7 Minutes
On his very first full day in office, Lithuania’s newly appointed Minister of Economy and Innovation, Edvinas Grikšas, joined a lively Fireside Chat at the Foreign Investors Annual Summit 2025 in Vilnius. In a candid and forward-looking conversation moderated by Ludvika Stepienė, Senior Policy Manager for the Baltics, the minister outlined his strategic vision for Lithuania’s economic future — built around balanced regional development, a startup-style government, and digitally empowered public services.
Mixing humor with clear priorities, Grikšas described Lithuania’s investment journey as transitioning from a “Green Corridor” to an “Investment Runway” — a platform ready for takeoff toward higher value-added growth, innovation, and global competitiveness.
From “Green Corridor” to “Runway Economy”
Asked to unpack his metaphor of a “runway,” Grikšas reflected on Lithuania’s evolution over recent years:
“We started with the Green Corridor and the Investment Highway. Now it’s time for the Runway. The next government might talk about investment teleportation,” he joked.
Behind the humor lies a strong record:
Over 20 large-scale FDI projects
More than €1.6 billion in investment
Around 5,000 new high-quality jobs
He stressed that Lithuania is no longer a low-cost destination, but a country advancing toward Industry 5.0, where innovation, skilled talent, and sustainable value creation take center stage.
“FDI today means better working conditions, global best practices, and opportunities for people to evolve. We must now focus not just on how much investment we attract, but how widely it is distributed across the country.”
A Vision for Regional Inclusion
Grikšas, originally from the southern city of Biržai, underscored the need to reduce regional disparities between Vilnius and other areas:
“By 2030, at least 30% of all foreign investment should go to Lithuania’s regions. True development means no part of the country is left behind.”
To achieve this, the ministry plans to:
Establish a Regional Economic Council with multiple ministries (Economy, Environment, Transport)
Launch Regional Specialization 2.0, encouraging each area to build its own economic niche
Transform industrial parks and “Sketching the Regions” hubs into innovation incubators
Strengthen cooperation with municipalities to accelerate approvals and infrastructure support
“The goal is a collaborative ecosystem — government, local authorities, and businesses working hand in hand.”
Life Sciences: Still a Living Priority
When asked why life sciences appeared less prominently in the new government’s program, Grikšas reassured the audience that the 5% GDP target by 2030 remains intact:
“Biotech is still a top priority in our Smart Specialization Strategy. We’re currently at 2.2% of GDP, but we’re scaling up.”
He announced three major initiatives:
BioCity Vilnius – a private-sector anchor project for biotech growth
Data Pilot 2.0 – a joint program with the Ministry of Health using data for innovative medical solutions
Biotech Sandbox in Kaunas – an upcoming accelerator for biotech startups and SMEs
“These initiatives show that life sciences are alive and thriving in Lithuania’s innovation agenda.”
Startup Thinking in Government
One of Grikšas’s most striking messages was his call for a startup mindset in public administration:
“The government must think like a startup — agile, fast, and solution-oriented.”
He outlined plans to:
Digitize workflows within the Ministry of Economy and Innovation
Merge innovation policy units for greater synergy
Expand GoTech Challenges, encouraging tech-driven public sector problem-solving
Introduce scale-up programs for best practices across institutions
The centerpiece is the creation of a One-Stop Digital Window — a unified AI-powered system allowing businesses to submit documentation once, with the government responsible for renewals and follow-ups.
Target:
35% reduction in administrative burden
2x improvement in public sector efficiency by 2027
“Permits shouldn’t take years. With AI and digitalization, we can make Lithuania’s government as efficient as its entrepreneurs.”
Positioning Lithuania in the European Innovation Landscape
Looking beyond national borders, Grikšas stressed that Lithuania must evolve from a policy follower to a policy shaper in Europe’s innovation ecosystem:
“We must lead by example — showing how small, agile economies can integrate defense, technology, and innovation into growth.”
Upcoming plans include:
A mid-term review of the Smart Specialization Strategy
Stronger links between defense innovation and civil industries
Doubling R&D spending from 1% to 2% of GDP by 2030
Shifting public procurement toward innovative and commercial approaches
Boosting technology transfer from universities to businesses
“We have excellent research in Lithuania, but commercialization is the missing piece. We’ll learn from best practices in the US, Ireland, and Germany.”
A Human Touch: Leadership with Balance
In the final segment, Stepienė invited the minister to reflect on his personal transition from department head to minister — a change he described with humility:
“Not much has changed — same meetings, same topics, just a different level. I’m still adjusting.”
He also shared light-hearted insights into his personal life:
Sports: Karate, running (regular & extreme), basketball, gym workouts
Discipline: “Absolutely essential for success.”
Family: “Always a priority — though the next six months will be intense!”
“I changed my phone, my car, and my office — from the fifth floor to the second. That’s the main difference!” he joked.
The conversation ended on a note of optimism and humor, reflecting a leader who blends strategic clarity with approachability.
Key Takeaways
30% of FDI to regions by 2030
AI-driven digital government to cut bureaucracy
Life sciences, FinTech, and defense tech as core growth pillars
Startup mindset in public sector reform
Commitment to R&D, innovation, and regional inclusion
Conclusion
The Fireside Chat offered a rare, first-day glimpse into Minister Edvinas Grikšas’s leadership philosophy:
a visionary yet pragmatic approach focused on empowering regions, modernizing governance, and leveraging technology to unlock Lithuania’s full potential.
His message was clear:
“Lithuania’s runway is ready — now it’s time to take off.”
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