Foreign Investors in Lithuania: who meets them and how?

June 21, 2021
Lithuania is becoming an increasingly attractive country for foreign investors in various areas. Even in the presence of a pandemic in 2020 our country received the attention of 42 investors. TEC Group of Companies ended the previous year with an exceptional project successfully completed at Kaunas Airport.
The soil for investment is ready

“Invest in Lithuania” takes care of the business development processes of foreign capital companies in Lithuania. Together with the investing company “Invest in Lithuania”, the team solves various issues that arise in the stages of project establishment and implementation.

“The road to Lithuania is different for each investor. Investors in the manufacturing sector have a particularly long way to go. Therefore, when choosing a new location for the development of their activities, these investors carefully analyse all the information about the country: from the existing legal framework, tax environment and supply of necessary talents to the ability to quickly build a factory, develop infrastructure and start operations” – says Nadežda Bausienė, the Head of the Production Team of “Invest in Lithuania“.

Undoubtedly, a favourable business environment, which is being constantly improved, gives Lithuania a great advantage. For example, an exclusive regulation came into force this year, which creates more favourable conditions for the implementation of large investment projects in Lithuania. Within the scope of these projects, investors can be provided not only with corporate tax incentives, but also procedures in the areas of construction, land management, migration, preparation of required talents and etc. can be greatly expedited. This is extremely relevant for businesses that want to start and develop activities in Lithuania quickly.

The First Aircraft Painting Hangar in Lithuania

Foreign investors are implementing more and more projects in Lithuania, and one of them is the project of “MAAS Aviation” in Kaunas Airport. Giedrius Andrulionis, the Head of TEC Consulting, the company that helped with the implementation of the project, tells us about it: “when the investor decides to implement a project in Lithuania, we are happy with every opportunity to offer the services of the Group of Companies”.

Ian Guinness, the Head of Infrastructure of “MAAS Aviation” tells that they have cooperated with TEC on matters of financing, design and construction works. “TEC defeated all the other participants of the tender for the building design and construction that we organised: it is professional and motivated team with great language skills”, – shares I. Guinness.

TEC Group of Companies, entering its twentieth year of operation, adapts the client’s vision to the Lithuanian legal framework, prepares and implements the project. A professional team helps the client to manage the project from the design solutions to the technical supervision and delivery of the object. “We take care of fire and site requirements, assess the impact on the environment, prepare the concept and detail designs as well as take care of the construction management,” – G. Andrulionis describes the process. The team of TEC Group of Companies is responsible for the assurance of the quality of the project works, tracking of materials, and supervision of their quantities.

“Two teams of specialists – “Invest in Lithuania” and TEC Consulting – professionally consulted us throughout the project for the aircraft painting hangar construction. We have future development plans, and we would like to continue working with this team as we implement them,” – says I. Guinness.

Three Teams of Professionals in One  

TEC Group of Companies consists of three companies engaging in different activities: TEC Industry, TEC Infrastructure and TEC Consulting. The abbreviation of the Group of Companies TEC – Technology, Engineering, Consulting – originated after coming up with the idea of uniting these complementary areas and offering clients a wide range of services.

According to Giedrius Andrulionis, the Head of the youngest member of the Group of Companies – TEC Consulting – who has contributed to the uniting of the companies into the group, everything started with two separate companies – “Bioprojektas”, UAB and “Tiltų ekspertų centras”, UAB. Projects abroad have led to the merger of the two companies. After the merger they changed their names into TEC Industry and TEC Infrastructure. TEC Industry designs industrial and energy engineering objects, carries out technical supervision of these projects as well as supervision of project implementation, and provides other engineering services, while TEC Infrastructure designs, consults and provides technical supervision services in the field of transport infrastructure. A need for the third member of the Group of Companies – TEC Consulting – arose later on, which provides the services of construction project management, technical supervision and commissioning-adjustment of technological equipment.

The turnover of the Group of Companies in 2020 exceeded 5 million euros, and the sustainable growth of the company was discussed at the strategic session of the Board held at the end of the year. The Group of Companies is expected to continue to grow steadily – by 10-20% per year. A number of projects in Lithuania and abroad are planned for the coming years. “We have learned to work in the Western-style, so we can really offer both quality and proper deadline both in Lithuania and in the international market,” – comments G. Andrulionis.