Representatives of UAB Investicijų ir Verslo Garantijos (Investment and Business Guarantees, Invega) and the Platform FinBee for Business have signed a contract for the launch of a new instrument for the crowdfunding of business loans called ‘Crowdfunding loans Avietė’ (hereinafter referred to as ‘the Avietė loans’). This is the first crowdfunding loan...

The Government agreed with the proposal made by the Ministry of Economy to legalise the virtual office to both continually allow the establishment of businesses electronically, which is currently the case, and to ensure an effective, secure, legal proof and evidence providing communication with public authorities and other persons in the virtual space.

Jekaterina Rojaka, with her experience of many years as Chief Economist at the Bank DnB NORD, is taking up her duties at the Ministry of Economy. From today, she is appointed Adviser to the Minister of Economy responsible for macroeconomic analysis and the development of the analytical resources of the  Ministry.

The Ministry of Economy will make a proposal to legalise the virtual office, which means enabling the establishment of companies that do not have a physical address of their premises so that they could be able to do communication with public authorities and other entities in virtual space. Following the adoption of this decision, Lithuania would become among...

At the meeting on Wednesday, the Government decided that the State Department of Tourism under the Ministry of Economy (hereinafter referred to as ‘the State Department of Tourism’) is subject to dissolution as of 1 January 2019. From the new year onwards, tourism marketing will fall within the...

Today, the Organisation for Economic Cooperation and Development (OECD) has published a review of corporate governance in Lithuania, in which Lithuania’s capacities, reform efforts and willingness to adopt the OECD standards and principles have been positively assessed. In the review, the OECD also made recommendations on how Lithuania could continue...

Lithuania has always been open to innovation and this is proved by means of becoming one of the blockchain technology centres of excellence in Europe and introducing exceptional products which address everyday problems. This was brought up by Minister of Economy Virginijus Sinkevičius at the...

Despite its global decline direct investment from the US keeps consistently growing in Lithuania. Minister of Economy Virginijus Sinkevičius, who is visiting Washington this week, is introducing Lithuania’s investment environment and  the country’s contribution to success stories of US companies  in their global operation...

‘Lithuanian high-tech companies are prepared to propose exceptional technology solutions for the US defence industry and this needs to be unlocked’, says Minister of Economy Virginijus Sinkevičius currently visiting the US. Along with a national business delegation representing...

Today, Gediminas Miškinis who previously was Deputy Chief Executive Director of the Vilnius City Municipality Administration is taking up his duties as Vice-Minister of Economy. Gediminas Miškinis will be in charge of increasing the operation efficiency of the Ministry of Economy and optimising the internal processes.

Last year, Lithuania received 1.55 million foreign tourists who stayed at least one night, i.e. 4.3% more than in 2016, as seen from statistics on accommodation services. General growth in the industry, including local tourism, amounted to 6.6% last year. The number of tourists who were provided with accommodation constituted 2.92 million.

Gintaras Vilda and Marius Skuodis are taking up their duties as Vice-Ministers this week.