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:

The Bank of Lithuania together with the Competition Council of the Republic of Lithuania sees opportunities for improvement of small and medium-sized enterprise (SME) financing and proposes solutions. The interested parties are invited to present their opinions on the study conducted by the Bank of Lithuania and the Competition Council and the recommendations prepared on the basis of a comprehensive analysis.

Minister of Transport and Communications Marius Skuodis had visited Šiauliai and stressed the great economic potential that Šiauliai Airport, which is currently under reconstruction, offers for the city and the region. According to the Minister, while preparing the long-term Lithuanian air transport development and expansion guidelines, it is planned to assess the role of this airport within the country’s air transport system.