The greatest share of the Central and Eastern Europe-focused Taiwanese investment fund, worth 200 million US dollars, will be directed to Lithuania, Mitch Yang, the managing partner of the fund, has said.
“Our fund will invest in Central and Eastern Europe. The main countries will be Lithuania, the Czech Republic, and Slovakia. Around 60 to 80 percent of the fund will go here, which is around 120-160 million US dollars,” Yang said on Wednesday at the Lithuanian Davos 2022 Economic Forum.
“But I have to tell you something – you are our number one choice,” the fund manager added.
According to Yang, the fund, which was established in March, will invest in areas considered strategic for cooperation between Lithuania and Taiwan, as well as for the development of production and trade. These include semiconductors, laser optics, biotechnology, aerospace, fintech, electric vehicles, smart manufacturing, software development, and smart city solutions.
Serious negotiations are already underway to establish a joint venture with a Lithuanian laser manufacturer, the Taiwanese fund manager said.
“There is currently one Lithuanian and one Taiwanese company looking for opportunities to collaborate on laser optics and semiconductor solutions. There is a possibility that we will set up a joint production venture in Lithuania,” Yang said.
“We are very serious about this. The president of a Taiwanese company promises to visit Lithuania in the next 10 days to discuss business plans,” he added.
In January this year, Taiwan announced its plans to invest 200 million US dollars in Lithuania to help the country’s businesses affected by Chinese pressure.
In May, Taiwan decided to use the fund to invest not only in Lithuania but also in other Central and Eastern European countries. The fund is managed by the venture capital firm Taiwania Capital.
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