EU – Baltic States, Good for Business, Investments, Lithuania, Technology

The company initially plans to recruit 10 highly skilled IT professionals, who will work on further developing products created in Italy for the company's largest customers. Further down the line, Valuetech expects to expand both the number of employees they have in Lithuania, and the functions they will perform.

Valuetech is part of the TRIM company group, which was founded in 1999 and currently provides software and IT services to customers such as Fiat Group, Iveco, IBM, CapGemini, KPMG and Ferrero. The systems the Lithuanian team will be working on are intended for the TRIM group's most important customers, such as national banks. Whilst the Lithuanian team will be working on improving solutions developed in Italy up until 2015, once a full team has been formed the branch should perform independent business functions and therefore ensure the company's development in Central and Eastern European markets, says Giampiero Costantini, partner at Valuetech.

"We have been discussing the idea of expansion for several years. Our company takes on Lithuanian students as part of their practical experience in the Erasmus programme, and so we have got to know them and have found that their level of training is very high. They learn quickly and almost all speak perfect English. This experience led us to think about investing in Lithuania and using Lithuanian competencies to consolidate our positions in other European countries," Costantini said. "However, the final decision was made in 2013 after a visit to the Silicon Valley to the Baltics and ICT 2013 events. We saw that Lithuania can offer not only good employees, but also highly developed IT infrastructure and a transparent tax system. Finally, Invest Lithuania and our private partners made a great contribution to project, helping to ensure a smooth start to the business."