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Flemish Parliament votes decree on economic support policy

The Flemish Parliament passed the bill on the economic support policy proposed by Minister of Economic Affairs Jaak Gabriels (VLD). The decree changes the regulations for granting expansion support to companies

Apart from general investment incentives the Flemish authorities can give extra support to ecological investments, as well as for advice on entrepreneurship and for the equipment of industrial parks, amongst others.

The classical investment support will be organised through a call-system, a sort of "competition" between companies that meet the criteria. The system will absorb 30 to 40 % of the budget. The system is intended for investments up to a maximum of 25 million euro. For larger investments the decision on potential support will be taken by the Flemish Government itself.

Reported by
24 January 2003

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