Finance

The Minister of Economy Dainius Kreivys by his order designated 8 million litas for funding of the two state-planned projects, intended to stimulate the competitiveness of enterprises. These projects will be implemented from the 2007-2013 EU structural support funds according to the Facility ‘Assistant-3’ from the Priority 2 "Increasing Business productivity and improving environment for business " under the Operational programme for the Economical Growth.

 
The goal of the Facility ‘Assistant-3’ is to enable companies to increase their international competitiveness and attract foreign investments to Lithuania. Structural support of the European Union assigned to projects in accordance with the Facility will be used for the promotion of foreign direct investment: analysis of target regions or direct investment of countries, search for companies willing to invest in Lithuania, organization of events for prospective investors, provision of economic information for the Lithuanian and foreign companies, development of the image of Lithuanian economy.

One of the largest projects planned in the ‘Assistant-3 ’ is "The Competitiveness Center (Phase I)”. In total, 7.2 million litas was assigned for the implementation of the first phase of this project. As a result of the project, a comprehensive system for the assessment and monitoring of competitiveness will be developed. It will help to evaluate the competitiveness of industries and certain companies of Lithuania, to identify the reasons limiting competitiveness, and to prepare plans for elimination of these causes and increasing of the efficiency of activities.

The remaining amount, 875 thousand litas, are intended for the project "Network for the assistance to clustering in Lithuania (PKLT) (Phase I)”. The project aims to create a favourable environment in Lithuania for the establishment of business and science clusters. Clusters will function as a framework for cooperation which will help to use the existing infrastructure of public services for business and personnel resources in Lithuania.
In total, it is intended to assign 49.57 million litas from the EU structural funds for the project implemented according to the Facility ‘Assistant-3’. The list of state planned projects to be funded according to this facility was adopted in September 2008.
You can find the list on the website of the Ministry of Economy: www.ukmin.lt/en