LATEST INSIGHTS AND UPDATES
April 2017
GERMAN AUTOMATION TECHNOLOGY GIANT TO DOUBLE ITS SERVICE CENTRE IN KAUNAS

The global automation solutions giant Festo is to expand its Kaunas service centre. The German company plans to employ an additional 300 finance, IT, document management, marketing and engineering specialists over the next three years, thus doubling its Kaunas-based team.

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INVESTMENT PROJECTS
US market leader in payment solutions establishing development team in Lithuania

Harbortouch, a market leader in point-of-sale (POS) payment solutions, is establishing a product development division in Lithuania. The division, which will be the company’s first outside the US, is expected to employ approximately 60 IT specialists.

 

 

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Regulators grant license to Lithuanian branch of Hong Kong Fintech company

On 29 March, 2017, the Bank of Lithuania granted a non-restricted Electronic Money Institution (EMI) license to IBS Lithuania, the European branch of Hong Kong-based Fintech company – International Business Settlement Holdings Limited. The newly issued EMI license allows IBS Lithuania to provide electronic money issuance and redemption as well as payment services across all the EU countries.

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INVESTMENT CLIMATE
New flight segment from Kaunas improves UPS export collection times and capacity from Lithuania

UPS announced a new direct flight segment from Kaunas, Lithuania, to its European air hub in Cologne, Germany. With this introduction, UPS will be able to offer much later collection times for export shipments from the country through its authorized service contractor, while also adding capacity to move more volume.

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LITHUANIA IN FOREIGN MEDIA
Going places: Kaunas carves out an aviation and MRO niche

With a history of technical expertise in the aviation and maintenance, repair and overhaul industries, Kaunas has built a niche for itself in this field, aided by its international airport and adjacent free zone, as Natasha Turak finds.

Engineering talent has put Lithuania in a prime position to attract a broad spectrum of technical industries. One such industry that Kaunas hopes to thrive in is maintenance, repair and overhaul (MRO) in the aviation sector.

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Kaunas: A rising center for business services and all in one solution for business growth

Rapidly developing and internationally recognized, Kaunas is becoming a go to location for Business Services in the region. And it’s not difficult to see why. It is currently one of the least saturated markets in CEE – with only 7 employees in the business services sector per 1000 inhabitants – offering greater potential for companies looking to grow than established centers like Wroclaw, Poznan and Tri-City.

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MEET US AT EVENTS
Innovate Finance Global Summit

The annual event is the most prestigious conference for the financial technology industry, a platform that convenes the world’s global institutions together with startups, policy makers and investors to share ideas and solutions to the challenges facing financial services.

When: 10-11 April 2017
Where: London, United Kingdom

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Games Industry Law Summit

The 3rd Games Industry Law Summit offers two days of presentations and panel discussions by legal and business development professionals from the international games industry. The Summit will provide a framework for highly practical discussions & networking.

When: 27-28 April 2017
Where: Vilnius, Lithuania

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European Shared Services Week

Through thought-leading content, big ideas speakers and global community, the 17th Annual European Shared Services and Outsourcing Week has established a reputation as the place to meet and exchange ideas that will decide the direction for the SSC and GBS market.

When: 15-18 May 2017
Where: Manchester, UK

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LOGIN

LOGIN is a platform where inspiring trend setters, entrepreneurs, startups and other innovative & creative minds within the ICT industry focus on recent developments and future inventions, discuss the most relevant and craziest ideas, promote themselves, their products, services and solutions, engage in networking opportunities and more.

When: 24-26 May 2017
Where: Vilnius, Lithuania

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Baltic Investors Forum 2017 with George Friedman

This year’s conference will focus on the latest geopolitical tsunamis – especially those which occurred in the last year – and their implications for the local and global economies. Those attending BIF 2017 will hear the ideas and perspectives of highly renowned speakers, including geopolitics expert George Friedman, EU ambassador to Russia Vygaudas Ušackas, Former CEO of Mazeikiu Nafta Jim Scheel, and many others.

When: 1 June 2017
Where: Vilnius, Lithuania

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CONTACT US

Rūta Labalaukytė
Investment Advisor | Business Services

T: +370 5 204 7801
E: ruta.labalaukyte@investlithuania.com

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As a part of the Ministry of Economy of the Republic of Lithuania, Invest Lithuania provides free advice to global companies interested in doing business in Lithuania and introductions to experts on the ground. So if your company is considering a business set-up or looking to access one of Europe's most skilled talent pools, make us your first stop.