The Ministry of the Economy and Innovation, together with the Lithuanian Business Support Agency (LVPA), has foreseen that due to coronavirus-related risks for business and the economy flexibility will be ensured in the implementation of the EU investment requirements for business.

Since 2020, an amendment to the Corporate Tax Law initiated by the Ministry of the Economy and Innovation has entered into force, allowing Lithuanian and foreign investors to more flexibility invest in start-ups. The corporate tax relief now applies to venture capital and private equity entities which invest in both shares and convertible bonds. This...

Today, the Government approved the proposal of the Ministry of the Economy and Innovation to exempt from the corporate tax obligation Lithuanian and foreign capital-based  investment project promoters which will invest at least EUR 30 million and will create at least 200 new jobs. This amendment to the Law on Corporation Tax will facilitate the development...

Today, representatives of Lithuania and Turkey will discuss prospects for economic cooperation. During the first meeting of Turkey-Lithuania Joint Economic and Trade Commission (JETCO), consideration will be given to promoting trade growth and  establishing links between large and also small and medium-sized enterprises.

Negotiations on Lithuania’s further perspectives and membership in the European Space Agency (ESA) have started. Possible forms of cooperation were discussed on 24 January in Vilnius at a meeting between representatives of Lithuania and ESA.

While competition between start-up ecosystems in Lithuania and other countries is growing rapidly, innovative businesses from non-EU countries welcome Lithuanian start-up ecosystem. This is evidenced by the fact that in 2019, twice as many foreign start-ups than in the previous two years chose Lithuania for business development through the...

The Academy established by the Ministry of the Economy and Innovation and Create Lithuania will help Lithuania with developing digital skills of public sector employees.

The GovTech Lab initiative by the Ministry of the Economy and Innovation and Create Lithuania was awarded at the Innovation In Politics Awards 2019.

Lithuania has moved up as much as by 8 positions in the IMD World Talent Ranking 2019. Currently, based on the creation of a suitable environment for qualified workforce, its attraction and maintenance, Lithuania ranks 28th among 63 countries in the world.

Lithuania has achieved the 11th position in the World Bank’s Doing Business report measuring business conditions. This is the highest position ever achieved by Lithuania since the launch of this report.

In the Smart Country Convention exhibition on latest digital solutions for the public sector, cities and municipalities, which has started today in Berlin, Vice-Minister of the Economy and Innovation Elijus Čivilis is presenting Lithuania’s initiatives for digital innovation and sharing experiences on how to digitise services in the public sector.

Vice-Minister of the Economy and Innovation Gintaras Vilda is taking part  in the European Research and Innovation Days in Brussels, where he present Lithuania’s experiences and key achievements in the field of R&D&I. The event brings together top level innovation policy makers as well as business and science...