More than 200 international and Lithuanian experts and decision makers in finance and economics gathered in Vilnius on 1 October took part in the 8th International Financial Markets Conference “Developing Capital Markets in the Baltics”, which was organized by the Ministry of Finance of the Republic of Lithuania, the European Court of Auditors and the Association of Lithuanian Banks.

In Washington (USA), Minister of Transport and Communications Marius Skuodis met with representatives of the World Bank and the International Monetary Fund (IMF) and discussed the advancement and progress of Lithuania in reorganising state enterprises of the transport sector into joint-stock companies. It is suggested to involve Lithuania in international discussions regarding these institutions and use the ongoing reorganisation of state enterprises as an example for other countries.

Minister of Transport and Communications Marius Skuodis, who is visiting the United States of America, has discussed with the US Department of Transportation, Federal Aviation Administration and Transportation Security Administration the plan to enable flights of aircraft of the air companies registered in Lithuania to the USA from any country in the world by 2023.

Minister of Transport and Communications Marius Skuodis met with the board of RB Rail AS, joint venture between the three Baltic States, on Thursday, and emphasised that the plan to build the Rail Baltica railway in Lithuania by the end of 2026 largely depends on the actions and efforts of RB Rail AS. According to the Minister, in order to achieve this objective, the venture must complete the necessary design works of Kaunas–Ramygala section this year. This is the key to the timely launch of the procurement procedure for construction works of the entire section.

To ease the borrowing burden on SMEs the European Guarantee Fund (EGF) will guarantee loans from the ‘Startuok’(start up) financial instrument of INVEGA. The total potential loan portfolio will make EUR 57 million.

In order to improve the condition of Lithuanian roads and to ensure the most efficient use of funds allocated for roads, the Ministry of Transport and Communications suggests implementing a new road financing system starting next year, based on clearer criteria and long-term planning. This is established by the reorganisation of the fund administration system of the Road Maintenance and Development Programme (RMDP), which was approved by the Government today.

Japan, which is one of the world’s seven largest economies (G7), is one of the most important economic partners of Lithuania in Asia. In pursuance of becoming a transition country between the East-West and North-South transport corridors, Lithuania expects to attract investments and transit freight from Japanese businesses. Today, the delegation of Japanese businessmen visiting Lithuania came to the Port of Klaipėda to get acquainted with the companies operating there, their activities, the infrastructure projects and planned development projects carried out by the Seaport Authority.

Society now has the possibility to familiarise with the documentation of the territorial planning of the railway line Kaunas–Vilnius of the Rail Baltica project, the alternative solutions of the concept of the infrastructure development plan and the documentation of their strategic environmental assessment. Citizens are invited to actively participate in the territorial planning process, provide their remarks and suggestions for the documentation during public deliberation.

The reconstruction works of Palanga Airport, which started in early September, are proceeding according to plan. Asphalting of the runway is now complete, and the airport will now proceed to marking pavements and installing LED signal lighting.

As part of the celebration of the European Year of Rail 2021 the European Commission (EC) train that pulled out of Lisbon and travelled across Europe and the Baltic Express meet in Kaunas. The meeting of these trains, arriving on different gauges, marks the future of train travel for passengers and businesses alike. The Rail Baltica project will bring Tallinn within reach of a European-standard railway, but so far Kaunas is the furthest eastern Lithuanian city that can be reached by the European-standard railway from Western Europe.