Lithuania is amongst the EU member states that have suffered the least damage during the pandemic. Thanks to the dynamic and professional reaction of companies and timely support offered by Lithuanian authorities, the manufacturing sector have minimally experienced the effects of the crisis. The focus has been shifted to more robust IT development and automation of manufacturing processes. Improving the efficiency of supply chains by moving manufacturing units of multinational companies from Asia to Lithuania has been at the centre of attention.
In Lithuania, many international-capital companies invested in technological lines and development in the Lithuanian free economic zones and other areas across the country to boost productivity and efficiency, in 2020. In addition, greenfield projects also continued with success, and Lithuania achieved excellent results in this regard. The country ranks 1st in the EU and 4th globally by its greenfield investment ratio.
Lithuania’s advantages for foreign investors
If analysing the largest investor countries precisely in the industrial sector, which had chosen to move their manufacturing units to Lithuania in 2019, we see that the bulk of the investments came from Germany and the USA.
Analysing the business areas with the most jobs created, it should be noted that as many as 34% of them were attributable to the industrial sector.
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