Long-term development in Lithuania is driven by the interaction between industry, science and education and is mainly centered around a knowledge-based economy. This, in turn, leads to the establishment and growth of high-tech companies producing high added value and thus creating job opportunities for top professionals in Europe. This report is about one of the strongest areas of Lithuania’s knowledge-based economy – the laser industry. The laser industry, which encompasses biotechnology, information technology (IT) and mechatronics, is the most advanced field of production in the country. The output of the Lithuanian laser sector consists of different kinds of lasers, ... More

Personnel levels in Lithuania’s shared services sector have increased by 12% this year. And with 7 new centres established in the last 12 months, there are now a total of 50 shared services centres operating in Lithuania. The latest figures on the sector, taken from an annual survey conducted by the foreign investment development agency Invest Lithuania, reveal that shared services centres in Lithuania now employ around 13,000 people, an increase of 12% on last year’s figure. And over 11,000 of these specialists work in internationally-oriented centres (those that provide over 60% of their services to foreign clients and customers.) And Mantas Katinas, Invest Lithuania&rsqu... More

We plan to open two settlement centres between the European Union and China. Lithuania was chosen as one of the two locations due to the broad approach of Lithuanians, friendly officials, and recommendations from Chinese companies investing in Klaipėda,” says Luo Feng, the CEO of International Business Settlement Limited in an interview with business daily Verslo Žinios. He shares what has been achieved so far and gives some advice to Lithuanian companies entering the Chinese market. – We spoke more than a year ago in June 2015. What has been achieved since then? We have achieved a lot during this time. The clearance system to handle settlements between China and the European... More

The company's manager is on the week business mission to Iran, where the meetings with Iranian businessmen, public authorities are held, in order to present Consultus Magnus services and promote Iran's investments to Lithuania. More

Lead Aero, a company based in France which represents Maintenance, repair and overhaul (MRO) equipment manufacturers, is to open a branch in Vilnius. The rapidly growing company, which records annual turnover growth of 70%, will use the Vilnius office to provide services to its customers in Eastern and Central Europe. According to Lead Aero’s manager Amir Mekhaeil, the company chose to set up in Lithuania not only because of the country’s growing economy, but also because of the strong development of its aviation industry. “Due to its convenient geographical position, Lithuania is a great country for developing our business,” commented Mr Mekhaeil. “It... More