Exclusive    State aid event: Some 62 percent from the current state aid scheme are available until December 2013

2012-06-07 13:16:48

The mechanisms and current status of the current state aid scheme for private companies and also, the global image over this incentive have just been detailed within the power breakfast event on “State aid – opportunity for investments” organized today by The Diplomat-Bucharest magazine, in partnership with the auditing and tax consultancy firm Noerr. The debates of the event focused on specialized case-studies, analyzing different business scenarios  within the available current state aid scheme, and welcome top managers, financial and operational experts from different industry segments and companies, such as: Holzindustrie Schweighofer, Air Liquide Welding, Roca, Hog Slat, Yazaki, World Machinery Works, diplomats, financial experts and also legal representatives from banking sector.
The general message stated within the debates of the event has been underlined by Iulian Sorescu, associated partner and head of financial department within Noerr.  Projects can submit to the current state aid scheme by late December 2013, even if the authorities run talks on the possibility of expanding the scheme to another stage 2014 – 2018. “Therefore, the companies that plan to apply for non-reimbursable funds should start checking for the eligibility of their project, “ Iulian Sorescu stated.
Since 2008, some 38 percent of the available state aid scheme has been consumed but another 62 percent funds are available, for investment projects of minimum EUR 5 million.
State aid as non-reimbursable funds is now a real tool for investors, irrespective of nationality and type of investment, either they are greenfield, extension or  any eligible industry field that prove to have  business  proficiency.  Within the current state aid scheme, the companies need to know that compared with  the start of the scheme in 2008, when the regulations addressed larger investment amounts and larger employment requests, now, the scheme addresses to a wider eligibility segment, with project investments starting at minimum EUR 5 million and  establishing 50 workplaces. The companies eligible for this financing can benefit of up to 50 percent cash reimbursement on initial investment from Romanian authorities.