EconomyThe Green Finance Institute is being established for the smooth transition of Lithuania to a green economy, efficient use of renewable energy resources and to become a regional leader in the field of green finance. It is planned that by 2030, the transition to a green economy will require at least EUR 14 billion – of which almost EUR 10 billion are to be covered by public funds, mobilizing another EUR 4 billion from private investors. The main task of the Institute is to strengthen the partnership between the public and private sectors and promote the attraction of private investments, while also increasing the investment attractiveness of the entire country. As part of an official visit to the United States of America (USA), a delegation led by Minister of Transport and Communications Marius Skuodis engaged in discussions with the administration of the Port of New York, which is connected to Klaipėda via a sea route. The meeting focused on exploring new avenues for cooperation, with the Port of Klaipėda actively seeking potential investors and destinations in the USA, also to aid the growth of its wind farm. Klaipėda has taken an important step towards attracting foreign talent and investment2023-06-07, 16:01On the initiative of the Ministry of the Economy and Innovation and other institutions, a new service centre “International House Klaipėda” was opened up in Klaipėda to l help to ensure a smooth resettlement of foreigners to the port city. The Minister Aušrinė Armonaitė has no doubt that the activities of this centre will not only facilitate foreigners' access to quality public services, but will also help to significantly attract highly skilled workers and, in turn, foreign investors. Ministry of Transport and Communications invites Lithuanian bus fleets to upgrade with electric and hydrogen buses: EUR 66 million funding allocated2023-06-06, 16:25Lithuanian bus fleets will be able to replace old and polluting passenger vehicles with electric or hydrogen-fuelled vehicles more quickly. The Ministry of Transport and Communications announces funding of EUR 66 million for the renewal of the urban and suburban public transport fleet, encouraging the use of zero-emission vehicles. With the continued growth in air passenger traffic, almost half a million passengers were served at Lithuanian airports in April, and the total number of aircraft was even higher than in the same period in 2019, when the peak of flights was recorded. Kaunas Airport is showing the most impressive growth, continuing to improve its all-time record, while Palanga is seeing an increase in both passenger and cargo flights. Lithuanian cities have risen significantly in the latest edition of the StartupBlink index, with Vilnius and Kaunas making the TOP 200. Lithuania is currently No. 17 on the global list, and No. 9 in the European Union. The Lithuanian Minister of the Economy and Innovation, Aušrinė Armonaitė, is confident about the index providing further evidence that Lithuania’s startup ecosystem is among the fastest growing in the world. Lithuanian Airports are introducing a new airline incentive model: looking for the operator of flights between Vilnius (VNO) and London City (LCY) airports2023-05-30, 12:41In 2022 the Ministry of Transport and Communications of the Republic of Lithuania, together with external consultants, prepared a plan to promote flights to destinations which have strategic importance for Lithuania. Now, Lithuanian Airports are introducing a new incentive model and launching an international call for application from airlines to participate in the selection process for the operator of scheduled flights between Vilnius (VNO) and London City (LCY) airports. Swiss-Lithuanian Cooperation: EUR 53 Million for Health, Education and Citizenship2023-05-26, 18:47Minister of Finance Gintarė Skaistė and Ambassador of Switzerland to Lithuania Martin Michelet signed a cooperation framework agreement on the Swiss financial contribution to Lithuania, which will provide almost EUR 53 million of co-financing funds for the implementation of public investments. EIMIN: Almost €12 million allocated to 7 municipalities for industrial zone development2023-05-25, 16:09Ministry of the Economy and Innovation has allocated €11.7 million in funding for infrastructure projects in seven municipalities across the country. The funding will help municipalities to build and improve infrastructure in free economic zones (FEZs), industrial parks and other industrial areas. Cooperation between national taxation authorities: Council puts the spotlight on crypto-assets and the wealthiest individuals2023-05-18, 15:56The Council has reached agreement on its position (general approach) regarding amendments to the directive on administrative cooperation in the area of taxation. The amendments mainly concern the reporting and automatic exchange of information on revenues from transactions in crypto-assets and information on advance tax rulings for the wealthiest (high-net-worth) individuals. The aim is to strengthen the existing legislative framework by enlarging the scope for registration and reporting obligations and overall administrative cooperation of tax administrations. |
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