Telia's leader in the Baltic states pointed out concerning figures: 'This is definitely not due to geopolitics'
Telia's leader for the Baltic region has highlighted a worrying decline in labor productivity in Lithuania, warning that without intervention, the country may become too expensive for investors.
Despite Lithuania's economy still being regarded as one of the fastest-growing in the European Union, Giedrė Kaminskaitė–Salters, the leader of Telia in the Baltic states, has expressed serious concerns over a significant decline in labor productivity in the country. She emphasized that this drop is not a consequence of geopolitical factors but rather an issue that must be addressed internally to maintain Lithuania's competitive edge.
Kaminskaitė–Salters pointed out that the lack of improvements in productivity could lead to Lithuania becoming increasingly expensive for potential investors. This development poses a risk not just to the economy but also to the job market, as it could deter foreign investment crucial for job creation and economic stability. The implication here is that if no proactive measures are taken to boost productivity, the country may struggle to sustain its current growth trajectory.
The call to action is clear: stakeholders in the Lithuanian economy must collaborate to devise strategies aimed at enhancing labor productivity. This could involve investments in technology, training programs for employees, and policies that encourage a more efficient workforce. Without such initiatives, the optimistic outlook for Lithuania's economic growth could fade, placing future prosperity at stake.