VILNIUS – Following its first investment in Lithuania, Taiwan intends to continue investing in new projects in the country, Eric Huang, head of Taiwan’s representative office in Lithuania, has said.
“There are additional cases in the pipeline to be finalized before the end of this year. There are also many other potential cases in the background for the next year and the year after,” he said during an event held in Vilnius on Monday to present a 3.5-million-euro investment in Litilit, a Lithuanian startup developing laser technology, by Taiwanese venture capital fund Taiwania Capital – the first Taiwanese investment from the 200-million-US-dollar investment package for Central and Eastern Europe, unveiled earlier this year.
“Taiwan’s investment fund has decided to invest 3.5 million euros in Litilit and become a strategic partner for Litilit, for its future growth. Taiwan utilized its strong expertise and partnership with technology industries in Taiwan, Asia-Pacific and the US to help Litilit grow,” Huang said.
“Our strategy is to help Lithuanian companies to grow," he added.
The head of Taiwan’s representative office in Lithuania said that following the agreement reached by the governments of Lithuania and Taiwan, the Industrial Technology Research Institute of Taiwan would cooperate with Teltonika IoT Group, the developer of internet of things solutions, in the development of semiconductor design and manufacturing technologies.
“With bilateral cooperation of both governments, Taiwan has decided to commission its Industrial Technology Research Institute to directly cooperate with Teltonika – a leading Lithuanian electronics manufacturer – to build its semiconductor technology capabilities through a total solution package,” Huang said adding that details should be agreed on within the next few weeks.
He also spoke about the ongoing process to allow supply of Lithuanian beef to Taiwan.
“We hope that if it goes smoothly we can grant a permit for Lithuanian beef before the end of this year,” Huang said.
According to him, Lithuania’s exports to Taiwan rose by 30 percent in the first half of this year compared to the year before.
“I hope Lithuanian and Taiwanese companies will be able to work together in order to supply high quality Lithuanian food products to Taiwanese people,” Huang added.