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To promote business development and provide broader opportunities to attract funding from capital markets, the government, on the initiative of the Ministry of Economics, has approved amendments to Cabinet of Ministers (CM) regulations.
The changes were made to the CM Regulations No. 597 of October 17, 2023, “Implementation rules for measure 1.2.1.3 ‘Support for Company Participation in Capital Markets’ under Specific Support Objective 1.2.1 ‘Strengthening Research and Innovation Capacity and Introducing Advanced Technologies in Companies’ of the EU Cohesion Policy Programme 2021–2027.” With these amendments, support will now also be available to businesses engaged in the primary production of agricultural, fishery, and aquaculture products.
Previously, these sectors were excluded from the support program. However, considering the strong interest from businesses in these fields and the need for greater growth opportunities, the regulations have been supplemented with provisions from Commission Regulation No. 1408/2013 on de minimis aid in the agricultural sector, and Commission Regulation No. 717/2014 on de minimis aid in the fisheries and aquaculture sectors.
The support program is designed to foster business development by enabling companies to attract necessary funding through capital markets, increase international competitiveness, and promote investment in viable and innovative enterprises, allowing them to grow and develop more rapidly. Within the program, support is provided for listing shares or debt securities on a regulated market, as well as for activities related to that process. The support covers a variety of related costs, such as consultancy fees, preparation and approval of issuance documents, in-depth company due diligence, and assistance from certified advisors of the trading venue.
“Until now, fishing and agricultural companies were excluded from this support program, but their active interest and the need to broaden funding opportunities prompted a review of the regulations. These companies will now be able to fully participate in capital markets and use new growth instruments. Our goal is to strengthen business competitiveness and foster sustainable growth across all sectors of the economy,” emphasized Ilze Lore, Director of the Business Support Department at the Ministry of Economics.
To improve business access to capital markets, several activities can be implemented within the support program, ultimately leading to the successful listing of shares or debt securities. These actions must be completed by December 31, 2029.
Companies will be required to receive aid under only one de minimis regulation and must avoid any double funding.
The amendments will come into force after their official publication and will provide additional opportunities for businesses that previously considered capital market instruments too complex or inaccessible.
Project applications may be submitted until December 31, 2026.