💰 Taiwan to invest 10 mln euros towards chip production in Lithuania

TL;DR

VILNIUS, Nov 7 (Reuters) - Taiwan, the world's biggest supplier of semiconductors, will invest more than 10 million euros ($9.98 million) towards chip production in Lithuania, the head of the Taiwanese representative office in Vilnius said on Monday.Taiwan's Industrial Technology and Research Institute will cooperate with Lithuania's electronics manufacturer Teltonika to build semiconductor technology capabilities in the Baltic country, said Eric Huang, head of the representative office.Over two dozen Taiwanese scholarships for Lithuanians will be offered for technical training, he added.Beijing subsequently downgraded diplomatic relations with Lithuania, curbed trade and pressured multinational companies to sever ties with the nation of 2.8 million people.The first equity investments totalling 10 million euros in Lithuanian would be completed by early next year, said Huang, adding that first loans amounting to 9 million euros should be dispersed by the end of this month."

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