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Friday, 19.04.2024, 23:19
Estonian minister: EUR 1 mln large investor support to help increase export capacity
The minister signed a regulation supporting
the distribution of large investors' money to processing industry sectors, the
Ministry of Economic Affairs and Communications said.
"With the support in question, we want to encourage
large investors to invest in new production units and high added-value product
development," Kingo said.
The 1 mln euro grant is intended for investors with a
revenue of at least 50 mln euros and an investment of at least 10 mln euros.
The grant can be used for the acquisition of both tangible and intangible fixed
assets and for the construction of a new building.
The sum earmarked for the support in the state budget
is 2.5 mln euros a year, which is why few, but then again the most impactful
investments will be supported. At the same time, entrepreneurs who
contribute to investments outside Tallinn and Harju County will be
more highly valued in the framework of the support scheme.
The support can be applied for from Enterprise Estonia.
Previous recipients of large investor support include Metsa Wood, Marketex
vision (BLRT Grupp), Estonian Plywood AS and Westaqua-Invest.
The large investor support scheme is part of the
government's 100-day plan.