Minister of the Economy and Innovation Aušrinė Armonaitė will meet leaders of German automotive industry in Munich this week; she will invite them to invest more actively in Lithuania and cooperate with Lithuanian companies already working with German car manufacturers.

Lithuania has come up with an attractive deal for independent travelers: stay three nights in the country but pay only for two. Up to 500 Lithuanian hotels, B&Bs, and other short-term accommodation providers have teamed up with the government for this campaign to offer the first 10,000 travelers who register more time to explore the country’s natural landscapes, urban peculiarities, and the charming Baltic Sea shoreline. The campaign with the slogan “Lithuania. Take your time.” will be running between September 2nd and November 8th, 2021.

Opening the national stand of Lithuania at the biggest event focused on future mobility – the international Motor Show IAA Mobility 2021 – in Munich (Germany), Minister of Transport and Communications Marius Skuodis said that Lithuania is strengthening its position in the global car industry and becoming part of the car value chain. At the same time, the Minister urged more active cooperation between the companies of the two countries by using the potential of the Lithuanian engineering industry companies, testing and implementing transport novelties and innovations.

Yesterday, during an official ceremony in Palanga Airport, Minister of Transport and Communications Marius Skuodis and heads of Lithuanian Airports and Palanga City Municipality announced the launch of the airport’s infrastructure reconstruction. As of 6 September, Monday, Palanga Airport is to be closed for a minimum period of 45 days to undergo renovation of its runway and taxiway, reconstruction of the platform, renewal of engineering and lighting systems.

Over the next month, the special European train will stop in more than 100 towns and cities in 26 countries across the continent.

On Wednesday, the Cabinet of Ministers approved the proposal of the Ministry of Transport and Communications to reorganise the SE Lithuanian Road Administration (LRA) from a state enterprise into a joint-stock company. Such reorganisation is expected to increase the efficiency of the enterprise’s operations, accelerate the implementation of strategic projects, and allow the application of the highest standards of corporate governance.

Lithuania’s economy showed resilience in the face of pandemic crisis and already demonstrates strong signs of recovery, whereas no significant risks to financial stability are observed at the moment. However, in the future the country should focus more on structural reforms that support productivity growth, in order to avoid being stuck in the middle-income trap.

On Tuesday, Minister of Economy and Innovation Aušrinė Armonaitė discussed with representatives of the life sciences sector the actions currently planned to promote the growth of the life sciences industry.

The Ministry of the Economy and Innovation has launched a call for applications for EU support under the ‘e-commerce model COVID-19’ instrument, which enables businesses to introduce information technology to administer business transactions electronically. EUR 40 million has been allocated to this instrument.

The Bank of Lithuania published the monetary financial institution (MFI) balance sheet and interest rate data for July 2021, which show that: