VILNIUS — Money transfer agent Western Union will set up a new operations center in Lithuania later this year that will create 200 jobs.

The company will be the third major foreign company to start a center in Lithuania this year after Barclays bank opened their IT center earlier this year. Computer company IBM has also signed a letter of intent that it will open a research facility near Vilnius. The investment is good news for Lithuania, where rising unemployment is a [private_supervisor]problem.

The Lithuanian Ministry of Economy signed a letter of intent with Western Union for the center that will make around 200 jobs over the next three years.

“It is a great pleasure to us that a worldwide innovator in financial services such as Western Union has chosen to come to Lithuania. This investment in the service sector is one more opportunity to show to the world the talent that exists in Lithuania and our high value-added services,” Minister of Economy Dainius Kreivys said in a press release.

David Larkworthy, Western Union’s Senior Vice President & Head of Operating Strategy said Vilnius was selected as an attractive location because of its strong talent pool of highly-skilled, well educated and multilingual professionals, its stable political and improving economic climate and infrastructure. He also said the the government’s policy in attracting foreign direct investments had been a factor.

The Global Operation Center will handle back-office processing functions and complement other global operations centers of Western Union.

The letter of intent is an end point to a year of work by people within the country.

“We have been working with this project for one year already, so we are very glad to hear that Western Union has evaluated Lithuania as a good business opportunity and the best place for its world-class operations center“, said Mantas Nocius, Managing Director of Invest Lithuania.

Lithuania has become more competitive in Europe after its internal devaluation last year saw wages drop significantly. Cuts to all public sectors led to higher unemployment and dropping prices and wages during 2009, when the economy shrank by 15 percent year on year. [/private_supervisor] [private_subscription 1 month]problem.

The Lithuanian Ministry of Economy signed a letter of intent with Western Union for the center that will make around 200 jobs over the next three years.

“It is a great pleasure to us that a worldwide innovator in financial services such as Western Union has chosen to come to Lithuania. This investment in the service sector is one more opportunity to show to the world the talent that exists in Lithuania and our high value-added services,” Minister of Economy Dainius Kreivys said in a press release.

David Larkworthy, Western Union’s Senior Vice President & Head of Operating Strategy said Vilnius was selected as an attractive location because of its strong talent pool of highly-skilled, well educated and multilingual professionals, its stable political and improving economic climate and infrastructure. He also said the the government’s policy in attracting foreign direct investments had been a factor.

The Global Operation Center will handle back-office processing functions and complement other global operations centers of Western Union.

The letter of intent is an end point to a year of work by people within the country.

“We have been working with this project for one year already, so we are very glad to hear that Western Union has evaluated Lithuania as a good business opportunity and the best place for its world-class operations center“, said Mantas Nocius, Managing Director of Invest Lithuania.

Lithuania has become more competitive in Europe after its internal devaluation last year saw wages drop significantly. Cuts to all public sectors led to higher unemployment and dropping prices and wages during 2009, when the economy shrank by 15 percent year on year. [/private_subscription 1 month] [private_subscription 4 months]problem.

The Lithuanian Ministry of Economy signed a letter of intent with Western Union for the center that will make around 200 jobs over the next three years.

“It is a great pleasure to us that a worldwide innovator in financial services such as Western Union has chosen to come to Lithuania. This investment in the service sector is one more opportunity to show to the world the talent that exists in Lithuania and our high value-added services,” Minister of Economy Dainius Kreivys said in a press release.

David Larkworthy, Western Union’s Senior Vice President & Head of Operating Strategy said Vilnius was selected as an attractive location because of its strong talent pool of highly-skilled, well educated and multilingual professionals, its stable political and improving economic climate and infrastructure. He also said the the government’s policy in attracting foreign direct investments had been a factor.

The Global Operation Center will handle back-office processing functions and complement other global operations centers of Western Union.

The letter of intent is an end point to a year of work by people within the country.

“We have been working with this project for one year already, so we are very glad to hear that Western Union has evaluated Lithuania as a good business opportunity and the best place for its world-class operations center“, said Mantas Nocius, Managing Director of Invest Lithuania.

Lithuania has become more competitive in Europe after its internal devaluation last year saw wages drop significantly. Cuts to all public sectors led to higher unemployment and dropping prices and wages during 2009, when the economy shrank by 15 percent year on year. [/private_subscription 4 months] [private_subscription 1 year]problem.

The Lithuanian Ministry of Economy signed a letter of intent with Western Union for the center that will make around 200 jobs over the next three years.

“It is a great pleasure to us that a worldwide innovator in financial services such as Western Union has chosen to come to Lithuania. This investment in the service sector is one more opportunity to show to the world the talent that exists in Lithuania and our high value-added services,” Minister of Economy Dainius Kreivys said in a press release.

David Larkworthy, Western Union’s Senior Vice President & Head of Operating Strategy said Vilnius was selected as an attractive location because of its strong talent pool of highly-skilled, well educated and multilingual professionals, its stable political and improving economic climate and infrastructure. He also said the the government’s policy in attracting foreign direct investments had been a factor.

The Global Operation Center will handle back-office processing functions and complement other global operations centers of Western Union.

The letter of intent is an end point to a year of work by people within the country.

“We have been working with this project for one year already, so we are very glad to hear that Western Union has evaluated Lithuania as a good business opportunity and the best place for its world-class operations center“, said Mantas Nocius, Managing Director of Invest Lithuania.

Lithuania has become more competitive in Europe after its internal devaluation last year saw wages drop significantly. Cuts to all public sectors led to higher unemployment and dropping prices and wages during 2009, when the economy shrank by 15 percent year on year. [/private_subscription 1 year]

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