Romanian young graduates from foreign universities will be able to benefit from grants of up to 100,000 euros if they open a company in their home country.
The proposal is part of a legislative initiative submitted to Parliament by the liberals Nicolae Ciucă and Gabriel Andronache.
The program is called "Investing in Romanian Students from the Diaspora - STUD-IN-VEST."
Romanian youth under 35 years old, who have graduated from top universities abroad, will receive funding from the state (as well as from EU funds).
There are actually three subprograms:
a) "STUD-VEST," which aims at financing a new company and developing its activities in the field in which the beneficiaries have completed their university studies, by annually granting 2,024 grants worth 500,000 lei/grant;
b) "STUD-ACOMOD," which aims at establishing a new company and developing its activities by granting 2,024 accommodation grants worth 10,000 lei monthly/grant, for accommodation and integration in any of the business, industrial, innovative, and technological parks, including business incubators in Romania. This money is exclusively for rent and/or utilities of the company for 3 years;
c) "STUD-ERA," which aims at integrating the beneficiaries into state educational units at the primary, secondary, and university levels in Romania, with the best results in the last 3 years, by granting 2,024 repatriation grants worth 15,000 lei monthly/grant, for a period of 5 years.
The program's funding is provided through the budget of the Ministry of Economy and, respectively, through the budget of the Ministry of Education.
The necessary amounts will be annually ensured, with priority, from non-repayable external funds and from the state budget.
The funders draft the applicant's guide and organize the beneficiary selection procedures, conclude the non-repayable funding contract, and monitor compliance with the contractual obligations.
Beneficiaries and Budgetary Impact
The beneficiaries are Romanian citizens, residing in Romania, aged up to 35 years at the time of application, with a degree from a top accredited foreign university in a bachelor's, master's, doctoral, or post-doctoral program.
Annually over 4,000 Romanian students decide to attend courses at a foreign university (bachelor's, master's, doctoral, or post-doctoral), with the most frequently chosen universities being from the United Kingdom, the Netherlands, Italy, Germany, France, or the United States of America.
"Unfortunately, an increasing proportion of Romanian students who graduate from foreign universities do not return to Romania, generating one of the most significant national losses - highly skilled, well-trained young people.
This situation has a negative impact on Romania's demographic trends, contributing to the aging of the population.
This phenomenon is also influenced by the favorable climate in host countries, which, through public-private partnerships, various types of financing, or facilities, provide young graduates, including those from Romania, with well-paid and secure job opportunities, with the prospect of immediate integration into the labor market, or financial opportunities to implement start-ups based on innovation and technological progress," the project initiators further state.
The legislative act "remedies serious disruptions in the Romanian economy and society due to the 'brain-drain' phenomenon," the initiators further argue.
The annual gross budgetary impact amounts to 1,607,212,000 lei, equivalent to 323,382,699 euros.
The net budgetary impact is much lower at the end of each year, representing a maximum of 60% compared to the gross budgetary impact, the initiators mention, indicating that part of the amounts granted through this program will almost immediately become revenues for the state budget through taxes, contributions related to payroll expenses, taxes, and fees on goods and services.
The project will first be debated in the Senate and then in the Chamber of Deputies, which is the decision-making body.