Invest Lithuania

Invest Lithuania (Lithuanian: Investuok Lietuvoje) is the national investment promotion agency responsible for the attraction and retention of foreign direct investment (FDI) in Lithuania. The agency provides free-of-charge services to companies interested in launching or expanding their operations in Lithuania. Since its inception in 2010, Invest Lithuania has attracted over 330 international companies to the country, which created over 37,000 jobs in total.

History

Invest Lithuania was established in 2010, when the Lithuanian Development Agency (LEPA) was split into Versli Lietuva, an entrepreneurship and export development agency, and Invest Lithuania. Mantas Nocius, the former head of LEPA, was appointed the first General Manager. Currently, Invest Lithuania is led by Elijus Čivilis.

Structure

Invest Lithuania is a public body owned by the Republic of Lithuania, with the Lithuanian Ministry of the Economy and Innovation exercising the owner's rights and duties. Nevertheless, the agency maintains its own board.

Invest Lithuania consists of 7 departments: Investment Promotion, Project Management, International Talent Development, Marketing and Communication, Finance and Administration, HR, and the Create Lithuania programme. The agency currently employs over 100 specialists.

Results

As of 2023, Invest Lithuania has attracted 333 international companies to set up operations in Lithuania. These investments have created over 37,000 jobs. In 2021, attracted companies generated 4% of Lithuania's GDP. 2022 was the most successful year for the agency so far, with a record 57 investment projects closed, 5,000 jobs created and €134.5 million invested in fixed assets.

Awards

Invest Lithuania has achieved success in the Emerging Europe Investment Promotion Report, ranked second among European investment promotion agencies in 2022 and 2023. In Lithuania, the agency was recognised as the top public sector institution in terms of reputation by the Lithuanian Reputation Index 2022 and 2023.

Services

Invest Lithuania aims to reduce the risk, time, and costs for international companies looking to launch their operations in Lithuania. The agency allocates dedicated Investment Advisors to each FDI project. All Invest Lithuania services are free.

Site selection

At the start of the client journey, Invest Lithuania performs thorough site selection research, gathers market intelligence, and organises meetings with decision makers and local partners.

Setting up

Invest Lithuania guides investors through the necessary set up procedures, from registering a company to getting a construction permit or banking licence. The agency also helps its clients solve problems regarding state support, construction permits, tax exemptions and other issues.

Aftercare and business growth

Invest Lithuania assists investors in ramping up operations. A dedicated Customer Success manager at the agency provides support in training, recruitment, and access to additional incentives.

Priority sectors

Technology

Invest Lithuania places a particular focus on attracting global technology companies and startups to set up operations in Lithuania. Fintech, Cyber Security, Software Engineering and Game Development are the agency’s key focus areas within the technology sector. Notable technology companies attracted by Invest Lithuania include Unity, Shift4, Revolut and Wix.

Manufacturing

The agency considers global manufacturers a priority among potential investors. Within manufacturing, automotive components and industrial machinery are the target sectors. Invest Lithuania counts Continental, HELLA, Ryanair Engineering and other well-known manufacturing names among its clients.

Business Services

Invest Lithuania also targets international corporations looking to establish business services centres. Particular emphasis is placed on promoting ICT services as well as business services for financial institutions and manufacturing companies. Notable sector successes include Cognizant, Danske Bank, Nasdaq and Rocket Software.

Life Sciences

Invest Lithuania promotes the country’s Life Sciences sector among potential investors. Biotechnology, MedTech and Industrial Biotechnology are the focus sectors within Life Sciences. The agency has assisted Hollister and Cureline, among others, with establishing operations in Lithuania.

Programmes and initiatives

Invest Lithuania has developed a number of initiatives aiming to improve the country’s investment environment, including the talent pool and public governance.

Work in Lithuania

Established in 2017, Work in Lithuania aims to attract specialists living abroad to pursue their careers in Lithuania, and to initiate changes that help the country successfully compete in the global talent arena. Work in Lithuania has partnered with over 300 Lithuania-based companies to help them attract skilled, highly qualified specialists from abroad, and create a firm foundation for international talent acquisition.

The Work in Lithuania portal receives more than half a million monthly visitors from around the world.  Together with partners, the Work in LIthuania team established International House Vilnius, an information and consultation centre that helps international talent find their footing in the Lithuanian capital.

Kurk Lietuvai (Create Lithuania)

Running since 2012, the Create Lithuania program has been attracting professionals with international experience to work on projects in the public sector. The initiative aims to foster innovation in governance, increase interest in public service, and create a network of active, civic-minded professionals. During its first decade, Create Lithuania saw the implementation of over 280 projects, with around 80% of participants staying in Lithuania and over 40% continuing their careers in the public sector after the program.

Business environment

The Project Management Department at Invest Lithuania works to create favorable conditions for foreign companies to establish and expand their operations in Lithuania. The department consults the government and other public institutions on matters of the labor code, education and other areas.

Among the department’s major initiatives to improve Lithuania’s investment environment is the Green Corridor legal framework for large-scale projects, which will result in over 3,000 jobs created in the manufacturing sector, and the 2020 Lithuanian Economic Transformation Guidelines, which have been turned into national-level decisions promoting the country's economic growth.

References

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Ministry of Economy (Lithuania)
2010 establishments in Lithuania
Organizations established in 2010
Non-profit organizations based in Lithuania
Investment promotion agencies