1. Rūta Slušnytė Mykolas Romeris University

2.  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.

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

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

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

6.  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.

7.  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

8.  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.

9. 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+++

10.  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.