President Dalia Grybauskaitė

American investments in Lithuania are on the rise

2018-02-28

Wednesday, February 28, Vilnius - President Dalia Grybauskaitė met with the American-Lithuanian Business Council in the run-up to the U.S.-Baltic States summit meeting scheduled for April in Washington. The President and the American businesspeople discussed avenues for larger American investments in Lithuania and closer business cooperation in a number of areas, including innovation, defense, industry and energy.

Over the last year, American investments in Lithuania grew by 50 million U.S. dollars. American-based companies such as the medical devices and equipment manufacturer Hollister, IT solutions company Harbourtouch and cybersecurity company Arxan Technologies have entered Lithuania. Intermedix, providing health care and technologies services, and Michigan Delivery Systems and Support, providing medical insurance, are also interested in development possibilities in Lithuania. In 2017, Lithuania’s exports to the United States increased by 18 percent, and the sales of Lithuanian lasers in the United States doubled.

According to the President, both countries have success stories, but more avenues for cooperation need to be opened. To this end, a Baltic-American business forum, aimed at promoting business relations in a number of areas, including digital economy, innovation, energy, infrastructure and development, will be held during the President’s visit to Washington.

According to Dalia Grybauskaitė, the United States is a close ally of Lithuania whose presence in the region is vitally important for our security. The closer bilateral relations in defense, energy and business are, the safer and economically stronger Lithuania is. Therefore, it is in Lithuania’s interest to assist as many American companies as possible in discovering opportunities in Lithuania.

Enhancing cooperation in defense industry is also key to Lithuania. Already now, Lithuania is in the lead among the Baltic states in term of cooperation with the U.S. in this area. Lithuania’s military acquisitions from American manufacturers are on a sharp increase and Lithuanian companies are launching the export of high tech products for the American military industry. American military industries are also interested in investment possibilities in Lithuania. A bilateral defense forum held during the visit of the American-Lithuanian Business Council will also contribute to closer relations.

Energy cooperation was also on the agenda at the President’s meeting with the American businesspeople. Lithuania was among the first countries to import liquefied natural gas from the United States via the LNG terminal “Independence”. Diversified supplies of gas contribute to energy security of the entire region. To promote competition, the Baltic states’ regional gas market could import more liquefied natural gas from the United States. The Klaipėda terminal “Independence” could become a gateway for American natural gas to Central and Eastern Europe.

This is the fifth mission of the American-Lithuanian Business Council with the participation of a record high number of American companies. The meeting with the President was attended by representatives from Lockheed Martin International, Oshkosh Defense, Textron, OrbitalATK, Thermo Fisher Scientific, Intemedix, Pfizer, Michigan Delivery Systems and Support, Western Union, Strategic Staffing Solutions, and Philip Morris International. The American-Lithuanian Business Council unites American companies that have already invested in Lithuania and help other businesses to learn about investment opportunities.

Press Service of the President

Last updated 2018.02.28 14:01

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