More details surface about Romania's industrialization plan
<p>The support package for large industrial investments, approved [in principle] by the Romanian government on September 18, includes, among others, an installation bonus that can represent up to 35% of the investment, deputy prime minister Marian Neacsu, responsible for the development of the project, told Radio Romania, as quoted by <a href="https://economedia.ro/bonusuri-de-instalare-si-scutiri-de-impozite-in-schema-de-ajutor-pentru-marile-investitii-industriale-llansata-de-guvern.html?mc_cid=7db81a74b2&amp;mc_eid=cd1f92f96c" rel="noopener" target="_blank">Economedia.ro</a>.</p>

<p>The industrialization plan and the related support package were rather discussed, however, then approved by the government.&nbsp;</p>

<p>There will also be tax exemptions at the end of the investment, deputy PM Neacsu said.</p>

<p>"Upon the completion of the investment, we grant an exemption of up to 20% from the payment of taxes and fees that are due for a period of five years, constituting a kind of element of indirectly securing financial resources [...]. Another set of measures we are considering are those to streamline efforts before the start of the investment, those aimed at agreements, certificates, approvals, authorizations - basically, a procedure to cut the red tape and thus speed up the investments," Neacsu promised.</p>

<p>Deputy PM Neacsu also said that the sectors targeted are primarily the manufacturing industries, particularly the metallurgical, chemical, steel, and metal processing industry – especially the copper and aluminum production.</p>

<p>The state aid scheme for large industry will also need the approval of the European Commission, the deputy prime minister said.</p>

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

<p><em>(Photo source: <a href="https://www.dreamstime.com" rel="noopener" target="_blank">Silviu Matei/Dreamstime.com</a>)</em></p>