Romania wants to give manufacturing companies EUR 0.5 bln per year in grants
Romania will notify the European Commission with the aim of boosting the state-aid scheme for manufacturing industries from EUR 150 mln per year to EUR 500 mln per year and to prolong it from two years (2022-2023) to four years, until 2025, economy minister Florin Spataru told entrepreneurs in Prahova County.
The Government adopted the new state aid scheme of grants for investments in the manufacturing industry last August (Government Decision 959/2022).
The purpose of this scheme is to boost the attraction of investments from the manufacturing industry, with a direct effect on regional development, job creation and increasing the competitiveness of Romanian products by expanding and supporting value chains from different industrial branches, according to an E&Y update on the scheme.
Under the current form, the payments under the scheme can be disbursed until 2027.
The scheme, as defined under GD 959/2022, focuses on productive equipment and the payroll for the workforce involved in the production, while the expenditures for buildings – be they newly built or purchased – are not eligible. On the other hand, the productive equipment purchased should not necessarily be new.
(Photo source: Inquam Photos/Octav Ganea)