Baltic, Business, Competition, Lithuania, Markets and Companies, Rating
International Internet Magazine. Baltic States news & analytics
Thursday, 25.04.2024, 23:45
2 in 3 largest Baltic firms of Lithuanian origin
BC, Vilnius, 24.08.2016.
Print version
Print versionNearly two thirds of the Baltic states' biggest companies are Lithuanian-registered firms that operate in Latvia and Estonia, Verslo Zinios business daily said, citing experts as saying that the Lithuanian domination is not only due to the larger local market but also due to Lithuanians' entrepreneurship skills and their ability to work in a highly competitive environment.
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The Lithuanian
companies among top-50 in the Baltic states turned over nearly 23 bln euros in
2015, netting a profit of 936 mln euros. The Lithuanian weight is pulled up by
the fact that the largest companies in Latvia and Estonia include a few companies
of Lithuania origin or with Lithuanian links (Maxima Latvija, Maxima Eesti, Orlen Latvija, Orlen Eesti).
"The
growth of many of the biggest companies in the Baltic states was due to local
markets, not exports," said Mantvydas
Stareika, CEO of the Coface
business risk management company that compiled the 2015 list of the biggest
firms in the Baltic states.
Note
from BC editor: Orlen Lietuva – Poland origin PKN Orlen
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