VILNIUS – The Taiwanese Representative Office in Lithuania on Wednesday confirmed plans to invest 200 million US dollars in the country in the near future.
"Taiwan is setting up an investment fund with an initial funding of 200 million US dollars to invest in Lithuanian industries which are strategic for both Lithuania and Taiwan, for long-term economic developments," Eric Huang, the head of the office, told a news conference.
The strategic investment fund will be funded by Taiwan’s national development fund and private sector companies, according to Huang.
"The fund has a lot of experience and expertise in the development of advanced industries," he said.
The investment package is part of Taiwan's action plan to develop economic ties with Lithuania in the face of pressure from China which Taipei says is unprecedented and in breach of international law.
The plan also calls for setting up a special task group to facilitate cooperation between Lithuanian and Taiwanese businesses and for taking over Lithuanian goods blocked by China, including in urgent cases.
Huang told the news conference that he expected to see the results of these efforts "within the next few months".