The Ministry said the facilities will be granted for investments in the processing industry, the production and supply of electric power, thermal power, natural gas and hot water, sanitation, waste management, telecommunications, as well as for professional, scientific, technical and administrative activities.
Incentives will be granted by authorities by means of certain normative or administrative acts setting state aid grids or individual aid in compliance with the EU regulations in the field.
State aid will be provided by central or local public authorities, as well as by other institutions administrating state funds or the financial resources of local organizations granting this type of incentives.
The draft law on investments was initiated last year by the Ministry of Economy alongside the Ministry for Small and Medium-sized Enterprises, Commerce, Tourism and Liberal Professions.
According to Eurostat, the eastern European country saw its gross domestic product go up by 8.2% during the first three months of this year.
This is more than three times the amount that was recorded across the EU as a whole during the same period.
In addition, the figure is also up from 6% in the first quarter of 2007, which was Romania’s first year as an EU member.
According to finance minister Varujan Vosganian, this trend has been driven by growth in the construction and service sectors.
This suggests that the growth of tourism and overseas property investment is having a positive impact on the real estate in Romania.
Property in the eastern European country is currently in high demand.
This has led to supply being fairly restricted, which in turn has made available properties much more highly sought-after, thus increasing their prices.