President of the Republic of Lithuania

The President: Lithuania is a prime example of how investments into security leverage economic growth

2020-02-14

During the visit to the 56th Munich Security Conference, President Gitanas Nausėda attended a high-level investors debate on the economic development of Lithuania and the Baltic States.

Over 30 founders and executives of international financial and investment management corporations, and venture capital funds who attended the debate shared their views on security challenges in the region and how they impact economic development and business opportunities. The President emphasized the increased risk of cyber and hybrid threats and the achievements of Lithuania and neighboring countries in fighting these challenges. President Nausėda reminded that Lithuania was recognized as the 4th best country according to the Global Cyber Security Index and had established one of the most advanced cyber threat prevention and response centers in Europe.

“Lithuania is a prime example of how country’s security threats become a prerequisite for economic and innovation development. We improve the tools and solutions aimed at dealing with cyber and hybrid threats every day, because hostile powers are also continuously improving their methods. Development and improvement of innovative solutions in the area have become our competitive advantage across Europe, and business communities have been quick to spot the advantage and adapt the country’s infrastructure to business processes,” the President said, adding that the Miltech innovation market in Lithuania is expanding rapidly. Lithuania has already established a venture fund for military technology start-ups and international innovation development events are held. Our country maintains active contacts with NATO and EU policymakers in security and special forces, as well as with military technology innovators around the world.

Lithuania’s achievements in financial technology, lasers, IT, and life sciences were presented to potential investors placing an emphasis on favorable infrastructure for start-ups and efficient business development.

During the Munich Security Conference, the President met with Oliver Zips, BMW’s chief executive, to discuss opportunities for developing the automotive business in Lithuania, as well as learn more about the country’s photonics clusters. The President suggested Mr. Zips to see Lithuania’s infrastructure for the IT development centers, development of innovations and car testing techniques. Lithuania’s goals in the green economy were also addressed at the meeting. The President reminded the investors that Lithuania was committed to achieving climate neutrality by 2050, was also doing better than the EU average in terms of the use of renewable energy, actively supported the current green direction of the European Commission and encouraged green investments.

The President‘s Communication Group

Last updated 2020.02.14 19:51

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