Finland, Sweden's NATO membership will boost investment in Lithuania – minister

  • 2022-07-20
  • BNS/TBT Staff

VILNIUS - Finland and Sweden's NATO accession will make Lithuania an even safer country for investment, and investors will be encouraged to expand their activities more actively, Lithuanian Economy and Innovation Minister Ausrine Armonaite says.

"The countries that decided to join NATO are entering the organization not as security consumers, but as providers with modern and well-organized military forces, which will significantly increase security across the Baltic Sea region. Also, Lithuania will become an even safer country for investment than it has been so far," Armonaite was quoted as saying in the ministry's statement.

On Wednesday, the Seimas of Lithuania ratified the protocols to the North Atlantic Treaty on the accession of Sweden and Finland to the Alliance.

The Economy and Innovation Ministry says foreign direct investment (FDI) in Lithuania exceeded 252 million euros in the first half of this year as 15 new foreign investors entered the country and another 16 more plan to expand, which is estimated to create more than 3,000 new jobs.

In 2021, Investuok Lietuvoje (Invest Lithuania), Lithuania's foreign investment promotion agency, approved 49 FDI projects, while 22 companies already operating in Lithuania approved expansion projects last year.