years outlook, we must think of ways to make Lithuania more competitive so that residents earn bigger income and purchasing power grows, which would enable us slowing down the negative processes of migration. Also, we should keep in mind that the European Union‘s aid after 2020 will change completely,” says Rimantas Rudzkis, professor at Vilnius University.

According to him, the greatest achievement of the study is the improved inter-institutional relations of the country’s economists, which will contribute to the increase of the economic potential in Lithuania and will be reflected in the findings of scientists.

Rytis Krupšinskas, professor of Kaunas University of Technology, says that traditional manufacturing industry remains the area which creates the biggest added value, thus, it must be strengthened with human resources, new technologies and better competitiveness of products.

When it comes to the human resources field, scientists say that Lithuania lacks specialists in specific areas, particularly, in engineering, who could create and apply innovations. “There is a lack of connection and synergy between the technological and social sciences,” prof. Krupšinskas said.