2023 Lithuania managed to achieve solid foreign direct investment (FDI) results: 53 projects were approved, 3 jobs are planned to be created in 4125 years and about 207 million to be invested. EUR to fixed assets. In addition, 25 new international companies are entering Lithuania, and 28 companies already operating in the country have approved their expansion plans, the public institution announces.Invest in Lithuania".
It is claimed that the last time similar results were recorded in 2017, when such German manufacturing giants as Hella and Continental entered Lithuania.
During 2023 6 production projects have been approved, of which 5 are expansions of existing companies. Systemair, which produces ventilation and air conditioning equipment, is expanding its factory in Ukmerge and plans to create about 260 new jobs. Ukrainian pet food manufacturer Kormotech plans to expand its production activities in Kėdainiai and hire 200 more specialists, while Latvian capital Brikers is finishing building a new factory near Vievis.
Last year, 2 projects in the field of life sciences were also approved. One of them is the healthcare products company "Hollister Lietuva", which invested 23,6 million. euros into the most advanced production technologies further expanded its team Beautiful.
International companies in the industrial sector are not only building factories in Lithuania, but also opening their business service centers here. The global distributor of semiconductors and electronic components Mouser Electronics, a subsidiary of the electronics company TTI, which belongs to Warren Buffett's investment company Berkshire Hathaway, is opening a European customer service center in Vilnius.
Despite global macroeconomic and geopolitical challenges, inflation and mass layoffs in large technology companies, Lithuania has managed to maintain the interest of foreign technology companies in business development opportunities in the country. In 2023, Lithuania won 31 FDI technology sector projects.
The fintech sector, which continues to grow successfully, dominates - as many as 9 companies have chosen Lithuania to conduct or expand their activities: the Swiss payment service provider Wallee and the United Kingdom platform Airwallex have announced their expansion, B2B payment solutions provider Hokodo announced plans to establish a payment service center in Lithuania, the Bulgarian fintech unicorn Payhawk also entered Lithuania, and Saldo Bank started banking operations in Lithuania. The global consulting company Guidehouse, which intends to hire 300 more specialists in the fight against money laundering, will also play an important role in the Lithuanian financial market.
Last year was most marked by the development of functions and business of technology companies in Lithuania. For example, e-commerce platform Boozt decided to expand its software division, mobile app developer Zedge is also expanding its team in Vilnius, and foreign companies Drager (Quadigi) and OAG announced their intentions to expand both in Vilnius. , both in Kaunas.
The French information technology company "Devoteam" is also expanding in Kaunas - it is hiring highly qualified specialists in the company's main cloud service center. Johnson Matthey, the leader in sustainable technologies in the United Kingdom, has also discovered multilingual Lithuanian talents, which will employ almost 200 specialists in the global service center being established in Vilnius.
Among other things, in addition to the usual functions of technology and "fintech" companies, areas of great importance to the country, such as cyber security, are gaining momentum. An example is the decision of Palantir Technologies, one of the leading companies in the field of data processing and artificial intelligence solutions, to establish a regional big data analysis center in Lithuania and a strategic agreement with the Ministry of National Defense.
ELTA (ELTA)
