Under the agreement, Teltonika will acquire the right to use the licences for semiconductor chip manufacturing technologies and devices developed by the Taiwanese institute.“We have enough potential to establish ourselves in the global semiconductor market, and this partnership with Taiwan will help Lithuania to move forward rapidly, to match the world’s strongest players, and to realise our ambitious goals,” Aušrinė Armonaitė, Lithuanian Economy and Innovation Minister, said in a statement.According to Arvydas Paukštis, founder and president of Teltonika IoT Group, this will be the largest cooperation project between Taiwan’s Industrial Technology Research Institute and a foreign country.“This agreement proves that we are capable and reliable partners for such complex projects.I believe that the implementation of the planned works will help Lithuania to be among the most advanced countries in the world,” he said."