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Friday, 26.04.2024, 21:59
Lithuania can be at forefront of WEF's competitiveness rankings
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"Many challenges facing Europe and Lithuania in particular can also be an opportunity. As a small, open economy your country stands well poised to embark on critical reform efforts to raise its competitiveness compared to faster growing economies and larger economies. You can really be at the forefront at the report," Martina Larkin, the head of Europe and Eurasia at the WEF, said at an annual economic forum.
The fact that Lithuania has managed to rise to number 36 in the WEF's report shows that the country is able to focus on key areas, she said.
However, Larkin underlined the importance of enhancing competitiveness through infrastructure improvements and innovations.
"Particularly around the areas of infrastructure, institutions and innovations, which are critical areas for Lithuania. We think you can build your national competitiveness and make the most of the resources," the WEF official said.
"There are a lot of challenges ahead. (...) Particularly structural reforms, which are so important," she added.
Lithuania this year moved up five notches to rank 36th in the WEF's global competitiveness rankings.
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