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Seimas approved reorganisation of state enterprises in transport sector into joint-stock companies

Date

2021 09 16

Rating
1
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Four enterprises in the transport sector – Lithuanian Airports, Oro navigacija, Klaipėda State Seaport Authority and Lithuanian Inland Waterways Authority – will soon begin reorganisation into joint-stock companies. The legal possibility for such reorganisation was granted by the Seimas after its approval of the President’s suggestions on the adjustment of legal provisions.

 

“Thank you to the President for the support. We are happy with the decision of the Seimas – the legal conditions for the reorganisation of enterprises have finally been ensured. There is a lot of work to be done, but the important thing is that after reorganisation, the enterprises will be able to operate more effectively and provide more benefit for the country. Lithuania has shown that it is ready for such changes,” said Minister of Transport and Communications Marius Skuodis.

 

The legislative package necessary for the reorganisation of the enterprises revised by the Seimas was approved along with the President’s suggestions. The Ministry of Transport and Communications considers the President’s suggestions as a contribution to the good management and transparency of the enterprises to be reorganised and strengthening of national security.

 

The reorganisation of state enterprises is carried out while implementing the Government’s programme and the recommendations of the Organisation for Economic Co-operation and Development (OECD) to review, simplify and unify the legal forms of state enterprises.

 

In view of the OECD recommendations, the Ministry of Transport and Communications initiated the reorganisation of the above-mentioned state enterprises into joint-stock companies as early as in 2018. In the same year, the Government approved the amendments to the legislative acts necessary for such reorganisation, but they were not approved during the previous term of the Seimas.

 

This year, as the programme of the new term of the Government is being implemented and the Ministry of Transport and Communications has renewed its efforts to reorganise the state enterprises, the Cabinet of Ministers approved the conclusion submitted by the Ministry regarding the draft legislative acts prepared by the previous Government, enabling the reorganisation of state enterprises. After the Seimas approved the amendments to the above-mentioned legislative acts during the spring session, the President vetoed them; therefore, after the veto, the legislative package was returned to the Seimas for revision.

 

In the autumn session of the Seimas, it is also planned to consider the reorganisation of the State Enterprise Lithuanian Road Administration into a joint-stock company.

 

It is planned to conclude the reorganisation of state enterprises into joint-stock companies by the end of 2022.