The Lithuanian Minister of the Economy and Innovation, Aušrinė Armonaitė, has signed an agreement for Rheinmetall, a German military industry giant, to establish operations in Lithuania.

This move is seen as a significant step towards strengthening Lithuania’s defence sector, with the site of the investment project expected to be announced in the coming weeks.

The ‘Green Corridor’ initiative, developed by the Ministry of the Economy and innovation, provides incentives for large-scale investment projects in Lithuania, including a state importance status and a 0% corporate tax rate for up to 20 years.