Romania Provided EUR300M In State Aid To 20 Major Investments – PM

During the forum, an Italian businessman asked the prime minister about financial aid for major investors. He pointed out that many investors were moving their businesses from western Romania to Serbia, which offers fiscal incentives according to the value of the investment and the number of employees. Furthermore, the businessman said, Serbia has specialized structures assisting investors with their project and charges lower taxes, while the country’s infrastructure is more developed and utility costs are lower than in Romania.

Boc replied that „the Government provides state aid for large investments, for instance those over EUR100 million which employ more than 500 people.” Especially large investments may receive subsidies of as much as 40%, he said.

The prime minister added that 20 investment projects worth over EUR1.1 billion, which created more than 10,000 jobs, received about EUR300 million in state aid by September 5, 2011.