aA
The Taiwanese Representative Office in Lithuania on Wednesday confirmed plans to invest 200 million US dollars in the country in the near future.
Seimo narys Matas Maldeikis Taivane
Seimo narys Matas Maldeikis Taivane
© Scanpix

"Taiwan is setting up an investment fund with an initial funding of 200 million US dollars to invest in Lithuanian industries which are strategic for both Lithuania and Taiwan, for long-term economic developments," Eric Huang, the head of the office, told a news conference.

The strategic investment fund will be funded by Taiwan’s national development fund and private sector companies, according to Huang.

"The fund has a lot of experience and expertise in the development of advanced industries," he said.

The investment package is part of Taiwan's action plan to develop economic ties with Lithuania in the face of pressure from China which Taipei says is unprecedented and in breach of international law.

The plan also calls for setting up a special task group to facilitate cooperation between Lithuanian and Taiwanese businesses and for taking over Lithuanian goods blocked by China, including in urgent cases.

Huang told the news conference that he expected to see the results of these efforts "within the next few months".

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Lithuanian airports’ aviation traffic results for 2021: the period of rapid recovery

In 2021, Lithuanian airports handled almost 2.5 million passengers, 37% more than in 2020, when they...

Lithuanian startup launches predictive eye-tracking analytics for ad posters

Attention Insight, a pre-launch design analytics company offering AI-powered website and advertising...

Seimas reject ruling block's bid to liberalize alcohol sale

The Seimas of Lithuania on Tuesday voted down the ruling block's initiatives aimed at liberalizing the...

Bagdonavicius to lead birkle IT Lithuania and Latvia

To meet the goal of business expansion in the Baltics, birkle IT is proud to announce that Dr....

Prototype electric passenger bus is being tested at Vilnius Airport

The prototype electric bus Dancer developed and manufactured in Lithuania is being tested for...

Top news

President urges to "fix" Taiwanese office name

Lithuanian President Gitanas Nauseda has called on the country's government to "fix" the name of the...

Simonyte: we need to be ready for everything, only Putin can answer on war

Lithuania needs to get ready for all possible scenarios over Russia's military buildup near Ukraine...

10 630 new COVID-19 cases

On Wednesday, 10 630 new COVID-19 cases were detected in Lithuania. Since the beginning of the...

Hollywood star Clint Eastwood continues legal battle against Lithuanian firm (1)

Hollywood star Clint Eastwood continues his legal battle against Mediatonas, a now-liquidated...

Cabinet approves strategy for citizens' preparation for civil resistance

The Lithuanian government approved on Wednesday a strategy for citizens' preparation for civil...