Mindaugas Sinkevičius, the newly appointed Minister of Economy, says he wants Lithuania to become an “Eastern Europe’s startup paradise”, 15min.lt reports.

“(…) I will do my best that a set of legislation that would help Lithuania to become a startup paradise in Eastern Europe reaches Lithuanian Parliament this spring or next year,” Mr Sinkevičius said.

He suggests that initiatives from neighbouring countries could be made even better.

“Latvia is talking about taxes. We shall see what they do and how could we do it even better. We shall offer the best value as we wish to become a startup paradise. There’s no other way,” the Minister of Economy said.

He also suggests that even though the fiscal environment should remain tough, the money for areas that create long term value would still be found.