VISIT OF LITHUANIAN MINISTER OF THE ECONOMY AND INNOVATION

VISIT OF LITHUANIAN MINISTER OF THE ECONOMY AND INNOVATION

#corporatenews

August 4, 2021

On August 6, the Minister of the Economy and Innovation of the Republic of Lithuania, Aušrinė Armonaitė, together with her advisors and the Vice-Minister, visited Teltonika. The meeting took place at Teltonika EMS. Founder and President of Teltonika IoT Group Arvydas Paukštys, CEO of Teltonika EMS Simas Rutkauskas, and Chief Corporate Marketing Officer Julius Švagždys participated in the meeting. The purpose of the visit was to discuss the problems faced by businesses in Lithuania.

The head of Teltonika EMS gave the guests a tour of the factory. He presented the products developed at Teltonika and demonstrated the modern technologies installed, including 100 robotic systems. Simas Rutkauskas also shared that Teltonika EMS plans to increase its production capacity by installing one more robotic line. It should also be mentioned that as employees started to work with automated systems, their skills improved. 

The president of Teltonika IoT Group mentioned the shortage of required specialists in the Lithuanian market today. He also emphasised the importance of employee training and growth as well as finding new talents. The meeting participants also discussed Teltonika’s cooperation with universities to improve the quality of studies, promote engineering studies and encourage young people to choose a career in technology. One of the key aspects of this cooperation is Teltonika’s scholarship programme, which is open to first-year engineering and IT students. They can apply to receive a scholarship of €3 000. 

In addition, we had an excellent opportunity to present Teltonika’s expansion plans in Lithuania – Teltonika Technology Centre in Molėtai and Teltonika High-Tech Hill technology park in Liepkalnis, Vilnius. Together, these two building complexes will create more than 2 500 new jobs.

The main focus of the meeting was the establishment of a semiconductor industry in Lithuania. Arvydas Paukštys highlighted that a semiconductor chip industry would help Lithuania become independent from external suppliers and bring as much as €2 billion of added value annually to the country. Setting up such an industry requires an investment of around €2,5-3 billion. During the conversation, the Minister of the Economy and Innovation touched upon the possibility of the State contributing towards the expansion of Teltonika abroad by building diplomatic relations.

Another crucial issue raised during the visit was product certification in Lithuania. Companies constantly face challenges in getting their products certified. They have to turn to foreign countries as Lithuania has no institutions dealing with this critical process. The Minister stressed that more and more companies in Lithuania encounter this problem. Therefore, the Ministry of the Economy and Innovation will work to address it and help Lithuanian businesses grow faster.

The subject of innovations was on the agenda as well. We presented our high-tech devices, such as our medical smartwatch that detects atrial fibrillation. Production of the watch will start soon.

Minister Aušrinė Armonaitė expressed her gratitude to Teltonika IoT Group for choosing stable development paths and creating great value for Lithuania. We were pleased to welcome the Minister to our company, and now we get back to work to help Lithuania prosper.

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