Lithuanian business presents itself at the largest industrial exhibition in Hannover
Lithuanian business is presenting itself at Hannover Messe 2023, one of the world's largest industrial exhibitions, in Germany. Karolis Žemaitis, Deputy Minister of the Economy and Innovation, who was here on a business mission, presented the Lithuanian business and investment ecosystem to potential investors.
“Lithuania remains an attractive place to invest. This is confirmed by the fact that last year, 30 new companies came to Lithuania, and another 27 companies already operating in the country have confirmed their expansion plans. Highly skilled professionals, well-developed logistics and robust digital infrastructure, tax incentives make Lithuania an attractive investment location for future manufacturing, automotive, service centres and a perfect place for ambitious entrepreneurs," says K. Žemaitis, Deputy Minister of the Economy and Innovation.
Lithuania also ranked 6th in the Global Cybersecurity Index and 6th in the Tax Competitiveness Index among the 38 Organisation for Economic Co-operation and Development (OECD) countries.
At the exhibition, the Vice-Minister visited the stand of LINPRA, the Lithuanian Engineering and Technology Industry Association, which unites about 140 members - manufacturing companies, technology service providers, educational and scientific institutions. This year, representatives of eight companies from our country and representatives of Invest Lithuania are participating in the joint stand.
"By participating in Hanover with LINPRA members, we represent Lithuania as an engineering country, and this year we aim to further shape our identity internationally: Lithuania in 2030 – an engineering country. Our companies have a great potential and are competitive in the global market and value supply chains. We spoke about this at one of the events dedicated to Lithuania at this exhibition, and we are also participating in B2B meetings with German companies to establish business-to-business contacts," Darius Lasionis, Director of LINPRA, said.
K. Žemaitis also took part in a discussion organised by the Union of German Chambers of Industry and Commerce on free trade in difficult times and invited German business representatives to visit next year's technology, innovation and engineering solutions exhibition Balttechnika 2024 in Vilnius, at the Litexpo Centre.
Around 4,000 companies from the mechanical engineering, electrical engineering, digital industry and energy sectors are showcasing climate-neutral technologies and solutions at the global industry fair, which takes place on 17-21 April in Hanover.
Germany is the largest investor in Lithuania, with its direct investments totalling €5.6 billion. Last year, the trade turnover between the two countries amounted to €9.7 billion. It is Lithuania's third largest trading partner.
Last updated: 19-04-2023
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