L. Savickas: Laws significantly improving the business environment to be submitted to the Seimas
The Ministry of the Economy and Innovation (EIMIN) will submit to the spring session of the Seimas a series of legislative amendments that will reduce administrative constraints, stimulate investment and contribute to faster economic growth. Reducing administrative and bureaucratic burdens is also a major focus.
"Excessive bureaucracy is an obstacle to growth, so we are taking action to reduce it. We are initiating changes that will significantly increase Lithuania's competitiveness, boost investment and strengthen the country's economy. Only by acting decisively and quickly can we bring about real change," said Lukas Savickas, the Minister of the Economy and Innovation.
According to the Minister, these changes are a coherent part of the EIMIN START plan. The plan aims to transform the Lithuanian economy into a higher value-added economy and significantly accelerate economic growth, which will be felt not only by businesses but also by the population. A shorter path for At the spring session of the Seimas, amendments to the Law on Investment and other legal acts will be submitted for consideration, which will allow large investors to significantly speed up key processes - from the change of land use to the start of construction. Instead of lengthy administrative procedures, faster decision-making will be ensured, allowing for faster development of investments of strategic importance for Lithuania.
The amendments will extend the special conditions not only to defence projects, but also to large business projects that are important for economic transformation. This will ensure more efficient land preparation and a faster building permit process. The aim is to ensure that processes that currently take several years can be completed in just a few months.
The role of Invest Lithuania would also be strengthened, with more powers to coordinate large projects and obtain information from state institutions.
In order for these changes to be effective, amendments to the laws on land, construction and spatial planning will be submitted to the Seimas together. This will harmonise the processes of land use change, construction permits and spatial planning, ensuring faster and simpler implementation of business projects.
Business protection and transparency
Small and medium-sized enterprises will also receive due attention in the spring session of the Seimas. The establishment of an Ombudsman for Small and Medium Enterprises is planned to improve dialogue between businesses and the authorities. This institution will help businesses to defend themselves against unreasonable regulatory requirements, bureaucratic constraints and other administrative obstacles.
Businesses will be able to appeal to the ombudsman against decisions taken by the institutions that hamper business development. This should help to resolve disputes more quickly and provide a clearer regulatory mechanism.
These changes should ensure a more competitive and attractive business environment, allow for more efficient use of investment opportunities and help strengthen the country's economy.
Simplification of licensing
One of the planned initiatives is amendments to the Law on Public Administration aimed at simplifying licensing procedures, reducing the administrative burden on businesses and increasing transparency. The amendments will clarify licensing conditions, make licensing procedures clearer and simpler, and remove obstacles to obtaining the necessary licences remotely and electronically.
In addition, the amendments provide for the establishment of basic principles for risk assessment and management in business supervision activities, so that they are focused on preventing the greatest harm and reducing the excessive burden of supervision on honest businesses.
Amendments to the Law on Joint Stock Companies
Amendments to the Law on Joint Stock Companies aimed at improving the business environment will also be submitted to the spring session of the Seimas. The amendments are aimed at reducing the administrative burden on companies, simplifying regulation and solving practical problems in the application of the law.
It will introduce the possibility for companies to issue redeemable shares, liberalise the creation of preference shares and simplify decision-making in companies.
The draft law is expected to be presented to the business community and the public for further discussion in the near future.
A stronger tourism
The third initiative is the amendment of the Law on Tourism. It aims to reduce administrative and bureaucratic burdens, clarify functions and strengthen the protection of travellers' rights. The aim is to clarify the regulation of the tourism sector, make it easier to do business and ensure greater transparency.
One of the most important changes will be to grant Travel Lithuania („Keliauk Lietuvoje“) the right to act as the Lithuanian Conference Bureau. This will enable more effective coordination of the promotion of conference tourism and increase the country's international attractiveness. The legal regulation of tour guides will also be revised to clarify the requirements for their activities and to ensure quality services for travellers.
The regulation of tour operators will be revised with a clearer definition of their responsibilities and stronger enforcement mechanisms.
Last updated: 26-02-2025
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