The Ministry of the Economy and Innovation of the Republic of Lithuania is launching a EUR 6 million call to attract foreign investors to carry out research and experimental development (R&D) activities in Central and Western Lithuania.

“Last year we achieved excellent results in foreign direct investment in Lithuania: 53 projects were approved, more than 4,000 jobs are expected to be created in three years, and around EUR 207 million will be invested in fixed assets. 25 new international companies are entering Lithuania and 28 companies already operating in the country have approved development plans. The results show that we are on the right track in increasing foreign direct investment (FDI) so that it becomes a long-term strategic direction for a progressive Lithuania,”saied Aušrinė Armonaitė, Minister of the Economy and Innovation.

According to Invest Lithuania, 157 investment projects have been attracted in the last three years until 2021, which are expected to create more than 14,000 jobs. The investments have totalled EUR 516 million over the past three years. Under the TUI Invest facility, foreign investors that are micro, small and medium-sized enterprises (SMEs) and large enterprises that cooperate with SMEs can apply for funding.

The maximum amount of funding per project is EUR 2 million.

Compiled by the team of CzechTrade Baltics.
Source: Delfi LT