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Dutch tech company to invest in Lithuania

Xinhua, February 2, 2017 Adjust font size:

Dutch technology company Macaw has decided to invest in Lithuania's capital so as to establish the company's first office outside its domestic market, Invest Lithuania agency announced in a statement released on Wednesday.

"Lithuania's IT (information technology) cluster is now at a mature stage. Consequently, further growth is only possible by attracting projects that require particularly high competence," Mantas Katinas, managing director of the foreign investment promotion agency Invest Lithuania, was quoted as saying in the statement.

In his words, Macaw offered high-end integrated business solutions.

"With its unique company culture, this company will indeed be very attractive for IT specialists," Katinas underlined.

As he explained, Macaw is an award-winning employer and digital solution provider. It plans to employ about 20 information technology specialists in its Vilnius office. This number is expected to grow to more than 200 professionals within the next few years. Currently, the company has a team of 250 in the Netherlands.

"Lithuania is attractive for us for its highly qualified specialists, geographical situation and cultural similarities to the Netherlands," William van der Pijl, Macaw's chief executive officer, was quoted as saying in the statement.

Invest Lithuania announced earlier that 2016 had been a record-breaking year for the agency as it attracted 36 foreign direct investment projects in Lithuania. These projects are set to create more than 3,700 jobs in Lithuania over the next three years.

Total investments by foreign investors in physical assets in Lithuania increased to 135.2 million euros in 2016 from 126 million euros in 2015.

Macaw's total revenues amounted to 25 billion euros (27 billion U.S. dollars) in 2016, according to local website vz.lt. (1 euro = 1.08 U.S. dollars) Endit