2019.07.25 10:59

Alibaba billionaire founder Jack Ma spotted in Vilnius

Founder of the Chinese giant Alibaba, Jack Ma, was spotted in Vilnius on Wednesday.

Lithuania’s Economy and Innovation Minister Virginijus Sinkevičius confirmed Ma is on a visit to Vilnius, but did not provide more details.

In 2016, Lithuania’s then Prime Minister Algirdas Butkevičius invited Aliexpress to open a logistics and packaging centre in the country while on a visit to China.

Back then, Ma told LRT TV that he was well aware of Lithuania’s IT infrastructure, and was impressed by the level of education in the country.

Jack Ma is known to visit the country personally before choosing to invest there. In 2018, Belgium’s Liège became the first Alibaba logistics hub in Europe.

Alibaba Group specializes in e-commerce and is seen as the main competitor to Amazon. As of July 24, 2019, its market cap stood at 465 billion USD.