Lithuania's foreign investment promoting agency Investuok Lietuvoje (Invest Lithuania) hopes to attract more investment into the so-called red biotechnology to increase the added value created by Lithuania's life sciences industry.
© Gamintojo archyvas

The agency plans to commission a study to asses the country's investment environment.

"The study should look into the weaknesses of Lithuanian biotechnology sector's value proposal for investment we could amend and thus increase the success probability for attracting investment," Gediminas Koryzna, director of the investment development department at Investuok Lietuvoje, told BNS Lithuania.

In his words, the red technology sector has been chosen because of the competence of people in Lithuania, infrastructure and the input that's been already done in the pharmaceutical and medical sectors.

According to Koryzna, there are now some 10 red biotechnology companies operating in Lithuania, creating news medicines and medical diagnostic instruments and treatments.

Investok Lietuvoje has recently called a tender of the market assessment of the red biotechnology market with a preliminary value of 230,000 euros. The winner will be required to carry out a global tendency and greenfield investment analysis and a feasibility study on the biotechnology investment environment and possibilities in Lithuania.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Dairy producers start feeling impact of rising US export duties

Lithuanian dairy producers say they have already felt the impact of duties , rising as of Friday,...

Nauseda doesn't expect EU budget deal by end of 2019

EU member states differ too much in their positions on the bloc's next multi-annual budget to...

Dairy products subject to 25 pct US import tariff

Lithuanian cheeses, yoghurts and other dairy products are now subject to a new 25-percent import...

Nauseda: everybody thinks about plan B despite Brexit deal (1)

The European Union is weighing all options of possible action if the British parliament rejects the...

Nauseda: EU will approve Brexit deal, doubts remain on UK parliament

EU leaders will likely to smoothly approve the recently-reached Brexit deal on Thursday but doubts...