Romania extends state aid scheme to bolster audiovisual production

The Romanian government has taken a significant step to support the country's audiovisual production sector by approving an extension of the state aid scheme originally established in 2018. This measure aims to ensure the continuity of the framework that supports the production of audiovisual works within Romania, thus enhancing the industry’s growth and resilience.

On June 18, the executive decided to modify Government Decision no. 421/2018, which has been instrumental in attracting investments and skilled labor to the film and audiovisual sectors. By extending the duration of this scheme, the government hopes to promote Romania as a competitive destination for international productions.

The proposed extension will add three years to the application period, pushing it to December 31, 2029, for the issuance of financing agreements, and to December 31, 2031, for the execution of payments. This proactive approach seeks to maintain the predictability necessary for investment decisions and to fully utilize the already approved budget ceiling.

The total maximum budget for this state aid scheme remains unchanged at 1.2 billion lei, which is approximately 241.12 million euros. Without this extension, there is a risk that some projects could relocate to other EU member states, negatively impacting investments, specialized job opportunities, and economic revenues in Romania.

Ultimately, the government's decision reflects a commitment to the development of the national creative industry, reinforcing the importance of a stable and supportive environment for audiovisual production in Romania.