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Rising Chinese investors’ interest in Lithuania

Date

2015 10 07

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On Wednesday, Prime Minister Algirdas Butkevičius has met with Li Xiaopeng, President of one of the largest China’s state-owned corporations China Merchants Group (CMG) and the delegation to discuss investment opportunities in Lithuania, Chinese delegation’s plans for our country, and to sign a letter of intent between Klaipėda Seaport Authority, logistics services company VPA Logistics and the CMG.

“Today, we have seen signing of letters of intent between the CMG and Klaipėda State Seaport Authority and logistics services company VPA Logistics. This is a major step towards strengthening the Lithuania-China partnership on transport and logistics. The Chinese side has informed us that the CMG has chosen Lithuania for the implementation of China’s Silk Road Strategy. The corporation plans to set up a one-road, one economic cooperation centre in Lithuania, comprising transport and industrial complex”, said the Prime Minister.

The Prime Minister has pointed out Government’s consistent efforts, together with business organizations, to continue to create a favourable investment environment in Lithuania. “Lithuania’s geographic location and skilled labour supply provide good opportunity to participate closely in building regional and global transport networks and thus ensuring economic development. We did everything to simplify recruitment procedure for highly qualified workers from third countries, I think it’s very important for corporations planning to open up business in Lithuania as China Merchants Group”, said the Head of Government.

Prime Minister has welcome the growing Lithuania-China relations. “In summer, we had the honour to meet with your country’s Deputy Premier Gaoly Zhang, while late November I myself will be going to China to attend the Central and Eastern European leaders (1 + 16) meeting. I would like to note that Lithuania is ready to further expand bilateral economic and trade relations, to promote cooperation based on mutual respect and equality”, said the Prime Minister.

This is the second high-level meeting with the leadership of the corporation, after Prime Minister’s meeting with Chairman of the Board of China Merchants Group, Li Jianhong in May, where  letters of intent had been signed between the China Merchants Group and Lithuanian Railways, Klaipėda State Seaport and Kaunas free economic zone.

China Merchants Group is one of the largest Chinese state companies, leading China’s state port operators. The company also provides banking, securities, insurance and brokerage, fund management and fund services, securities issues, online stock trading services, as well as a direct investment management services platform. The company was founded in 1872 with its headquarters based in Hong Kong.