Gov't increases its maximum annual budget to 145 million euros for boosting investment of a major economic impact

 The Government on Wednesday amended the state-aid scheme for boosting investment of a major economic impact, increasing its maximum annual budget by almost 50 percent, from 100 million euros to 145 million euros, according to a Government press statement released on Wednesday. 

"The amending bill is the result of intense consultations with business leaders and it is aimed at simplifying, increasing flexibility and cutting through red tape in relation to procedures in order to make more efficient the mechanism for conducting the state aid scheme. The approved modifications do not concern the scheme's compatibility with the EU provisions in the area; they do not change the scheme's objectives or the manner of determining the state aid, so as to ensure equal treatment for the current and the possible future beneficiaries of state aids," reads the statement. 

The measure was taken because of the business environment's interest in achieving wide-covering investment with significant effects on the economy, designed for the high business sectors, as this is the only mechanism to attract and support investment in tangible and intangible assets carried out by large enterprises in Romania, the Government says. 

The state-aid scheme is valid until December 31, 2020, and the Public Finance Ministry is its supplier. 

Developed by Codecraftsman