HG 486: 759 million lei for industrial investments of at least €10 million, deadline 25 Nov.

On 15 October 2026 the Ministry of Finance opens the first call window for applications for a funding agreement under the state aid scheme established by HG No 486/2026. The scheme is intended for investments in products with a trade deficit in the manufacturing industry. 759 million lei are available for this call window. SMEs and large enterprises making an initial investment of at least 50 million lei (approximately 10 million euro) can apply. Applications are submitted exclusively online, through the Big Project 486 application, by 25 November 2026, 17:00.

In brief

• Programme: state aid scheme to stimulate investments in products with a trade deficit in the manufacturing industry (HG No 486/2026)
• Authority: Ministry of Finance
• Beneficiaries: active or newly established enterprises, SMEs and large enterprises, investing in Romania in the sectors listed in Annex 1
• Total budget: 5.313 billion lei (approximately 1.05 billion euro) for the whole scheme; 759 million lei for the first call window
• Value per project / intensity: eligible costs of at least 50 million lei; the maximum intensity varies by region and company size (Annex 3 to the HG)
• Submission period: 15 October – 25 November 2026, 17:00, online, through the Big Project 486 application
• Status: call window announced, opening on 15 October 2026

Who can apply?

The scheme is aimed at both active and newly established enterprises, whether they are SMEs or large enterprises. The condition is that the company makes an initial investment in Romania in one of the manufacturing sectors listed in Annex 1 to the decision. The annex includes CAEN codes (Romanian NACE codes) from the food industry, textiles, wood processing and paper, chemicals, the pharmaceutical industry, machinery manufacturing, the automotive industry and other branches of manufacturing. According to the decision, the scheme is expected to fund up to 200 enterprises.

The eligibility conditions set out in the HG include:

• the company is not in difficulty and has no enforcement proceedings under way;
• the company has no outstanding recovery decision for state aid;
• in the 2 years before the application, the company has not carried out a relocation;
• newly established companies have a subscribed share capital of at least 100,000 lei, and their shareholders have not held control (over 50%) of another company in the same sector in the last 2 years;
• active companies have positive profitability and positive equity.

Which costs are eligible and how is the aid granted?

The costs of the initial investment in tangible and intangible assets, excluding VAT, are eligible, with two limits: buildings may account for no more than 40% of total eligible costs, and intangible assets for no more than 30%. The beneficiary must cover at least 25% of the costs from its own resources or from external financing that contains no public aid.

The company chooses one of the two forms of aid:

• grant, i.e. non-refundable sums from the state budget;
• tax credit, granted over 7 years after the investment is completed, which can be extended by 2 years if the company records losses.

The chosen form of aid cannot be changed once the funding agreement has been issued. Agreements are issued during 2026–2032, and payments are made during 2027–2036.

How and by when do you apply?

Applications for a funding agreement and the supporting documents are submitted exclusively online, between 15 October and 25 November 2026, 17:00. Submission is made through the Big Project 486 application, available on the Ministry of Finance website for the duration of the call window. Applications sent after the deadline are not considered.

The decision provides that projects are ranked by a score (Annex 5). The Ministry publishes the list in order of score within 5 working days of the close of the call window. A compliance and viability review follows, for which the HG sets a deadline of 60 working days.

What obligations does the beneficiary have after approval?

• begin works worth at least 3% of the investment value within 6 months of the funding agreement being issued;
• maintain the investment for at least 5 years after completion;
• submit audited reports certifying compliance with the conditions.

An important rule is the incentive effect. The aid is granted only if the company sends the written state aid request to the Ministry of Finance before works begin. An investment that has already started can no longer be funded.

What this means for your business

Our recommendation: if you are planning an industrial investment of over 50 million lei, start preparing now. Less than two months remain until the deadline, and a file of this size requires a business plan, a viability analysis, technical documentation and proof of the sources for the own contribution of at least 25%.

• Check the CAEN code first. The investment must target a code in Annex 1. The project can fall under no more than two sectors.
• Do not start works. No firm order and no construction site before the application is submitted, otherwise you lose the incentive effect.
• Choose carefully between a grant and a tax credit. The tax credit is only worth something if the company will have tax to pay in the years after the investment. The grant is more predictable, but the choice cannot be changed later.
• Watch the ceilings. Projects with a lot of construction or many licences and software may exceed the limits of 40% and 30% respectively.
• Plan the financing. In addition to the 25% contribution, the financing of the investment must be secured until the aid is received.

The scheme suits producers who want to build or expand production capacity for heavily imported products. If you are not sure the company meets the conditions, start with the eligibility check. You can also find details about the programme on the page for the scheme for products with a trade deficit.

Frequently asked questions

What is the minimum investment for the HG 486/2026 scheme?

The project's eligible costs must be at least 50 million lei, i.e. approximately 10 million euro, excluding VAT, for the initial investment in tangible and intangible assets.

Can newly established companies apply?

Yes. Newly established companies can apply if they have a subscribed share capital of at least 100,000 lei and if their shareholders have not controlled more than 50% of another company in the same sector in the last 2 years.

Can I change the form of aid after approval?

No. The company chooses between a grant and a tax credit at submission, and the chosen form cannot be changed once the funding agreement has been issued.

What is the deadline for applications in the first call window?

Applications are submitted online, through the Big Project 486 application, between 15 October and 25 November 2026, 17:00. Applications sent after this deadline are not reviewed.

Will there be other call windows?

The HG allows funding agreements to be issued until 2032, and call windows are announced at least 20 working days in advance. The dates of subsequent call windows have not yet been announced.

Official sources

• Government Decision No 486/2026 – Legislative Portal
• Ministry of Finance – announcement of the first funding call window, 15 October 2026
• Ministry of Finance – HG 486/2026 page (applicant's guide and user guide)

Information checked on 26 September 2026. Conditions may be amended by the managing authority — check the guide in force before submitting.