Lithuania to offer €10m to foreign investors for research

Lithuania's Ministry of Economy to distribute €10 million from EU funds to foreign companies willing to invest in research in the country.
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"We will distribute the EU funds to foreign investors who are engaged in the activities of scientific research and experimental development, who are building or expanding infrastructure of a company working in this area, and who are implementing innovations. Also, applicants will be asked to reserve at least 20 percent of the new jobs for researchers and keep them for at least five years. Applications from foreign investors are welcome until 11 April," said Lithuanian Economy Minister Evaldas Gustas.

The funds will be distributed under the measure SmartInvest LT+. They can be used to buy scientific research equipment, perform scientific research, hire personnel, purchase required materials, patents and licences.

In total, the Economy Ministry is planning to distribute €28.96 million of EU investments under SmartInvest LT+ by 2020.

Elta EN
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