The Cabinet Committee on Economic Policy in Finland has approved the ministry of trade and industry’s proposal to begin preparation for implementing innovation subsidies to the shipbuilding industry. First, however, this question must be discussed by the Cabinet and the Finnish parliament. These subsidies would amount to EUR 10–15 million per year.
The EU permits innovation subsidies to be granted to the shipbuilding industry so that it can meet the tough competition from Asia. Such subsidies may amount to a maximum of 20 per cent of the costs involved in developing prototypes of vessels. Innovation subsidies are already being granted to the shipbuilding industries in e.g. Germany, France, Italy, Spain and the Netherlands.
The EU permits innovation subsidies to be granted to the shipbuilding industry so that it can meet the tough competition from Asia. Such subsidies may amount to a maximum of 20 per cent of the costs involved in developing prototypes of vessels. Innovation subsidies are already being granted to the shipbuilding industries in e.g. Germany, France, Italy, Spain and the Netherlands.