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2019 05 07
Minister Sinkevičius in the EU’s informal Competitiveness Council: old rules no longer fit for the world of start-ups

‘New business models and technologies require to promote investment to innovation and skill and to create modern legal basis. Old rules are no longer relevant, especially when it comes to the introduction of promising new digital business models, the start-up ecosystem and rapidly evolving...

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2019 04 29
Good News for Startups: Barriers Will Be Reduced to Attract Talent from Abroad

Lithuania will be launching ‘Startup Employee Visa’, a procedure for attracting, retaining and integrating foreign talents that will reduce barriers for the highly qualified professionals that startups need to come to Lithuania. This was established by the memorandum signed today by the Ministry of Economy and Innovation, the Ministry of the...

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2019 04 10
Ministry of the Economy and Innovation has defined start-up concept by law

The Government approved amendments proposed by the Ministry of the Economy and Innovation in the Law on the Development of Small and Medium-Sized Enterprises, which define a long-used start-up term which has not been included in the legislation so far. It is determined that start-up shall mean a very small or small enterprise that has a big potential of...

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2019 04 03
Virginijus Sinkevičius presenting an AI strategy in Brussels: ‘Lithuania is ready to challenge large countries‘

In Brussels, Minister of the Economy and Innovation Virginijus Sinkevičius will be among the first in the EU to present the Lithuanian National Artificial Intelligence Strategy in meetings with representatives of the European Commission and in artificial intelligence conferences. According to the...

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2019 03 06
Administrative burden on business reduced by EUR 103.9 million last year

According to the calculations of the Ministry of the Economy and Innovation, last year, administrative burden on business was reduced by EUR 103.9 million, which will allow some businesses save more than EUR 6 000 a year. This amount includes time and financial costs that will no longer be incurred by businesses as a result of the entry into force of the...

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2019 03 06
Seven professional qualifications obtained in the UK will be automatically recognised in Lithuania after Brexit

Following the United Kingdom’s withdrawal from the European Union, Lithuania will automatically recognise the professional qualifications of medical doctors, dental practitioners, nurses responsible for general care, midwives, pharmacists, veterinary surgeons and architects, acquired before Brexit. These...

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2019 03 05
Lithuania and Kazakhstan strengthen economic cooperation

At the 12th meeting of the Lithuanian-Kazakh Intergovernmental Commission on Trade and Economic Cooperation (the Commission), held at the Ministry of the Economy and Innovation of Lithuania it was decided to strengthen bilateral economic relations, develop cooperation in the field of transport in order to increase the volumes of transported cargos and to...

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