Founder: Teltonika IoT Group semiconductor exports could produce 5% of Lithuania’s GDP in ten years

Ten years from now, with a Vilnius-based high-tech park completed, Teltonika exports could reach up to EUR 10 billion, accounting for 5% of Lithuania’s gross domestic product (GDP), says Arvydas Paukštys, president and founder of the Teltonika IoT Group.

“We estimate that the hi-tech park will be fully operational in ten years’ time, with exports of around EUR 9-10 billion. It will be equivalent to about 5% of Lithuania’s gross domestic product,” said Paukštys on Wednesday at an event marking Teltonika’s agreement with Taiwan’s Industrial Technology Research Institute (ITRI).