POLITICS & INSTITUTIONS - ECONOMY

New help for businesses



Franz Fayot says new state aid instruments will encourage businesses to make medium- and long-term investments in challenging times Romain Gamba/Maison Moderne

Franz Fayot says new state aid instruments will encourage businesses to make medium- and long-term investments in challenging times Romain Gamba/Maison Moderne

Minister for the economy Franz Fayot (LSAP) says a new bill providing aid for business is crucial to help boost the economy. “The current crisis has worsened the business climate and can lead companies to postpone, or even question, certain investment projects. To encourage businesses to make medium- and long-term investments in these challenging times, we are launching this financial assistance program as part of a sustainable economic recovery policy.”

The new bill allows companies to claim aid amounting to up to 30% of the cost of the project (depending on the size of the undertaking), with an increase of 20% for projects that are defined as being part of the circular economy. Investment aid for process and organisational innovation projects can reach up to 50% of the cost of the project, while a similar share is available for energy efficiency projects. 

Further details of the modalities and criteria will be posted on guichet.lu, and applications for the schemes can be submitted from Monday 27 July exclusively online via the Myguichet.lu platform.

The ministry of the economy and Luxinnovation, in collaboration with the Chamber of Commerce, the Chamber of Trades and Fedil, is also hosting webinars in three languages:

In French on 30 July at 11 am (online registration)
in Luxembourgish on 5 August at 11 am (online registration)
in English on 9 September at 11 am (online registration).

This article was originally published in French by Paperjam and has been translated by Delano