Background information

The Ministry of Economy and Innovation plans to launch measures worth almost €1 billion by the end of 2023 to strengthen the Lithuanian economy and tackle the challenges faced in recent years. Funding will be earmarked for a wide range of private and public sector projects in the fields of business, innovation, investment, digitisation of government and business, and the promotion of the green economy. The funding source - NextGeneration EU calls for funding for as much as 40% of this total are expected to be launched before the end of the year

Content of measure

This nearly €1 billion plan for Lithuania's economy is divided into three parts. By the end of 2023, around €365 million is earmarked for business, innovation and investment, €320 million for the digitalisation of government and business, and €268 million for a greener economy. Business, innovation and investment will be focused on the high target of increasing R&D spending to 1.5% of GDP by 2024. Digitalisation will focus on developing and improving new and existing digital services for businesses and citizens. It will expand e-services and make them more accessible to people with special needs, as well as promoting the use of open data. In the green economy, the bulk of the funding will be spent on investment projects focusing on renewable energy, fossil fuel divestment and operational efficiency. Small and medium-sized enterprises will benefit from investment for sustainable industrial transformation and the development of environmentally friendly products and technologies.

Use of measure

In 2023:

• 11 calls were opened in the area of green economy;
• 12 calls were opened in the area of digitalisation;
• 38 calls were opened in the area of business, innovation and investment.

Target groups

Workers	Businesses	Citizens
Does not apply to workers	Applies to all businesses	Does not apply to citizens

Actors and funding

Actors	Funding
Company / Companies	European Funds

Social partners

Social partners' role in designing the measure and form of involvement:

	Trade unions	Employers' organisations
Role	Informed	Informed
Form	Not applicable	Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

• No involvement
• Main level of involvement: Company level

Involvement

The measure is designated for companies, therefore social partners might be mainly involved at the company level. The measures foreseen were also presented for the employer organisations.

Views and reactions

Social partners (especially EO) are greatly supporting the measure as without EU funds Lithuanian companies (represented by the EO) would have difficulties in receiving funding for their activities.

Sources

• 01 May 2023: 1 billion for Lithuanian economy (eimin.lrv.lt)
• 22 June 2023: Funding for economy presented to EO (www.lpk.lt)