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Innovative prospects for Lithuanian and Norwegian businesses

Created: 2018.04.25 / Updated: 2018.04.25 17:16
    Innovative prospects for Lithuanian and Norwegian businesses

    President Dalia Grybauskaitė together with Crown Prince Haakon and Crown Princess Mette-Marit of Norway opened a Lithuanian-Norwegian Business Forum in Vilnius. The event, gathering over 200 business representatives from both countries, places a specific focus on technologies inspiring growth and progress.

    According to the President, Norwegian businesses - which were among the first to come to re-born Lithuania - had a much bigger mission than only to earn profits. They came to share experience, values and business ethics. Today Lithuania and Norway stand along each other as equal partners linked by strong business ties, trust and the same vision of an open, innovative and dynamic future economy.

    For nearly three decades, Norwegian businesses have been willingly investing in Lithuania. More than 250 Norwegian investors do business here, including the electronics manufacturing services company Kitron, insurance company Gjensidige, business software and services supplier Visma. Norwegian companies operate not only in the largest cities of Lithuania, but also in Panevėžys, Tauragė, Alytus, and Utena. Lithuania is Norway’s biggest export partner among the Baltic states. Their bilateral trade has increased more than twofold over the last five years and currently amounts to 1.2 billion euros. The Norwegian business is the key partner of Lithuania in developing the Klaipėda LNG terminal’s activities.

    According to the President, all of this creates a strong foundation for building up cooperation, especially in innovation and technologies. There already exist very successful business contacts. Norway’s NRD Companies, managed by Lithuania’s INVL Technology, together with Lithuanian company NRD CS are developing cyber security technologies exported to many places of the globe, such as countries in Africa and South Asia. Norway places special emphasis on biotechnologies, nanotechnologies and green technologies. Lithuania, meanwhile, is a newly emerging hub of life sciences - which opens up many new avenues for cooperation in this sector. There is also much potential for collaborative work in energy, defense and financial technologies.

    Lithuania and Norway stand in the same line on sustainable and socially responsible business. Therefore, a new joint project was introduced at the business forum: an electric velomobile designed in Norway and assembled in Lithuania. It is yet another example of successful innovative cooperation.

     A large business delegation from Norway - who came together with the royal couple to Lithuania - were present at the business forum. The delegation includes representatives from Konsberg, Kitron, Reitan Group and other Norwegian companies engaged in the defense industry, engineering and other sectors. Innovation, smart technologies, sustainable business, and the environment are among the areas of special interest to the Crown Prince and Crown Princess of Norway.

     

    Source: Press Service of the President of the Republic of Lithuania

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