Romania’s government planning EUR 100 mln fund for high-end industries

Newsroom 14/10/2016 | 12:40

The Romanian government is currently working on a fund that will focus on industries that generate a lot of value.

Manuel Costescu, the former head of InvestRomania, told BR that the “government currently has under development a fund with a value of EUR 100 million, focused on the high-end industries with added value.”

The former government official did not elaborate on this comment, but he underlined the fact that the technology is fundamental for the development of Romania and around 5.6 percent of GDP is currently generated by the IT industry.

Costescu stated that the recent decision of the government to grant an exemption on the 16 percent income tax in the case of workers in applied R&D shows that Romania is looking to attract more complex investments across the country.

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At present InvestRomania manages over 90 projects with planned investments of EUR 2 billion, according to Costescu.

He added that around 50 percent of Romanian students graduated in STEM fields (Science, Technology, Mathematics, Engineering).

Costescu resigned from the role of state secretary at the Ministry of Economy, as he plans to run in the December parliamentary elections. He talked to BR when he was still in office.

Ovidiu Posirca

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