ECONOMY 400 companies to get EUR 17.2 million financial support for investing amid pandemic

A total of 400 enterprises from the manufacturing industry, trade and IT sectors, have met preconditions of the public call for financial support, aimed at strengthening business competitiveness during and after the coronacrisis, and will receive EUR 17.2 million financial assistance for investments.

The measure is part of the government’s third set of economic measures intended to support the economy and citizens amid the COVID-19 pandemic. It entailed that the government offer direct financial assistance up to 25% of the investment realized in the period March 2020-December 2021. Over 700 companies applied to the public call issued by the Ministry of Economy on July 31.

The measure entailed for domestic companies from the manufacturing industry, trade and IT sectors, that were not directly affected by the pandemic, to receive EUR 20 million in order to complete ongoing investment projects.

“This means that 400 enterprises will receive a total of EUR 17.2 million direct state support. Their investments are valued at EUR 89.2 million. Interest in the measure sends a clear message that national companies are prepared to invest even in times of crisis. I commend these brave investors, domestic entrepreneurs who have launched projects amid a pandemic,” Prime Minister Zoran Zaev told a press conference on Thursday.

Financial support, he added, will allow companies to grow and develop, which means they will be able to retain jobs and create new positions.

“The government is here to offer assistance in hard times, so that we can overcome this crisis together and come out the other end stronger and ready to resume economic development,” Zaev underlined.

Economy Minister Kreshnik Bekteshi told the news briefing that the government has shown that it cares and has supported in difficult moments all companies that have invested in competitiveness.

“Today we finalized one of the key measures adopted by the government during the state of emergency. Assistance provided by the government will increase investments, encourage export and strengthen productivity and competitiveness. Moreover, it will contribute to additional EUR 89.2 million in investments,” Bekteshi said.

The Economy Ministry, he added, will meet with company representatives next week to sign financial support contracts.

“Enterprises will receive funds 15 days after signing contracts,” the Minister underlined.

Implementation of this measures, he said, proves once again that the government treats domestic and foreign investors equally.

“Our companies get the same treatment as foreign ones and receive support from the government. New measures will confirm this notion,” Bekteshi said, announcing amendments to the Law on Financial Support of Investments to allow domestic and foreign enterprises make use of measures.

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