State aid: Commission approves €140 million Portuguese scheme to support investment in research, development, testing and production of coronavirus relevant products

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Source: European Commission Spokesperson’s Service

The European Commission has approved a €140 million Portuguese aid scheme to support investment in research and development (R&D), testing and production of products that are relevant to the
coronavirus outbreak, including vaccines, ventilators and personal protective equipment. The scheme was approved under the State aid Temporary
Framework adopted by the Commission on 19 March. The public support will take the form of direct grants. The scheme is open to all enterprises capable to carry out such activities in all
sectors. The aim of the scheme is to enhance and accelerate both the development and the production of products directly relevant to the coronavirus outbreak. The Commission found that the scheme
is in line with the conditions set out in the Temporary Framework. The Commission therefore concluded that the aid scheme will contribute to the achievement of a common objective of crucial
importance, is necessary, appropriate and proportionate to fight the health crisis, in line with Article 107(3)(c) TFEU and the conditions set out in the Temporary Framework. On this basis, the
Commission approved the measure under EU State aid rules. Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “Speeding up the development and
production of products relevant to tackle the coronavirus outbreak, such as medicines, vaccines, ventilators and protective clothing, is of utmost importance to address the current health
crisis. This €140 million Portuguese scheme will support investments in research and development activities needed for the production of these crucial products. We continue to
work closely with all Member States to find solutions to fight the pandemic, in line with EU rules.” The full press release is available online.

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In the second quarter of 2024the seasonally and calendar adjusted, chained volume measure of Gross Domestic Product (GDP) increased by 0.2per cent with respect to the previous quarter and by 0.9per cent over the same quarter of previous year. The second quarter of 2024 has had two days lesswith respect to the previous quarter and […]

State aid: Commission approves €140 million Portuguese scheme to support investment in research, development, testing and production of coronavirus relevant products

Daily News 20 / 04 / 2020

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