Employment, Investments, Lithuania, Technology

The centre of Ideal Invent Technologies will start operating this year. It will be set up in the Sauletekio Slenis (Sunrise Valley) science and technology park. The company plans to invest 3.4 million litas (0.984 million euros) and create 110 jobs over the three coming years.

"I am delighted that we have managed to attract service centres not only from the United States and the United Kingdom, but also from India where IT companies are growing rapidly. An increase in foreign investment in our services sector shows that we are able to offer and we do offer excellent specialists and high value-added services to global corporations," Economy Minister Dainius Kreivys said.

The centre will provide services to banks, financial services and insurance companies. It will also assist companies in providing services in western and eastern Europe. The centre's key task will be to develop the Payment Grid system which will enable banks of over 40 countries to be part of a domestic payment system.

In 2009, 28 foreign investors entered the Lithuanian market with the total investment of over 3.5 billion litas (1 billion euros) and created 5,300 new jobs.