ECONOMY FINANCE&BANKING INVESTMENTS

Five new companies to benefit from state aid scheme for stimulating investments

Minister of Public Finance Eugen Teodorovici on Monday handed over to representatives of five companies financing agreements granted based on the state aid scheme for boosting investments with a major impact in economy, so that the number of this year’s beneficiaries increases up to 14, the total amount earmarked from the state budget being worth almost 860 million lei.

Attending the ceremony, Prime Minister Viorica Dancila specified this was the second session meant for handing over financing agreements based on the state aid scheme 807/2014.

“This is an indicator showing that the Romanian economy is dynamic and enjoys the trust of the business environment. If in early November, nine investment projects worth 1.3 billion lei received the Government’s support, today we commit to support another five projects worth 1 billion lei. The financing granted from the state budget for the 14 investments is worth almost 860 million lei. These are investments that bring added value to the Romanian economy and also important social benefits. Approximately 3,3000 new jobs will be created under the 14 projects,” she said.

Dancila spoke about the increased interest of investors in this state aid scheme, shown through “the large number of applications filed in a relatively short amount of time.” She also mentioned that the Government will supplement this state aid scheme budget by more than 1 billion lei, funds to be earmarked for the budget revision adopted in end-November.

Moreover, the state budget for next year, the policy meant for stimulating investments through state aids will be maintained as “an important point,” said the Prime Minister.

Dancila drew attention on the fact that four our of the five investments are made in the car industry, “a sector with a strong impact on the development of the Gross Domestic Product [GDP], with an important contribution to the state budget.”

Minister of Public Finance Eugen Teodorovici specified that 50 applications were filed this year.

Teodorovici also added that, through this state aid scheme, there were supported seven projects in 2015, four in 2016, none in 2017 and 14 in 2018.

On Monday, financing agreements were granted to the following companies Automobile Dacia SA, Sogefi Suspensions Eastern Europe SRL, Swoboda Sibiu SRL, Martur Automotive Seating and Interiors SRL, Omnia Europe SA.

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