In addition to that amount, an incentive of another 16 million euros was also allocated for the construction of a hotel in the city itself Exspo complex in Surčin, writes Forbes Serbia. Minister of Finance Sinish Mali announced in October 2023 that the state will subsidize 20 percent of the investment value in 3, 4 or 5 star hotels.
"We want to stimulate the construction of new hotel capacities, we will need thousands of new beds and rooms in Belgrade and Serbia in order to meet the needs of the EXPO," Mali said.
Then, in November of the same year, the Government of Serbia adopted amendments to the Regulation on determining the criteria for awarding incentives to attract direct investment in the hotel accommodation services sector.
That decree defined the criteria, conditions and method of attracting direct investments in the sector of hotel accommodation services in spa and climate towns, and in the Belgrade region.
Who can get the money?
According to one of the provisions of the regulation, the right to participate in the procedure for the allocation of funds for the implementation of the EXPO exhibition was granted to investors who apply for the allocation of funds before the start of the implementation of the investment project - and no later than December 31, 2024.
The Ministry of Economy has so far announced eight contracts awarded under this regulation.
All firms were granted incentives in the amount of 20 percent of the value of their justified investment costs.
Payment of subsidies to companies takes place in several parts, i.e. tranches. Each tranche is paid upon submission of proof by the company of the investment made in a certain amount.
Source: Danas.rs
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