NEW VISION AND OBJECTIVES IN THE STRATEGY FOR 2024–2029
The Competition Council has confirmed the Strategy for the next five years, which, among other things, announces a new vision and strategic goals and tasks for the Authority.
The Strategy for 2024–2029 is the main document for the development and long-term planning of the activities of the Competition Council. It defines the vision, mission, values, strategic goals, and objectives of the institution, and sets the criteria for their implementation.
The Authority's mission is to protect effective competition for the benefit of consumers, and it does so consistently with the exercise of its functions: implementing Lithuanian competition policy and supervising the compliance of market participants and public administration entities with the requirements of the Law on Competition and of the other laws within the Authority's competence.
By ensuring effective competition in the markets and creating benefits for consumers, the Competition Council contributes to the accelerated development of the economy, which is the basis for the prosperity of the whole country. In this context, the Authority has renewed its vision and stated that it aims to have a significant impact on the Lithuanian economy by enhancing the competitiveness of its markets and consumer welfare.
"We want our institution's contribution to the creation of a stronger economy to be significant, which is threefold: real - tangible and perceptible not only in the short term, but also in the long run; relevant - reflecting society's needs; and understandable - properly explained, disclosing the content of the competition rules and the importance of compliance with them," emphasised Jolanta Ivanauskienė, the Chairwoman of the Competition Council.
In implementing its vision, the Competition Council is guided by three values: proficiency, cooperation, and value creation. The Authority set these values back in 2018 and since then has been systematically fostering the understanding and importance of these principles, as well as following them in its communication with stakeholders and in implementation of its strategic goals. The latter have also been updated in the light of the institution's current activities and the challenges of the near future.
The first strategic objective aims to create benefits for consumers and/or increase the competitiveness of markets through the application of competition rules. In order to maximise the benefits of eliminating or preventing infringements, the Authority seeks to utilise its limited resources, and targets the application of competition rules in the areas of economic importance and rapid development through the annual prioritisation of its activities.
A higher level of competition culture would allow the Competition Council to better target its resources and focus on addressing systemic competition problems and preventing infringements. The second strategic objective is, therefore, to raise competition awareness among both business and the public sector.
The Competition Council also aims to improve its efficiency and competences. This third strategic goal is formulated in the context of the efforts to rationally manage its resources and improve its image as an employer. By continuously improving the internal processes and introducing an efficient project management model, the Authority is striving to eliminate non-value-creating stages of processes and to implement opportunities for standardisation and simplification.
The fourth strategic objective, to achieve a high level of digital maturity, relates to the Competition Council's plans to create a modern and secure internal digital environment. By integrating new tools and taking advantage of digital transformation opportunities, the plan is to optimise the use of digital instruments to improve operational efficiency and effectiveness and to exploit the potential for innovation.
The Strategy for 2024–2029 has been prepared considering the results of the Competition Council's internal strategy sessions and self-assessment, as well as the best practices of competition authorities in other countries. Plans for the implementation of the Strategy are being developed, with specific measures and projects of up to 1-3 years' duration, which are reviewed at least semi-annually.
