Ministry of Economy announces 300 million Euro state aid scheme for investments in the manufacturing industry

The Ministry of Economy launched in public debate the decision on the establishment of a state aid scheme with the objective of granting state aid for investments intended for the manufacturing industry.

“We are coming up with a state aid scheme worth 300 million euros, which will relaunch the economy in this sector. It is necessary to act by supporting the Romanian economic operators to develop the production potential for materials / products / equipment and services necessary for the market, by ensuring the necessary financing sources and production capabilities. At the same time, we must attract new investments and develop new production capabilities to increase the resilience of the Romanian manufacturing industry and to ensure the competitiveness of Romanian industrial products on international markets. Therefore, the Ministry of Economy proposes measures for granting grants to stimulate the Romanian economy from the perspective of developing value chains,” said Florin Spătaru, Minister of Economy (photo).

The main objective of the State aid scheme proposed by the Ministry of Economy is to provide grants for initial investments or for an initial investment in favor of a new economic activity in the manufacturing industry. Its application will be made based on financing agreements issued by the Ministry of Economy until December 31, 2023, the payment of state aid will be made in the period 2022-2027, within the annual budget allocated to the scheme, equivalent in lei of the amount of 150 million. The maximum budget of the scheme is the RON equivalent of the amount of 300 million euros, and the maximum estimated number of enterprises to benefit from state aid under the scheme is 20.

Eligible expenses include investments in tangible and intangible assets related to starting a new unit, expanding the capacity of an existing unit; diversifying the production of a unit through products that were not previously manufactured in the unit; fundamental change of the general production process of an existing unit; creating new jobs.

The application of the state aid scheme helps to create new jobs, with a direct impact on regional development, respectively the alleviation of poverty (combating inequalities, social injustice) and encourages the acquisition of green technologies that support the protection of the environment. Also, the project has a favorable impact on the business environment through financial support to support the sustainable development of enterprises in the manufacturing industry and the development of value chains and the Romanian presence in European / international value chains.