The Lithuanian Parliament (Seimas) has approved a package of legislative amendments initiated by the Ministry of Economy and Innovation (EIMIN), establishing the “Investment Highway” – one of the most investor-friendly frameworks in the region.
Starting immediately, an investment calculator is publicly available on the ministry’s website, where incoming investments to Lithuania are registered.
We have set an ambitious goal: to attract €10 billion in investments by 2030, thereby ensuring economic growth and further contributing to defense funding. We want Lithuania to become an even more advanced country, where major investment projects can be launched within a few months and completed within one to two years. This is precisely the purpose of the Investment Highway initiative.
Minister of Economy and Innovation Lukas Savickas.
Until now, investment projects were often delayed by lengthy territorial planning, land formation, or permitting processes. In some cases, obtaining permits could take up to three years. The Investment Highway model adopted by Seimas will ensure faster and clearer decisions: processes will be at least twice as fast, and construction procedures will be simplified. Nevertheless, community involvement and environmental impact assessments will remain an integral part of implementing investment projects.
The simplified conditions will also apply to investment projects implemented within free economic zones, where land formation will proceed more quickly, planning rules will be clearer, and environmental impact assessments will be streamlined.
Additionally, the application of corporate tax incentives will be revised: incentives will apply from the moment project results are achieved, rather than from the project’s start. This is expected to provide a significant stimulus for long-term investments.
The legislative amendments adopted by Seimas will also strengthen institutional support. The national investment promotion agency “Invest Lithuania” will become the main coordinator for large-scale projects. The agency will not only advise investors but also actively mediate between institutions, monitor deadlines, and propose systemic improvements.
The adopted amendments to the Investment Law and other related laws will also significantly accelerate the development of smaller defense industry projects. Changes initiated by EIMIN together with the Ministry of National Defence will simplify new construction processes for defense industry investments. Under these changes, the current permitting system will be replaced with a phased technical project examination and a notification-based construction process.
The legislative amendments will enter into force on November 1 of this year.
Featured image: Edited by Fintech News Baltic, based on images by user18375816 and kavalenkava via Freepik
