"It is clear that there are no quick fixes to grow a stronger, more competitive and wealthier Lithuania, so we need to use long-term solutions. We will seek to increase productivity through measures such as research and innovation, digital skills training, digitalisation and the use of advanced technologies. In the context of today's economic challenges, we also see the importance of the transition to a green economy, and to create a green wave in Lithuanian factories, we need to move away from fossil fuels and inefficient equipment," said Aušrinė Armonaitė, Minister of the Economy and Innovation.
She said that particular attention will be paid to companies seeking change and transformation, with substantial support planned for the development of start-ups and the implementation of various innovative ideas, modernisation and digitalisation of enterprises, improvement of employees' skills, and improvement of energy efficiency.
This nearly €1 billion plan for the Lithuanian economy has 3 parts. By the end of 2023, around €365 million is earmarked for business, innovation and investment, €320 million for the digitalisation of the state and business, and €268 million for a greener economy.
Business, innovation and investment will be targeted to achieve the ambitious goal of increasing R&D spending to 1.5% of GDP by 2024. By the end of 2023, nearly €144 million of calls for R&D activities will have been launched.
A strong focus will be placed on developing tools for start-ups and existing businesses to facilitate the re-certification of their products, access to the various sources of funding available to them, acceleration programmes, performance optimisation tools, etc. Nearly €60 million of calls are foreseen.
Work will continue to focus on diversifying markets and attracting new investors. EUR 120.5 million is foreseen for these financial tools. Investments in skills and capacity building of employees will amount to €15 million.
In the area of digitalisation, the focus will be on developing and improving new and existing digital services for businesses and citizens. It will expand e-services, make them more accessible to people with special needs and promote the use of open data. This will be supported by a package of measures totalling €165 million.
Centralisation of public IT resources will continue with €95 million to improve data security. This will include the development of Lithuanian language resources for artificial intelligence solutions (€35 million), the promotion of e-commerce models (€12 million), etc..
In the area of the green economy, the bulk of the funds will be dedicated to investment projects focusing on renewable energy sources, fossil fuel divestment and operational efficiency. This will amount to more than € 170 million.
Small and medium-sized enterprises will receive €13 million to support sustainable industrial transformation and the development of environmentally friendly products and technologies. €35 million is earmarked for energy efficiency audits.
More details on the planned measures can be found here.
