EconomyThe Ministry of Finance: more detailed regulation of the crypto market will increase the transparency of the sector2024-03-20, 11:35The Ministry of Finance, together with the Bank of Lithuania, has prepared and submitted for re-coordination with other institutions several draft amendments to the laws, which will establish new operational requirements for crypto-asset service providers and consolidate their licensing process. With Lithuania planning to develop two offshore wind farms in the Baltic Sea with a combined capacity of 1.4 GW, the Ministry of Energy has approved a procedure for the supervision and assessment of the obligations of the successful developers. The Lithuanian Energy Agency (LEA) will act as a supervisory authority during the construction and operation of the offshore wind farms. Lithuania's digital public services are among the most advanced in the European Union (EU). According to the Lithuanian Digital Decade Report 2023, Lithuania scored 84 points (EU average 77) for public services for citizens, 94 points (EU average 84) for public services for businesses and 92 points (EU average 72) for access to electronic health records. Two more regular routes will be launched under the new risk-sharing model: regular flights will connect Vilnius airport with Lisbon and Hamburg2024-03-15, 14:02The risk-sharing partnership model which was introduced by Lithuanian Airports and successfully connected Vilnius Airport with London City airport last year is continuing. Lithuanian airports and the airline airBaltic have signed a joint investment agreement, under which regular flights will operate from Vilnius Airport to the German port city of Hamburg and the capital of Portugal, Lisbon. Rail Baltica in Lithuania: First infrastructure objects are being developed in Jonava district2024-03-07, 11:56The shape of the main railway line is becoming visible in the Jonava district in Lithuania – a railway track and engineering structures are being built on a section of almost 30 km. Some of the engineering structures, such as animal crossings and one of the tunnels, are almost complete. A. Armonaitė to open North America-Lithuania Business Forum in New York and meet with potential investors2024-03-06, 16:15On 5-8 March, the Minister of the Economy and Innovation, Aušrinė Armonaitė, is paying a working visit to New York, where she will open the North American-Lithuanian Business Forum ("NAALBF"). It will bring together nearly 300 representatives of Lithuanian and US companies. The Minister will also meet with potential US investors to discuss opportunities to expand their operations in Lithuania. Early Tuesday, negotiators from Parliament and Council reached a provisional agreement on new rules that ban products made with forced labour from the EU market. The Ministry of Finance has prepared the draft amendments to the Law on Excise Duty, which propose to introduce new excise duty rates on alcohol and tobacco and alternative products in 2025–2027. After three years, the State budget revenue is expected to increase by about EUR 126.7 million, thus maintaining a relatively stable excise share in the structure of tax revenue. G. Skaistė: "We see a greater role of the European Investment Bank in financing the strengthening of the EU defence capabilities"2024-02-28, 11:56On 23-24 February, Minister of Finance Gintarė Skaistė participated in the informal meetings of the Eurogroup (EG) and the Council of Finance Ministers of the European Union (EU) (ECOFIN) in Ghent (Belgium). The meetings focused on the discussion of the economic situation of the euro area, the deepening of the EU capital markets, issues of European competitiveness and the discussion of the strategic directions of the European Investment Bank (EIB). Vice-Minister of Finance M. Liutvinskas: "A developed financial market is the key to the competitiveness of the EU economy"2024-02-27, 11:59While participating in the EUROFI forum discussion in Ghent (Belgium), Vice-Minister of Finance Mindaugas Liutvinskas emphasized that the creation of the European Union (EU) capital market must remain among the priorities of the European agenda. A developed and efficiently functioning single capital market would create additional sources of financing for businesses and investment opportunities for residents. This would contribute to strengthening the competitiveness of the EU economy and mobilize funds for strategic goals such as the green transition. |
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