The Government has adopted an Emergency Ordinance regarding the establishment of measures for financing tourism investments. According to the normative act, by derogation from Law no. 273/2006, tourism investments can be financed over a period that can extend up to 4 years, with the possibility of extension for another 2 years.
The Emergency Ordinance adopted by the Government regulates the methods by which state budget contribution amounts can be settled, the use of amounts transferred from the Ministry of Tourism’s budget, as well as the possibilities for their recovery in case of non-compliance with legal or contractual provisions.
By adopting this emergency ordinance, the gaps between tourism development in Romania and competing countries worldwide will be reduced as a result of the impact of the investments carried out.
Source: Wall-Street
Frequently Asked Questions
What is the maximum financing period for tourism investments?
Investments can be financed for up to 4 years, with a possible extension of 2 additional years.
How are the funds managed under this new OUG?
The ordinance regulates the settlement of state budget contributions and the use of funds from the Ministry of Tourism.
What happens if legal or contractual provisions are not met?
The Emergency Ordinance includes specific provisions for the recovery of funds in cases of non-compliance.