The industry will spend an impressive amount on the digitization of companies

Almost 50 million EUR 99 million is intended to be allocated to enterprise digitization projects in the central and western regions of Lithuania. euros – for a business operating in the capital region.

“We grow and strengthen businesses operating in our country – we direct investments to the automation of production processes of industrial companies, the implementation of robotic systems and digitization technologies. This will make it possible to ensure that business becomes more innovative, competitive and resistant to challenges”, the Minister of Economy and Innovation Aušrinė Armonaitė is quoted as saying in the report.

According to Invegos, companies can expect up to 75 percent. investment project financing, and 25 percent. his sums will have to be contributed by himself or by other private investors.

Several loans can be granted to one borrower, but the total amount of loans cannot exceed 10 million. EUR., and the loan period is no more than 10 years.

According to Artūrs Jakubavičius, head of the Innovation Support Services Department of the Lithuanian Innovation Center, digitization is one of the main conditions for remaining competitive.

The results of the survey of Lithuanian industrial companies conducted in 2023 show that even 91 percent companies plan to invest in the digitization of business processes.

Among them – as much as 80 percent. companies indicated that investments in digitization will be directly related to the modernization or renewal of the efficiency of production processes.

“Of course, not all companies’ investment volumes are the same. Larger companies plan to invest more in digitization, because they have greater potential and it is easier for them to attract investments from banks. Decisions to invest in the digitization of production processes are strategic, as the payback of investments is often planned only after 7-10 years. Therefore, not all investment sources are suitable, long-term instruments are needed. It is likely that this gap will be filled by a financial instrument”, emphasized A. Jakubavičius.

It is planned that it will be possible to apply for funding to “Invega” until 2029. at the end of March or until all funds are used up.