It is a record result of foreign direct investments (FDIs) that should be seen in a wider context, the agency’s head has said.
"We have managed to improve our fixed asset investment performance once again as compared to the results of the previous year, which is a win for Lithuania. But looking at the bigger picture, we are in a very difficult situation: the EU’s competitiveness is deteriorating and the geopolitical situation is not getting better," Eligijus Čivilis said.
Lithuania needs systemic changes to further increase the value added by foreign investment and strengthen its competitive edge in the region, according to the head of Invest Lithuania.
He said solutions could range from financial incentives and future-oriented infrastructure to reducing regulatory burdens and training e and attracting talent.
"These are relevant not only for foreign investors, but also for Lithuanian investors, if we want to keep the most innovative local businesses here," Čivilis explained.
Investments in the manufacturing sector beat the record in 2024, according to the agency. Last year, foreign companies confirmed their plans to invest a total of EUR 351 million in Lithuania. This is almost EUR 144 million more than the previous record year of 2023. A total of seven manufacturing projects were approved last year – four new ones and three expansion projects.
German arms giant Rheinmetall’s munitions plant in Baisogala stands out for its strategic importance. The investment in the project exceeds EUR 180 million, with around 150 new jobs in plans.