One more extension for projects

One more extension for projects

The state will allow for the completion of investment projects subject to the 2004 investment incentives law as many as 21 years after their approval.

The Development and Investment Ministry is set to grant another extension to the completion deadline for a specific portion of pending projects of said law. These are, specifically, investment projects for which no advance payment has been made by the banking institutions to the operators of these projects despite the the state having provided a letter of guarantee for the stipulated amount.

In fact, although the relevant provision provides that the extension be given until September 30, 2024, under certain conditions it gives an extension for one more year, that is, until September 30, 2025.

The generosity of the ministry does not stop there. In the same amendment, it is provided that even if a decision has been issued to revoke the inclusion of an investment project in the development law, due to the expiry of the prescribed deadline for their completion, the decision of inclusion will come back into force.

The amendment was discussed on Wednesday in the plenary of the Parliament.

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