aA
Lithuania’s Prime Minister Algirdas Butkevičius has invited China’s online retail giant Alibaba Group to set up a logistics and packing center in Lithuania.
Algirdas Butkevičius
Algirdas Butkevičius
© DELFI / Tomas Vinickas

“Lithuania has a good business climate. The World Bank ranks us among 20 world countries with the most favourable environment for business creation,” Algirdas Butkevičius said in a press release.

Butkevičius, who met with Alibaba Group founder and executive chairman Jack Ma during his official visit to China, pointed out that the Lithuanian postal service was among the Chinese company's partners. Moreover, Lithuania has five free economic zones that could offer favourable terms for investment, he added.

According to the government’s press service, Jack Ma said that the company was interested in developing operations in Eastern Europe and saw Lithuania as a country that could become a gatewaybetween the Asian market and the Euro area and all of Europe. He also said that Butkevičius’ proposal to establish a logistical center was noteworthy and promised to consider an invitation to pay a visit to Lithuania.

Alibaba Group describes itself as the largest online and mobile commerce company in the world in terms of gross merchandise volume. Its market capitalization amounted to $259 billion US dollars in 2014.

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

Finance minister: coronavirus to affect economy

The widening coronavirus outbreak will have implications for the Lithuanian economy , Finance...

Lithuanian businesses might feel coronavirus effect in spring

The coronavirus outbreak in China is already affecting Lithuanian businesses as some companies...

Leader in gaming and VR platforms to undergo major expansion in Lithuania

Unity Technologies , creator of the world’s most widely used real-time development platform for...

German polymer specialist establishing microduct systems production unit in Klaipeda

REHAU , a family-owned polymer specialist with annual sales of around EUR 3.5 billion, is...

Five cities may get another EUR 30 mln to buy electric buses

Lithuania's authorities are considering providing another 30 million euros in EU money to Vilnius,...

Top news

Lithuania declares nationwide emergency due to coronavirus threat

The Lithuanian government declared on Wednesday a nationwide emergency in an effort to minimize...

Installation of Chinese CCTV in Kaunas raises security concern

The installation of a CCTV system produced by Chinese company Hikvision in Lithuania's...

Police chief in Kaunas Zukauskas sacked

Darius Zukauskas , chief of Kaunas County Chief Police Commissariat , has been dismissed from the...

Lithuanian author long-listed for prestigious UK literary award

Noir Press announced that Lithuanian author Grigory Kanovich has just been long-listed for the...

Lithuanian model Ieva hits the London Fashion Week catwalk

A Lithuanian student from Kėdainiai swapped designing clothes for modelling them at one of the...