The European Commission has recently approved an amendment to Belgium’s map for granting regional aid until 31 December 2027, within the framework of the regional aid guidelines.
The amendment, approved on 18 July 2022, adds the entire Hainaut Province to the list of areas eligible for regional investment aid under the derogation of Article 107(3), point (a), of the Treaty on the Functioning of the European Union. This decision comes as the gross domestic product per capita of Hainaut Province has fallen below 75% of the EU average, making it among the most disadvantaged regions in the EU.
Under the amended map, large enterprises in Hainaut Province can receive up to 30% of the eligible investment costs as aid. This amount can be increased to 40% for investments made by medium-sized enterprises, and up to 50% for investments made by small enterprises, for their initial investments with eligible costs up to €50 million.
The new map will be in force from 1 January 2024 until 31 December 2027. It’s important to note that the non-confidential version of the decision will be available under the case number SA.110069 in the state aid register on the Commission’s competition website once any confidentiality issues have been resolved.
This amendment is a significant step towards providing support and opportunities for investment in the Hainaut Province, ultimately contributing to the economic development and growth of the region.
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