The State aid schemes for the deveopment of investments administrated by the Ministry of Finance have been extended until June 30, 2014

Given the strategic objectives to encourage investment, business support, recovery of the investment attractiveness of Romania and creating new jobs, the Ministry of Finance aims to finance investments with immediately economic and social impact.

The Ministry of Finance manages three aid schemes whose validity was extended until June 30, 2014 as follows:

1. The state aid scheme for ensuring sustainable economic development - state aid scheme open.

The scheme provisions apply to companies that are investing in Romania and which fall into one of the following categories:

• make an initial investment between 5 and 10 million euro, including the equivalent in lei, and create at least 50 new jobs as a result of the initial investment;
• make an initial investment between 10 and 20 million euro, including the equivalent in lei, and create at least 100 new jobs as a result of the initial investment;
• make an initial investment between 20 and 30 million euro, including the equivalent in lei, and create at least 200 new jobs as a result of the initial investment;
• make an initial investment of over 30 million euro, equivalent in lei, and create at least 300 new jobs as a result of initial investment

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2. The state aid scheme on regional development by stimulating investment - state aid scheme open.

The State aid scheme provisions apply to large enterprises that cumulatively meet the following conditions:

• To make an initial investment exceeding the equivalent in Lei of 100 million euro and the amount of eligible costs exceed the equivalent in Lei of 50 million euro;
• To create at least 500 new jobs as a result of the initial investment.

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3. The state aid scheme to support investments that promote regional development through the use of new technologies and the creation of jobs - State aid scheme open.

The investments for which financing is requested under the state aid scheme must cumulatively fulfill the following eligibility criteria:

• To be an initial investment (investment consisting of tangible and / or intangible actives, related to the achievement of a new establishment, the extension of an existing establishment, diversification of the production of an establishment through new additional products or a fundamental change in the overall production process of an existing establishment )
• To be an innovative investment or include an ICT component of 20% of the investment plan (excluding land and buildings);
• To lead to the creation of at least 200 jobs;
• to prove the viability of the investment project and the economic efficiency of the enterprise on the basis of the business plan;
• to prove the contribution to the regional development through the effective payment of taxes to the general consolidated budget and local budgets during the implementation of the investment and five years after its completion, minus the amount of the state aid. This contribution shall be in an amount at least equal to the requested state aid.

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For all the investment projects submitted or to be submitted and for which, after analyzing the documents will be issued a grant agreement in 2014, the Ministry of Finance is considering the payment of the state aid according to the implementation of investment plans chart in the period 2015 - 2018, within the approved annual budget appropriations.

Source: www.mfinante.ro