VILNIUS - Teltonika IoT Group, a Lithuanian IoT solution developer, and Taiwan's Industrial Technology Research Institute are expected to sign an agreement on the transfer of semiconductor chip technology next week, Lithuania's Economy and Innovation Minister Ausrine Armonaite has confirmed.
"Teltonika should announce and officially sign the agreement next week. I cannot provide any detail on the timing when it will be announced. We have more companies that are already very close to an agreement," Armonaite told a press conference on Wednesday. "Those companies operate in the medical field and are already expanding. The Taiwanese are very much interested in lasers, and biotechnology is one of Lithuania's business cards, and here too companies are very close to an agreement."
Lithuania would have sought to establish itself in the semiconductor industry anyways, but with Taiwan's knowledge it can do so much quicker, the minister said.
"This will help us to move forward even faster, both in terms of knowledge and technology, but Lithuania would have gone down this path anyways, and we are happy to be able to do it faster through partnership with Taiwan," Armonaite said.
The Ministry for the Economy and Innovation said in December that it had signed a contract with Teltonika Group providing for the establishment of the Teltonika High-Tech Hill Stage II technology park on a 14-hectare site on the outskirts of Vilnius by 2029.
The group will invest 96 million euros and crate 700 jobs.
Arvydas Paukstys, Teltonika founder and president, earlier told BNS the project would be implemented in cooperation with Taiwan's Industrial Technology Research Institute.
Eric Huang, head of the Taiwanese Representative Office in Lithuania, said last November that following the Lithuanian and Taiwanese governments' agreement, the Taiwanese institute would cooperate with Teltonika IoT Group and co-found the construction of a chip production facility.