LATEST INSIGHTS AND UPDATES
November, 2016
LITHUANIA’S SHARED SERVICES SECTOR RECORDS 12% GROWTH

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.

Download Lithuania‘s Business Services report to find out more.

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INVESTMENT PROJECTS
Revolut
Global FinTech star Revolut to employ 40 specialists in Lithuania

UK-based fintech startup Revolut is to open a finance centre in Lithuania. The company, which provides payment services across Europe, plans to recruit a team of up to 40 IT specialists. The precise number will depend on the company’s rate of expansion.

 

 

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Ryanair
Ryanair expanding its aircraft maintenance base in Kaunas

The Irish low cost carrier Ryanair is expanding its maintenance, repair and overhaul (MRO) base in Kaunas, Lithuania. The transport industry giant is planning to invest around €250,000 into expanding the facilities of its maintenance unit, Kaunas Aircraft Maintenance Services (KAMS), which is located at Kaunas International Airport.

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Citco
CITCO is expanding: the company will search for finance and law specialists in Vilnius

The CITCO Group of Companies, which provides accounting and corporate secretarial services to hedge funds, private equity and real estate funds, property holding and financing companies, banks and international corporations, is expanding its service centre in Vilnius.

 

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INVESTMENT CLIMATE
Lithuanians will be part of Hewlett-Packard’s revolutionary transformation of the footwear industry

Elinvision, a Kaunas-based company that produces 3D scanners, and the major global IT corporation Hewlett-Packard Company (HP), jointly intend to revolutionize the global footwear industry in the next five to ten years. Other Lithuanian producers are also taking part in the project.

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FinTech Industry in Lithuania – more possibilities to remote identity verification

The Government has approved a new regulation that will better enable financial institutions and other organisations to identify customers in a non-physical manner (i.e. not face to face identification). It is expected that this will enhance the development of the financial technology industry (FinTech) and result in more investment in the field in Lithuania.

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LITHUANIA IN FOREIGN MEDIA
Come to Lithuania! ‘Britain has lost business advantages after Brexit’, says country

Lithuania has embarked upon an aggressive drive to lure companies out of the UK and into its capital city after Britain’s vote to leave the European Union. Officials from the Baltic country see Brexit as an opportunity to tempt large multinational corporates, as well as smaller start-ups, to relocate investment and jobs to Vilnius.

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Danske Bank spends billions on redundancies – and hires 600 IT professionals in Lithuania

In less than two years, Danske Bank’s IT department in Vilnius has grown from zero to 600 employees. But there won’t be many more, says the director. While over the past five years Danske Bank has paid out 3 billion kr. to get employees to voluntarily leave the Danske Bank Group, the story is quite different in Lithuania.

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Photonics from Vilnius: showcasing Lithuania’s laser expertise

Matthew Dale reports from an EPIC meeting on laser material processing from the Lithuanian capital Vilnius, and finds that Lithuania has a lot to offer in terms of photonics expertise.

 

 

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An overview of the development of the Lithuanian laser industry

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.

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FROM LITHUANIAN MEDIA
The Chinese settling in Lithuania: you will be the European centre of FinTech

“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.

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OTHER NEWS
Invest Lithuania to evaluate investor attractiveness of infrastructure projects thanks to new role
2016-10-26
TOP STORIES FROM OUR BLOG
Western Union: The personal touch | Part II
2016-10-10
Western Union: The personal touch | Part I
2016-09-21
MEET US AT EVENTS
Bio-Europe
22nd Annual International Partnering Conference BIO-Europe

If you are interested in accessing a new network of opportunities in the field of global bio technology, BIO-Europe is the conference for you. BIO-Europe is Europe’s largest partnering conference serving the global biotechnology industry.

When: November 7-9, 2016
Where: Cologne, Germany

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Personnel brilliance and poverty. Talented employees – a challenge to find, a challenge to maintain

This year‘s annual international conference “Personnel brilliance and poverty“ is titled “Talented employees – a challenge to find, a challenge to maintain”. Its purpose is to invite personnel managers to come up with creative solutions for how a company can retain and build great talent.

When: November 10, 2016
Where: Vilnius, Lithuania

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Dev Gamm Minsk 2016
DevGAMM Minsk 2016

Join us at one of the most productive events in the game industry – DevGAMM. The conference gathers more than 1200 game developers and publishers from 25 countries.

When: November 10-11, 2016
Where: Minsk, Belarus

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CONTACT US

Laura Balsiukė
Investment Advisor | Business Services

T: +370 5 212 0874
E: laura.balsiuke@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.