Vice-Minister of Finance V. Markevičienė: "Lithuania can offer Taiwan the export of financial technology and services"
Vice-Minister of Finance of Lithuania Vaida Markevičienė, who is visiting Taipei with a business mission, met with representatives of the banking, financial and insurance sectors of Taiwan and invited them to use Lithuania's experience and expert assistance in digitizing the financial sector and implementing the development of Fintech. According to her, the Fintech sector in Lithuania has shown not only rapid growth over the past few years, but has also reached such a level of maturity that the knowledge and services of professionals in this field can be exported to other countries.
"Lithuania has already established itself on the world map as one of the fastest growing players in the Fintech sector in Europe. And our country's information and financial technology professionals have accumulated sufficient competences and experience, which help the financial services sector to develop digital transformation. Our aim is to encourage the export of Lithuanian financial technology and services, and we believe that this experience of ours can be useful for Taiwan," said Vice-Minister of Finance V. Markevičienė.
The Vice-Minister emphasized that the export of Lithuanian financial technology and services is one of the consistently implemented steps of this Government.
The Action Plan for the Development of the Fintech Sector in Lithuania for 2023-2028 approved by the Government in June this year establishes promotion of the export of Fintech services and products to the EU and target markets (e.g. Israel, the United Kingdom, the United States of America, Taiwan) using the network of the Lithuanian diplomatic missions and other possibilities.
In the guidelines for the development of the Fintech sector in Lithuania prepared by the Ministry of Finance with partners, great attention is paid to the education of highly qualified talents. It is planned to strengthen cooperation with higher education institutions, a significant number of which have already initiated programmes or courses aimed at training specialists needed in Fintech – this will allow maintaining stable and sustainable growth of the sector in the future and exporting highly qualified services to other countries.
The development of mutual economic relations is supported by a trade representative of the Republic of Lithuania that started operating in Taipei in September 2022, and the Lithuanian Trade Representative Office in Taipei was officially opened in on 7 November 2022.
Last updated: 25-10-2023
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