Thierry Breton and Minister Armonaitė visited high-tech Lithuanian capital company Teltonika, which has announced intentions to invest more than EUR 3.7 billion in semiconductor and high-tech design and production over the next ten years.
‘The security situation in Europe has changed dramatically in just one week and we are now facing a completely different reality. We unanimously agree that the EU needs to increase investment in defence innovation and cyber growth. Equally, we must keep in mind economic security and economic growth in our country. Lithuania aims to create a local semiconductors centre so that our companies can play an important role in regional supply chains. This way, we hope to meet the needs of local industry and contribute to strengthening the EU’s positions in this very strategic market,’ says Minister of the Economy and Innovation Aušrinė Armonaitė.
Minister also stresses that Lithuania strongly welcomes the newly adopted European Chips Act, according to which the semiconductors market share in the EU should double from 10 % to 20 % by 2030. More than EUR 43 billion of public and private investment is to be aimed to achieve this objective.
‘The development of major semiconductor projects in Germany or France will not be enough to achieve the ambitious objectives set; there will also be smaller projects Lithuania will certainly be involved in. Lithuania actively participates in the format of Important Projects of Common European Interest (IPCEI) and has sufficient potential to contribute to the EU’s plans to get established in the global chips market,’ says Minister Armonaitė.
It is very important that Lithuanian businesses are willing to participate and invest in these projects because it is the business that has to undertake projects like this. The Ministry of the Economy and Innovation aims to create the best possible environment for investments and reduce the bureaucratic burden on business, which is among the Ministry’s priorities.
