Romania's prime minister Marcel Ciolacu, before the June 13 meeting of the executive, announced that the government is endorsing the three-year grant scheme with a budget of EUR 450 million, dedicated to supporting investments in manufacturing industries.

The money will come from national and European budgets, the PM said, quoted by Profit.ro. 

The grants will be given to develop new lines of business or start entirely new businesses.

The Ministry of Economy (MEAT) announced in March that it was preparing the emergency ordinance to launch a new grant scheme for manufacturing companies operating in underdeveloped regions of the country, with a budget of nearly EUR 450 million over the three-year lifespan and EUR 150 million this year.

A similar grant scheme was launched in December 2022 with a EUR 300 million budget to be awarded during 2023 and disbursed until the end of 2027.

The scheme's fundamental objectives are mainly to reduce the trade deficit from the manufacturing industry and stimulate investments in new production capacities in less developed counties.

iulian@romania-insider.com

(Photo source: Gov.ro)