Rūta SlušnytėMykolas Romeris University

Seimas of the Republic of Lithuania in 1996 16 December Act established the Ministry of Economy replacing the former ministries of Economics, Energy and Industry and Trade.

A State Body that Creates a Favourable Legal and Economic Environment to Ensure Public Welfare and Employment.

Mission- to develop positive legal and economic environment for economic development and ensure public welfare and employment.

Major focus is placed on promotion of innovations, improved administration of the EU structural funds and small and medium-sized business development.

The Ministry of Economy is involved in performing the following actions: implementation of general economic (macroeconomic)

policy; implementation of the National Long-term Development

Strategy; shaping and implementing the economic sectoral policy; regulation of the activity of economic entities and

management of property owned by the state; shaping and implementing the foreign economic policy; co-ordination of implementation of European Union

(hereinafter – the EU) internal market policy in Lithuania; administration of financial assistance from EU Structural

Funds.

Minister of the Economy- Dainius Kreivys

Vice-Minister- Arnoldas Burkovskis

Vice-Minister- Mindaugas Petrauskas

Chancellor of the Ministry of Economy- Gediminas Miškinis

Minister of the Economy- Dainius Kreivys

Institution has a few outstanding mechanisms of policy formulation and implementation: schemes of business support, business to government deliberation mechanism known as “Sunrise commission” and project oriented structural reform.

Support for business “Sunrise” commission Project oriented

structural reform

1 orientation in

consensus

+ + ?

2 participation + + +

3 the rule of law + + +

4 effectiveness and

efficiency

? ? +

5 equity and

inclusiveness

+ + +

6 responsiveness + + +

7 transparency ? + ?

8 accountability + + +

The scheme of business support complies with the basic principles of good governance.

Studying “Sunrise” commission showed that it covers nearly all good governance principles, except for effectiveness and efficiency, analysis for which could not be completed due to a shortage of available data.

Analysis suggests that project oriented structural reform generally satisfies the good governance principles.