Vilnius Plan, a municipal company, becomes a private limited liability company

Vilnius Plan, a municipal company that has been planning the infrastructure of Vilnius and providing innovative solutions to the city for more than 25 years, has been transformed into a private limited liability company. The change in the company’s status was made on the basis of a decision of the Vilnius City Municipal Administration and the Vilnius City Council. This decision is based on the recommendations of the Organisation for Economic Development and Cooperation and the implementation of good governance practices. The change in the legal form of the municipal company and its more efficient management is expected to increase the profitability of the company and, consequently, increase the collection of profit contributions to the municipal budget. The change of status is one of a number of changes to the company, with the municipality soon to update and approve a package of outsourced services that focuses more on planning the future of the city’s urban areas using big city datasets and analytics. “The change of the company’s legal status from a municipal company to a private limited company symbolises the path of good change that Vilnius Plan is on. From the side of the city administration, as the sole shareholder of the company, we are grateful to the company’s management and board of directors who have been in place for the last year and who signalled that the company is ready for such a change,” said Kipras Krasauskas, Assistant of the Vilnius City Municipality Administration. Until now, the company has mainly provided services to the Municipality, but now the company will have the opportunity to have a more significant presence on the market, to expand its range of services and to provide them to other companies. The transformation into a private limited company is also expected to increase transparency in governance. “We are already moving towards greater transparency and openness through good governance practices. The change of legal status allows us to gain greater independence and to operate competitively on the market, offering our services to a wider audience,” R?ta Klev?n?, Director of Vilniaus Plan, commented on the upcoming changes. According to the current legislation, Vilnius Plan, which changed its legal status on 31 March, will transfer all the rights and obligations it has had so far to the City of Vilnius. “Vilnius Plan aims to be a data-driven company for city life and development. Its perspective is to develop and manage digital solutions for the sustainable and innovative functioning of the city, to monitor city services and their management, to provide data for decision-making and, of course, to ensure the protection and security of the data it holds. The company will be able to achieve its objectives more efficiently and to market its services more widely.