State aid of a maximum of 644.55 mln RON for Renault Group companies

The Ministry of Finance has financed seven investment projects for the three companies of the Renault Group, with a total value of over 2.242 billion RON, which generate 1,478 new jobs, and the state aid granted is worth a maximum of 644.55 million RON, informs the institution through a press release.According to the cited source, the projects generate direct contributions to regional development through the payment of fees and taxes of over 1.247 billion RON. Currently, five investment projects with a total value of 1.438 billion RON have been completed, which generated a number of 1.178 jobs, and the state aid granted is 436 million RON.Minister of Finance Marcel Bolos paid a working visit on Tuesday to the Titu Technical Center of the Renault Group, one of the company's most important research and development platforms in Europe."We must always be attentive to the needs of the business milieu and to concrete measures that generate progress. In this sense, we gave them good news. After discussions with ACAROM, CONCORDIA, AHK and CCIFER, we prepared a normative act by which we propose a measure of support for this strategic area, by applying the tax deduction for research and development expenses, starting in 2024, and for companies that pay the minimum turnover tax. I hope that the project will be approved at the level of the governing coalition reach the Government as soon as possible", mentioned Marcel Bolos, quoted in the press release.The minister of finance discussed with the management team of the Renault Group about the situation of the automotive industry and about the future investment projects of Renault in Romania, on the occasion of which the need for additional measures to stimulate the research and development sector, for the industries that develop technologies, were pointed out new and contribute to the country's competitiveness."Dacia-Renault is an example of good practices and an important investor in the Romanian economy. One of the principles that guide me, as minister of finance, is that large-scale investments in the economy generate, in addition to jobs, the development to a very important sector, a multiplier effect for regional development", Bolos emphasized.During the meeting, Marcel Bolos reiterated the Government's wish to create a favorable environment for business development and for attracting new investments, both through balanced fiscal policies and by supporting innovation and digitization.The visit also included a presentation of the latest technological innovations and research projects under development at the Titu Technical Center.