Romania kicks off EUR 450 mln grant scheme for manufacturing industry
<p>Romania's prime minister <strong>Marcel Ciolacu</strong>, 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.</p>

<p>The money will come from national and European budgets, the PM said, quoted by <a href="https://www.profit.ro/stiri/economie/premierul-ciolacu-adoptam-proiect-major-investitii-tinta-fiind-acum-dezvoltarea-industriei-prelucratoare-romania-schema-ajutor-stat-buget-aproape-450-milioane-euro-3-ani-21628288?mc_cid=6785c6e834&amp;mc_eid=cd1f92f96c" rel="noopener" target="_blank">Profit.ro</a>.&nbsp;</p>

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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: Gov.ro)</em></p>