Denmark leads investment race in Lithuania

Low operating costs and high growth rates in Lithuania lead to double digit growth rates of Danish investment

The distance to Lithuania has decreased - mentally at least - since the Baltic country gained EU membership. Danish investors lead the pack, according to Lars Christensen, a senior analyst at Danske Bank.

'It is especially a draw that Lithuania is a low-cost area - it draws both investments and export,' said Christensen.

Danish exports increased by 13.2 percent last year to DKK 2 billion.

Machines such as elevators, centrifugal pumps, refrigerators and coolers and transportation articles made up 40.6 percent of exports - the largest share.

Lithuania's membership to the EU has also boosted trade and brought the country closer to Denmark.

'It's become natural to be active on the markets close to home which had been mentally distant in the past. Just as it's natural to invest and export to Sweden, it has become natural in the Baltic countries,' said Christensen.

He attributed the brisk economic growth in Lithuania to a combination of Scandinavian know-how and Lithuanian dynamism.

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