Business, EU – Baltic States, Legislation, Lithuania, Markets and Companies

The Lithuanian Government discussed proposals how to improve business environment based on the Doing Business project. The Government adopted a protocol decision in order to draw institutions' attention to the areas in which laws or decrees should be improved.

"The areas in which we intend to improve the situation are construction permit issuance and protection of minority shareholders', as well as other areas in which we are ranked low. The attention should be especially devoted to getting electricity, where we are ranked rather low. We could climb in the Doing Business ranking after adjusting the situation and cutting the terms," said Gustas.

The minister did not forecast how many spots Lithuania could ascend in the ranking if improvements are implemented.

"It is quite difficult to predict because we are improving our business environment, but do have in mind that other countries are improving theirs. Thus, it is difficult to say which will progress faster," said Gustas.

Lithuania is 10th Among the 28 European Union Member States in the Doing Business 2015 ranking. In the global ranking it is 24th of 189 countries.

Lithuania made one of the greatest progresses in the assessment period (1 June 2013 – 1 June 2014) in dealing with construction permits (ranked 15) and enforcing contracts (ranked 14). Lithuania is also ranked 9th in registering property, 23rd in getting credit and 21st in trading across borders.