In a meeting with members of the American Chamber of Commerce on Monday, Minister of the Economy and Innovation Aušrinė Armonaitė talked about Lithuania’s investment climate and discussed opportunities to promote business relations and attract new investors to Lithuania.
‘We consider the US as one of the key strategic partners and we have plenty of opportunities to further expand bilateral trade and investment in particular. Lithuania has an exclusive interest to attract innovative companies; the priorities cover specific business segments, like data and business service centres for financial, manufacturing and IT companies,’ says Minister Armonaitė.
Ms Armonaitė pointed out that the Green Corridor initiative for large investors and the so-called ‘relocation package’ constitute a huge incentive for such investments. The Minister informed that following the launch of the Green Corridor initiative the Ministry received seven applications in 2021 and signed two large-scale investment contracts. The total planned investment amounts to EUR 386 million; the projects are expected to create more than 1800 new jobs.
The Minister also stressed that Lithuania is interested to expand high value-added goods and services export. ‘We are proud to offer products in life sciences, lasers, artificial intelligence and space technology,’ she said.
To promote the export of high value-added goods and services the Lithuania’s Commerce Attaché positions will be held in Los Angeles and New York in the near future.
During the meeting, Armonaitė presented the initiatives currently implemented in Lithuania to improve business environment and promote businesses. She talked about the ongoing innovation reform and plans to establish the Innovation Agency at the beginning of next year; the National Programme for the Development of Digitalisation for the period 2021-2030; initiatives in administrative burden reduction and data opening.
The American Chamber of Commerce is a non-governmental business organisation representing about 150 U.S. companies and entrepreneurs working in Lithuania. The mission of the Association is to represent general business interests of the members and contribute to the improvement of business environment in Lithuania. Members of the organisation include Hollister, Thermo Fisher Scientific, Western Union, IBM, Moog, Nasdaq and other global US companies.