"Rational use of data can add around 2% to a country's GDP, so we will increase the accessibility and quality of data sharing. We are also removing technical barriers to the re-use of data. By creating a Single European Data Space, we will develop data re-use in strategic areas of the public and private sector, such as energy, mobility, finance and manufacturing," said Aušrinė Armonaitė, Minister of the Economy and Innovation.
The innovations will ensure even better data management and sharing. It will help industry to develop innovative products and services. Many sectors of the economy will become more efficient and sustainable. With more data, the public sector will be able to implement more effective policies, leading to more transparent government and more efficient public services.
The Data Governance Act regulates key areas of data management. It enables the re-use of sensitive categories of data held by the public sector that are protected by commercial and statistical confidentiality, the protection of third party intellectual property rights and the protection of personal data.
It also ensures that data brokers act as trusted data sharing organisations. It also makes it easier for citizens and businesses to share their data in the public interest.
"The Data Governance Act enables even more innovation and job creation. In particular, businesses will benefit from lower costs to acquire, integrate and manage data and lower barriers to entry. It will reduce the time to market for new products and services. This will allow companies to develop new data-driven products and services," said Erika Kuročkina, Deputy Minister of the Economy and Innovation.
The draft law, which will be submitted to the Seimas, also regulates the implementation of data governance measures in Lithuania. It defines the competences, rights and functions of the implementing bodies, the procedure for handling complaints, determining and paying compensation, sanctions and damages.
The Data Governance Act is implemented in Lithuania by the State Data Agency and the State Data Protection Inspectorate.
The law implementing the Data Governance Act in Lithuania is expected to enter into force on 1 September this year, subject to the approval of the Seimas.
