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2020 05 08
Rental compensations to businesses begin

A tool for businesses initiated by the Ministry of the Economy and Innovation is starting, which is designed to cover a partial compensation of rentals for companies most affected by COVID-19. EUR 100 million will be allocated from the state budget to subsidise the rentals.

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2020 05 06
Measures presented to ensure liquidity and activity in the tourism sector

In order to manage the crisis and mitigate its impact on the tourism sector, the Ministry of the Economy and Innovation presented to the Government a plan for the tourism sector promotion, which includes measures to reduce the effects of COVID-19, as well as measures to promote the tourism sector after the quarantine and measures to transform the tourism ...

2020 04 16
ViLTė is an automated conversation robot providing official COVID-19-related information

Truthful, reliable and up-to-date information on emergency, quarantine and coronavirus from official sources is crucial today. In order to facilitate the provision of such information to the public an automated  conversation robot called ViLTė was installed at www.koronastop.lt . This is a new way to get information quickly and at any time during the day, which is particularly relevant when the number of coronavirus cases is increasing and more people are turning to helplines on a wide range of issues in the country. This virtual conversation robot, working with the help of artificial intelligence, can already understand and provide official and reliable answers in Lithuanian and English to thousands of citizens’ questions about coronavirus, travel restrictions, ...

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2020 04 03
Invega is already accepting applications for loan interest repayment holidays

From today onwards, small and medium-sized businesses in difficulty with regard to COVID-19 will be able to apply to INVEGA for the compensation of interest on deferred loans or finance lease payments. With the deferral by a financial institution of the payment of the loan or financial lease, the borrowers will have the interest to be paid during ...

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2020 03 12
The EU investment framework for business will be more flexible due to adverse effects of coronavirus

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.

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2020 02 10
More favourable conditions for investment in start-ups

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 ...

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2020 02 05
Tax incentives to attract large investments

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 ...

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2020 01 31
Lithuania and Turkey will discuss economic cooperation

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.

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2020 01 22
Negotiations started on Lithuania’s perspectives for membership in the European Space Agency

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.

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2020 01 16
Last year, twice as many foreign start-ups chose Lithuania for business development

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 ...

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2020 01 14
Promoting of public sector innovation: Digital Lithuania Academy

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.

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