LATEST INSIGHTS AND UPDATES
July, 2016
LITHUANIA STILL LEADING CEE IN PER CAPITA FDI

Lithuania still leads the Central and Eastern Europe region for per capita foreign direct investment (FDI) according to the latest data from fDi Markets, a database run by the Financial Times. Last year Lithuania attracted 16.8 FDI projects per one million inhabitants, ranking it first in the region and 5th in the EU. Analysts at the agency Invest Lithuania state that Lithuania’s attraction rate was over two and a half times higher than the average for the CEE region and 2.2 times above the EU average.
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NEW INVESTMENTS
CUJO
Hot US startup Cujo setting up development team in Lithuania

Cujo, which was featured as one of the hottest up-and-coming startups at this year’s TechCrunch Disrupt conference, is setting up operations in Lithuania. The US-based startup will establish its Lithuania division by the end of the year, where top IT professionals will work on developing, testing and improving Cujo’s smart home internet security technology.
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New Lithuania-built robot aiming to replace 1.5 million machines globally

A new industrial robot developed in Lithuania is hitting the market and it is set to put 1.5 million metal-bending machine tools out of use. The robot, called Bendsai, will be sold as a serial product and will be used for automating the process of bending metal parts.
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INVESTMENT CLIMATE
Startup visa in Lithuania
Lithuania to boost talent attraction through start-up visa

Lithuania’s Parliament, the Seimas, has this week approved amendments to the Law on the Legal Status of Aliens enabling the creation of so-called ‘start-up visas.’ The new visas will simplify the process for talented specialists from non-EU countries to apply to live and work in Lithuania, enabling employers to find the specialists they need.

 
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VeriLook algorithm
Lithuanian tech firm releases cutting-edge face recognition algorithm

Lithuanian tech firm Neurotechnology has today announced the release of VeriLook, a new algorithm used for face recognition. The company, which creates technologies for high-precision biometric identification, has created VeriLook as part of its new MegaMatcher 9.0 line of biometric software development kits, which also includes fingerprint, face, iris, palmprint and voice identification technologies.
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Startups in Lithuania
Former employee of Google believes Lithuanian startups can be global pioneers

Debu Purkayastha, a representative of UK-based investment fund Octopus Investments and a former employee of Google, believes Lithuanian tech entrepreneurs have what it takes to become global pioneers.

 
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Landmark reforms to cut tax on employee stock options approved

Key amendments to Lithuania’s social insurance legislation now mean a major taxation issue, which has had serious repercussions in Sweden, has been resolved. Parliament of Lithuania approved changes to the Law on State Social Insurance which will create fair and competitive taxation levels on employee stock options.
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OTHER NEWS
Lithuanian Parliament approves airport concession legislation
2016-06-07
MEET US AT EVENTS
EPIC Executive Meeting on Lasers and Material Processing

The meeting will discuss between suppliers and users the latest advances in laser-enabled high precision processing of materials.

When: September 7-9, 2016
Where: Vilnius, Lithuania
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Deloitte Shared Services, GBS & BPO Conference

Leading practitioners from a wide range of companies will cover topics including: choosing the right GBS governance structure, harnessing the power of big data and analytics, implementing continuous improvement and many other.

When: September 14-15, 2016
Where: Lisbon, Portugal
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Life Sciences Baltics

Life Sciences Baltics 2016 is the only international forum in the Baltics for world-class biotechnology, pharmaceutical and medical devices experts from all around the world.

When: September 14-15, 2016
Where: Vilnius, Lithuania
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Baltic Strategic Shared Services Conference

Building on the success of previous events, this year’s Baltic Strategic SSC Conference takes place in Vilnius, the region’s fastest-growing and most attractive SSC destination.

When: October 12-14, 2016
Where: Vilnius, Lithuania
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CONTACT US

Evelina Fetingytė
Investment Advisor | Business Services

T: +370 5 204 7808
E: evelina.fetingyte@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.