„An important direction is increasing the competitiveness and productivity of our economy. By improving the Public Procurement Law, the bureaucratic burden on businesses and contracting organizations will be reduced. We will invite to expand the category of large projects by law and thus accelerate investments in a high value-added economy,“ M. Sinkevičius said on Thursday while the Seimas was approving the autumn session agenda.
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„The National Human Resources Competency Development Law is also being submitted to the Seimas, which should help people acquire the skills needed for high value-added work and higher incomes,“ he added.
According to him, the Government will also propose establishing the Visaginas Free Economic Zone, which would encourage investments and create jobs in the Ignalina district.
President Gitanas Nausėda has said that the country’s business competitiveness is becoming critically important, so measures need to be taken. The head of state has proposed temporarily reducing the electricity price burden for large and energy-intensive companies, allowing the national development bank ILTE to invest residents’ deposits held in commercial banks with a state guarantee.
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Industry representatives have stated that they expect from M. Sinkevičius a zero profit tax relief for reinvested profits and normalization of relations with China.
The economic transformation plan „3i“ prepared by the Ministry of Economy and Innovation sets out directions on how Lithuania will transition to balanced growth, and by 2030 every second job will create high added value.
