The Investment Aid for COVID Products supports projects that increase/ initiate/diversify production to be able to produce COVID-19 related products.
Malta Enterprise has launched a scheme entitled ‘Investment Aid for COVID Products’. The aid supports undertakings to carry out investment projects to increase or initiate production of COVID-19 relevant products or to diversify existing production to be able to produce such products.
The aid is mainly in the form of cash grant not exceeding 80% of the eligible costs related to COVID-19 related products that are completed within 6 months from the start of works. Eligible costs must be incurred after 1 February 2020 and must fall within the following categories:
The aid may be increased by an additional 15% if the project is completed within 2 months for the aid being approved or the project is carried out in collaboration with another undertaking established in another Member State which is also receiving support from that Member State.
Applications are open. The scheme is available till 31 December 2020.
Further details can be found in the scheme’s Guidelines.
This measure has been approved by the European Commission on 12 May under the Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak, as amended to date.
Should you have any queries or wish to discuss further, please send an email to email@example.com.
The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.
© 2020 KPMG, a Maltese civil partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.