Tele2 CEO Petras Masiulis on Lithuanian firms' reluctance to expand abroad

Tele2 chief executive Petras Masiulis says Lithuanian companies have talent and good products but often limit themselves to the domestic market. He argues that a lack of ambition and a fear of stepping out of the comfort zone hinder growth, noting that “Kartais lietuviški verslai galvoja per mažai. Mes turime labai gerų žmonių, gerų produktų, bet dažnai visas mąstymas apsiriboja Lietuvos rinka.”

Masiulis points to the ease of reaching global customers through the internet, technology and artificial intelligence, and urges firms to adopt a broader mindset, delegate responsibilities and embrace the risks of international expansion.

He also observes that in other markets, such as the United States, businesses think globally from the start, and that the current environment is more favorable for overseas growth than ever before.