Specific functions of the Ministry of the Economy include:

• laying down guidelines for economic development in Lithuania, defining priorities and objectives for the various economic sectors (energy, industry, trade), submitting offers for the Public Investment Program to the government and arranging public investment policy;
• preparing and implementing a national energy strategy and ensuring a reliable energy supply;
• foreseeing (together with other ministries) public economic regulation policy and developing draft legislation on the implementation of economic regulation policy;
• managing state property administered by the ministry and participating in the privatisation and rational employment of the property, and promoting and supporting small and medium business development;
• preparing and implementing programmes and strategy for the development of foreign trade, co-ordinating the control systems of import, transit and export of strategic goods;
• participating in the co-ordination of laws of the Republic of Lithuania with directives of the European Council and offer legal acts of the European Union, and co-ordination of PHARE projects.

The following institutions assist in solving these problems: Lithuanian Development Agency for Small & Medium Sized Enterprises (tel. 370 2 616291, fax 225966); state-enterprise Energy Agency (tel. 370 2 629731, fax 618955) and Institute of Economics and Privatisation (tel. 370 2 621026, fax 226740).

The Ministry of Economy employs 215 people. The Minister is Mr Vincas Kestutis Babilius (tel. 370 2 622416, fax 623974). Vice-Ministers are:

Mr Antanas Bartulis (tel. 370 2 623901, fax 623974);
Mr Gediminas Miskinis (tel. 370 2 226858, fax 623974);
Mr Viktoras Valentukevicius (tel. 370 2 618896, fax 615140);
Secretary of the Ministry, Mr Antanas Mercaitis (tel. 370 2 626584, fax 623974).

Departments and independent divisions of the Ministry are:
Department of Economy Strategy, tel. 370 2 624640
Department of Enterprise Economics, tel. 370 2 619693
Department of Industry, tel. 370 2 628904
Department of Enterprise Management, tel. 370 2 628604
Department of Energy Development, tel. 370 2 226692
Department of Energy Resources, tel. 370 2 629693
Division of Export-Import Regulation, tel. 370 2 625030
Division of Internal Trade, tel. 370 2 628519