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“The changes in the country’s economy are occurring as in nature: if we experience a shock, we not only need to adapt, but also use this situation to be stronger in the crisis. As a result, we have developed a plan with many experts. Its main objective is to invest quickly and efficiently in the recovery and growth of the Lithuanian economy to transform it into a sustainable, innovative and high value-added economy, “V. Šapoka told government journalists on Tuesday.
He recognized that until now the government has focused on short-term measures aimed at stimulating domestic demand, so now it has begun to consider a longer-term perspective.
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Five directions
V. Šapoka identified the top priorities as investments in human capital, digital economy and business, innovations, economic infrastructure and climate change and energy. Separate ministries will be responsible for the implementation of the investments.
It is planned to allocate 610 million to human capital. 1,896 million euros for the digital economy and business. 711 million euros for innovation and research. 1,931 million euros for economic infrastructure. 932 million euros for climate change and energy. 190 million euros will remain in the reserve. euros
The recently created Plan for the Economy of the Future, for example, foresees 47 million euros for the resumption of international flights and the development of airports. 86 million euros for free economic zones and industrial parks. € 29 million for the Vilnius Palace of Sports. 164 million euros for the Klaipeda sea port, maritime transport, the Baltic Sea, railways and other infrastructure. euros
“Both the European Union and other developed countries have become highly dependent on production in Asia over time. Naturally, that strategic autonomy needs to be recovered. This is a great opportunity for Lithuania, when supply chains diversify, it will be seen these supply chains are resilient. This is a great opportunity for Lithuania to attract new investment again, “said V. Šapoka.
Vilius Šapoka
He was seconded by Mantas Katinas, CEO of Invest in Lithuania, who said that during the crisis, Eastern Europe could succeed in conquering the market better than before.
“Western Europe has increased production to Asian countries due to the value for money.” “It is expensive to produce certain goods in Western Europe, and Eastern Europe is a certain intermediate scenario: it is more expensive than Asia, but its value for money is better than in Western Europe,” said M. Katin.
Furthermore, according to V. Šapoka, Lithuania can use its capabilities in the medical field and attract or grow new companies in the field of pharmaceuticals and medical equipment.
“It is a great opportunity to invest in what was resilient during this crisis. This is the digital economy. Naturally, both the need, the relevance and the timing are right for us to truly digitize our economy. I am talking about both the public sector and from private. Investments related to climate change related to green energy. We have to do it faster and more efficiently, “said the Minister.
In total, in the year and a half since July 1 of this year, it is planned to invest 6.3 billion. euros It was previously planned to allocate 4.5 billion. euros
“The planned investment was 4.5 billion. An additional € 1.8 billion. These are new funds from both the state budget and the EU. It is important to see what return this will bring to Lithuania. An invested euro of 6.3 billion. Will bring a return of almost two euros. This is a particularly effective investment. This return means significantly better paid jobs, “said V. Šapoka.
The government has already allocated 500 million. € 155 million for emergency investments, of which € 155 million € 1 million was allocated for road repairs and paving of gravel roads.
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