Iulian Sorescu, Noerr: “We are facing a booming period based on the fact that the number of companies willing to invest is constantly growing”

“We see that some industries are more affected by the pandemic, others are less affected. We have adapted, reinvented ourselves. We realized that we could work from home as easily as from the office. Our company was growing over the last year. One of our specialties is related to state aid, respectively offering non-reimbursable funds to companies willing to invest. We are facing a booming period based on the fact that the number of companies willing to invest is constantly growing. We have much more projects than last year,” Iulian Sorescu, Partner, State Aid Expert, Noerr said during Automotive R&D Power Breakfast organized by Automotive Today.

“The current context is one of the best that we have for state aid schemes. Companies willing to invest, to recruit people have the opportunity to get non-reimbursable funds from the authorities. The schemes were extended by three years in Romania. We have enough money in the budget. I’ve never heard Romanian authorities saying they don’t have money in the last couple of years.

Romania still has the highest percentage of state-aid in the region, with 50 percent. The schemes were improved and refreshed last year. The pandemic has improved the state aid schemes. The schemes are more flexible. Currently we have one scheme for CAPEX investments, meaning that investments larger than one million Euro can get 50 percent of their cost. We have a scheme for labour intensive companies, meaning that companies willing and able to create more than one hundred employees can get up to 50 percent of their total salary costs. A company investing in R&D could take more than 5 million Euro state-aid as finance for the salary costs.

The Government launched a new scheme for strategic investments. Investments larger than 100 million Euro now get state-aid. This could be the perfect ingredient for attracting strategic investors in Romania with investments worth billions of Euro.”

Click here for full recording of the event.