Swedbank's chief economist Nerijus Mačiulis said that Lithuania is the least attractive to foreign investors, compared with Estonia and Latvia.
Mr. Mačiulis explained to Lithuania's News Radio that Latvian and Estonian holding companies are attractive because earned dividends and interest abroad are free of taxation. In this respect, Lithuania is really unattractive for investment. Companies that plan development in the Baltic region will estabish holding companies in Latvia or Estonia.
According to the economist, in the past few years, several large Lithuanian companies have moved their activities, setting up holding companies in Estonia and Latvia. This trend, he said, will continue in the future.
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