Taiwan announces first investment in Lithuania
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Two more investments in Lithuania will be announced by Taiwan later this year or by early 2023.
PHOTO: AFP
VILNIUS - Taiwan’s National Development Fund will invest €3.5 million (S$4.9 million) in Lithuanian tech company Litilit, the head of the Taiwanese representative office in Vilnius said on Monday.
Two more investments in Lithuania will be announced later this year or by early 2023 to bring the total to €10 million, Taiwan said.
The Litilit investment was the first made by Taiwan’s US$200 million (S$281 million) Central and Eastern Europe Investment fund, set up after Lithuania allowed Taiwan to open a de-facto embassy on its soil last year, angering China.
The equity fund focuses on Lithuania, Slovakia and the Czech Republic.
China claims Taiwan as its own territory.
Beijing has downgraded diplomatic relations with Lithuania and pressured multinational companies to sever ties with the Baltic nation of 2.8 million people. REUTERS
