Lithuanian 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.

In 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.

Minister 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.

Ministry 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.

The 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.

Eight months after the Minister of Economy and Innovation Aušrinė Armonaitė met with South Korean investors, SK E&S, one of the largest oil and gas companies in Asia, announced that it is seriously considering expanding its operations in Lithuania.

the Ministry of Finance submitted an updated letter to Ignitis Group AB regarding the objectives and expectations of the state related to the activities of the companies of the group. In the letter of expectations, priority is given to carrying out green transformation and ensuring energy security, as well as improving the quality of customer service.

Experts from the Ministry of Finance discussed with social and economic partners the updated draft plan "New Generation Lithuania" prepared by the Ministry, which aims to additionally stimulate the green transition and the transformation of the Lithuanian industry, strengthening the resilience of the country's economy.