aA
Lithuania has risen three notches from last year to reach its highest-ever 11th position in the World Bank's latest ranking of 190 economies on the ease of doing business.
Lithuania climbs to its highest-ever 11th place in World Bank's rankings
© Shuterstock

Economy and Innovation Minister Virginijus Sinkevicius expects Lithuania to make it to the top ten list next year.

"The Law on Insolvency of Legal Entities, which is not included in this year's report, but has been already adopted and will take effect early next year, (...) will significantly improve Lithuania's score," he said in a press release on Thursday.

The law puts in place more flexible and shorter bankruptcy procedures, in line with the needs of modern business, according to the minister.

In the Doing Business 2020 report, Lithuania outperformed both Estonia and Latvia, in 18th and 19th places, respectively, and is the fourth-highest placed EU member state after Denmark, the United Kingdom and Sweden, the Economy and Innovation Ministry said.

The government's program sets the goal of reaching the top ten list in next year's Doing Business report.

New Zealand and Singapore held onto their first and second-place spots in this year's ranking, but Hong Kong moved into third position, pushing Denmark to fourth.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
|Populiariausi straipsniai ir video

Tax revenue 15 percent short of target in March

The Lithuanian central government's tax revenue fell around 15 percent short of the target in March,...

Avia Solutions Group bought Bluebird Nordic

On the 24th of January 2020, Avia Solutions Group signed an agreement with BB Holding EHF for the...

GetJet Airlines set to lay off 370 employees

Lithuania's wet-lease and charter services provider GetJet Airlines has given lay-off notices to 370...

Avalanche of ideas developed in 'Hack the Crisis' hackathon

One of the most important tasks for hackathon organizers was to identify the most pressing issues,...

Lithuania and some other EU countries ask for Mobility Package postponement

Lithuania and "like-minded" EU member states are urging the bloc's bodies to postpone the...

Top news

649 confirmed coronavirus cases in Lithuania

On 2nd April there were 649 confirmed COVID-19 cases in Lithuania.

Tax revenue 15 percent short of target in March

The Lithuanian central government's tax revenue fell around 15 percent short of the target in March,...

Disinformers take advantage of COVID-19 crisis

“Pharmaceutical industry denies the fact that vitamin C kills coronavirus ”, “Lithuania has...

Lithuania bans all passenger air and ferry travel from Saturday

The Lithuanian government on Wednesday imposed a ban, effective from Saturday, on all passenger air...

US organization expands its cooperation with Lithuanians in fight against Chinese disinformation

The Alliance for Securing Democracy , an independent organization operating in the United States ,...

|Maža didelių žinių kaina