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Ensuring that SOEs perform efficiently – and on a level playing field with private competitors – is crucial for allocative efficiency in the broader economy and sound management of public resources. Making sure that SOEs operate in a clean and transparent manner is critical for maintaining citizens’ trust in the institutions which have been tasked with overseeing SOEs on their behalf.
This report evaluates the corporate governance framework for the Lithuanian state-owned enterprise sector relative to the OECD Guidelines on Corporate Governance of State-Owned Enterprises. The report was prepared at the request of the Republic of Lithuania, reviewed by the OECD Working Party on State Ownership and Privatisation Practices and is based on discussions involving all OECD countries.
Since regaining its independence in 1990, Lithuania has undergone a remarkable economic transformation. By the end of 2000, this process had been greatly stimulated by the inflow of some US$2.3 billion in foreign direct investment. FDI has contributed to green-field investment, mergers and acquisitions, as well as the privatisation of state-owned-enterprises. Creating favourable conditions for FDI has been a core element of