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Vilnius market

200 million EUR project: where in Lithuania will it be implemented?

LRT.lt
in 2017 May 16 08:30
2 min. reading
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Biotechnology entrepreneur Vladas Bumelis has an idea - to create 500 jobs and build three factories where medicines would be produced. V. Bumelis, who spoke about this in more detail on the show "Dēmesio centru", said that when considering a place where a new scientific complex could appear, he thinks not only about the big cities of the country - Vilnius or Kaunas - but also about the possibilities of the regions.

"You know, nothing comes out of nowhere. We develop new drug production technologies, test drugs, undergo clinical trials before the drug is finally used for human treatment. The capacities we have today in Lithuania do not allow us to expand, so it was decided to build a new complex", said V. Bumelis.

According to the businessman, it is planned to invest about 200 million in the new complex. euros. The first factory would produce products from microbial cells, the second from mammalian cells, and the third for cell therapy and stem cell products.

When asked why he plans to invest in Lithuania, and whether there are suitable conditions here, V. Bumelis said that the investment environment in the country is excellent - the profit tax is only 15%, and the banks are currently full of money, only good ideas are missing. The businessman believes that the planned investment would not only benefit the business, but would also improve the image of the entire country.

"Lithuania is a beautiful country, we should not only look at Vilnius and Kaunas. I think that the idea of ​​developing regions is real. Panevėžys is very energetically involved in this project, it belongs to the free economic zone, the city has good infrastructure. It is an attractive place for such investments. The benefit to the country could be about 300 million. euros per year, because the prices of biological drugs are not cheap. The emergence of such a complex would also contribute to improving the image of Lithuania", said V. Bumelis.

More about the planned 200 mln. Euro investments and one of the biggest cyberattacks can be seen in the show "Demisio centru".

Edmund Jakilaitis, LRT TELEVISION program "In the center of attention", LRT.lt

TAGS:BiotechnologiesFactoryLRT
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