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New rules for investment aid

COMPANIES asking for state investment aid will have to prepare for new terms starting in April 2013. On January 9 the government approved the changes, as elaborated by the Economy Ministry.

COMPANIES asking for state investment aid will have to prepare for new terms starting in April 2013. On January 9 the government approved the changes, as elaborated by the Economy Ministry.

According to the new rules, aid-seeking companies will have to guarantee the creation of at least 15 percent of new jobs from the average of the last 12 months, the TASR newswire wrote. However, the number of new employees shall not be less than 40, and they must be employed full-time for one year; while the part-time and seasonal jobs represent the shares of annual labour units. The jobs that ceased to exist during the previous year must be deducted from the number of jobs created within that period.

If the company asks for help to expand production in an existing plant, it must guarantee a growth in production – at least by 15 percent in value or volume for the last three fiscal years preceding the application, TASR wrote.

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