Attractive Sectors

 

Lithuanians are famous for their diligence, and foreign entrepreneurs appreciate their good qualifications and high motivation. An old Chinese proverb says: “If you want one year of prosperity, grow grain. If you want 10 years of prosperity, grow trees. If you want 100 years of prosperity, grow people”. Lithuania successfully applies this wisdom and pays special attention to the quality of education and training of its people. The exceptionally high level of education of the Lithuanian people enables the country to create a higher added value and ensures its rapid economic development.         

A strategic vision of Lithuania is to become a Northern Europe Services Hub and Centre of Excellence and Innovation for Traditional Industries by 2015, and Northern Europe Innovations Centre by 2020. The Lithuanian Government aims for the following three objectives: high value-added services, technological hubs, and innovative and consolidated traditional industry.

Lithuania has a well developed business infrastructure.

Photo by G. Savickis / Elta

    

SHARED SERVICES AND BUSINESS PROCESS OUTSOURCING (BPO)

The Lithuanian Government has set a strategic goal to be achieved by the country by the year 2015 - to become the Northern Europe Service Hub. By 2015 the share of exports of services should make approximately 1/3 of Lithuania’s total exports. Similarly, it is expected that 1/3 of the total FDI in Lithuania will settle down in the services sector by 2012.

Lithuania ranks 21st best services location in A.T.Kearney Global Services Location Index 2009.

  • 15 investment projects in business services in 2008-2010 from companies such as Barclays bank of the UK, Mirror Accounting/Lindorff of Norway etc., Computer Sciences Corporation (CSC)
  • ~30% of population with higher education – one of the best-educated workforces in CEE
  • ~90% of Lithuanians speak at least one foreign language: every second speaks two foreign languages, every third speaks English
  • 23 universities and 23colleges: more than 30,000 university and college graduates every year
  • Labour pool in finance and insurance of 20,000 (2009)
  • excellent ICT infrastructure

 

INFORMATION AND COMMUNICATION TECHNOLOGIES

Lithuania has the largest ICT industry in the Baltic States. 14 out of the 20 largest IT services companies in the Baltic States are based in Lithuania. Lithuania has got a talent pool of more than 45,000 employees in the ICT and services business. There are 7 universities and 8 colleges with IT curriculums in Lithuania.

Lithuania has the most up-to-date technologies which is one of the major needs to offshore services (EDGE technology, 3G mobile communications infrastructure with data speeds of 3.6 Mbps and mobile WiMAX 4G Internet).

Lithuania has world’s 2nd speediest upload Internet, Europe‘s No. 1 fiber broadband penetration (23 %), EU’s greatest mobile penetration of 147%, and is world’s No. 1 in the number of mobile telephone subscribers per 100 population - 3.4 million of Lithuanians use almost 5 million active SIM cards as well as global leader in mobile e-signature.

It is expected that by 2015 products of IT, laser technologies, biotechnologies, nanotechnologies and materials science will constitute 25 % of Lithuania‘s GDP and 80 % of national export.




BIOTECHNOLOGIES

The Lithuanian biotechnology industry has been developing since the 1990s and is regarded as one of the most sophisticated in Central and Eastern Europe. It is estimated that the sector employs 700 people, including 160 R&D employees, while its total annual revenues exceed EUR 50 million. The success of the Lithuanian biotechnology industry has been reinforced by the return of Lithuanian scientists who had spent over a few years abroad.

Biotech sector of Lithuania represents world-class research. The Lithuanian invention – the medicine against cancer TevaGrastim® is the newest worldly acknowledged medicine which is 25-35% cheaper than a similar treatment already on the market, but just as effective. The European Medicines Agency granted the marketing authorization for the Lithuanian invention to be marketed in Europe from 2009.

According to the Lithuanian Biotechnology Association, Lithuanian biotechnology sector sales have grown by approximately 22% annually for the past 5 years, which is 7% more than the average 15% growth of the global biotechnology sub-sector. 80% of production is exported to over 70 countries manifesting recognition world-wide. According to their number of employees, UAB Fermentas and UAB Sicor Biotech are considered to be major companies in Europe, employing 345 and 170 specialists respectively.

Lithuania is among the world leaders in the biotechnology business.

Photo by  V. Trublenkovas

15 research institutions carry out chemical and biochemical research on protein, enzymes and nucleic acid for pharmaceutical purposes, and also execute molecular biology research on prokaryote and eukaryote cells.

16 institutions, including five major universities, train biotechnology and business specialists in cooperation with both domestic and foreign biotechnology companies.

Medical and Pharmaceutical Valley began in the capital, Vilnius.

 

 LASERS

Laser technology is another high-tech pillar of the Lithuanian economy with the annual growth of 20% and nearly threefold increase in sales over the past 5 years. Lithuania is the world leader capturing 50% of the world market for high-energy pico-second lasers and more than 80% of global production of ultra fast parametric light generators. 86% of Lithuanian laser production is exported to nearly 100 countries ensuring world recognition of quality and diversification of markets.

There are over 10 high-tech companies operating in Lithuania engaged in the development and production of laser technology products. Every tenth laser used in the world has been produced in Lithuania.

 Lithuania captures 50% of the world market for high-energy pico-second lasers.

Photo by E. Paukštė / Ekspla

Major laser physics and technology research centres operate within the largest universities of Lithuania.  Clients of Lithuanian companies include NATO, Penthagon, Nuclear Research Centre in Israel, Rezerford Laboratories in England, Berkley University in the USA, Livermore National Laboratory etc.

  • Global leadership in applying fundamental research to manufacturing
  • Leading in global production of ultra-fast parametric light generators (80 %)
  • Every tenth laser professional holds a PhD
  • 86 % of production exported to nearly 100 countries
  • Winner of the 2011 Prism Award for Photonics Innovation in Scientific laser category (EKSPLA)

Light Conversion

Light Conversion is the world leading manufacturer of continuously wavelength tuneable ultrafast light sources based on TOPAS series of optical parametric amplifiers and frequency mixers. Established in 1994, as a spin-off from Vilnius University Laser Research Centre, the company has built its strength on profound knowledge in the field of optical parametric generation and amplification accumulated by its people.

 

CLEANTECH

Alternative energy development is already accelerating in the country. Lithuania continuously fosters renewable energy deployment (hydro, wind, biomass and solar) aiming at large 23% RES share by 2020. Clean energy technologies, at the same time, are becoming increasingly significant for Lithuania’s exports.
Following the best European practices, Lithuania uses feed-in tariffs to promote renewable energy.

Solar Energy Cluster

In 2010, pursuing rapid growth of the cleantech industry, the Lithuanian Government provided grants for a number of companies to implement experimental (c-Si) photovoltaic cell production project and develop a solar energy cluster in the country. Precizika-MET SC, part of Hexagon global measurement technologies group, pioneered the solar industry development in Lithuania by launching an Industrial Photovoltaic Laboratory in Vilnius at the beginning of 2010.

 

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