Defence bonds. The proceeds of defence bonds will be dedicated for the acquisition of major weapons, such as various drones and anti-drone systems.

Continuous improvement of the business environment and reduction of the administrative burden are making Lithuania one of the most attractive places to do business in the region. In three years, the administrative burden on businesses has been reduced by more than €33 million.

The European Investment Bank has welcomed the €42 million investment programme of the European Union's (EU) Modernisation Fund (EUMF), prepared by the Ministry of Economy and Innovation (EIMIN), to focus on the deployment of decarbonisation technologies in industrial companies. It is estimated that these investments will save around 2,607 GWh of energy and reduce around 489,000 tonnes of greenhouse gas (GHG) emissions in our country by 2035.

The Ministry of Energy proposes to announce the tender for the development of the second 700 MW offshore wind park in Lithuania on November 18 of this year. The decision on the tender date must be taken by the Government.

The Ministry of Finance is increasing the production potential of equipment necessary for national defence, intending to invest EUR 11.2 million in AB Giraitė Ammunition Plant already this year. This will allow to start the installation works of a new production line earlier, doubling the company's current production capacity.

Lithuania is becoming one of the first countries in the European Union (EU) to launch a pilot artificial intelligence (AI) environment, known as an "AI sandbox". The space will allow Lithuanian technology companies to safely design, test and develop IoT solutions before bringing them to market. This will enable the country's businesses to accelerate innovation and compete in the global marketplace.

The Ministry of Finance has prepared a draft Law on the Elimination of Double Taxation and the Prevention of Tax Evasion and Avoidance, which proposes to include in the Lithuanian legal system the solutions for the avoidance of double taxation with respect to income related to the territory subject to Taiwanese tax laws.

In order to boost exports of Lithuanian companies, the Ministry of the Economy and Innovation has allocated EUR 411.2 thousand for projects of Lithuanian business associations to present companies and their products at international exhibitions and trade fairs and to organise outgoing business missions.

“Today, we can be absolutely certain that we have done what other governments have failed to do – we have consolidated the four national promotional institutions that were not efficient enough to date into one – Investment in the Lithuanian Economy, ILTE, with an arsenal of financial instruments amounting to EUR 1.4 billion of new instruments that have already reached the economy and EUR 3 billion of the new ones,” Minister of Finance Gintarė Skaistė saidin her opening speech at the Conference “Ideas: Innovation. Investment in the Lithuanian Economy” today.

The distribution of the thirteenth issue Government savings notes (GSN) ended on Monday, where residents purchased GSN for EUR 4.7 million and 414 transactions were made. Residents will be paid 3.1 per cent of annual interest on this new one-year GSN issue.