Monday, June 29, 2015

COMMISSION PUTS FORWARD RECORD €13.1 BILLION INVESTMENT IN TRANSPORT INFRASTRUCTURE TO BOOST JOBS AND GROWTH


Today the Commission is further delivering on its top priority of creating jobs and boosting growth in Europe, by unveiling a record €13.1 billion investment plan in 276 transport projects, selected under the Connecting Europe Facility (CEF). This investment will unlock additional public and private co-financing for a combined amount of €28.8 billion. Along with the future European Fund for Strategic Investments (EFSI), the CEF will play a major role in bridging the investment gap in Europe, which is one of the Commission's top priorities. Beyond transport, it will benefit the European economy as a whole by creating more favourable conditions for growth and jobs.
EU Commissioner for Transport Violeta Bulc said, "Today, I am very pleased to propose the largest investment plan ever made by the EU in the transport area. The projects we selected will serve citizens and businesses alike, by upgrading infrastructure and removing existing bottlenecks. They will also promote sustainable and innovative mobility solutions. This unprecedented investment represents a major contribution to the Commission’s agenda of growth and job creations. Implementing the trans-European transport network could create up to 10 million jobs and increase Europe’s GDP by 1.8% by 2030”.
Selected projects are primarily located in the core trans-European transport network. Among the beneficiaries are flagship initiatives such as Rail Baltica, the Brenner Base Tunnel, the Seine-Escaut waterway, the Caland Bridge and the Fehmarn Belt Fixed Link. Smaller-scale initiatives include cross-border projects between Groningen and Bremen, the Iron Rhine rail line, LNG (Liquefied Natural Gas) deployment plans or projects enhancing the navigability of the Danube River.
Launched in September 2014, the CEF calls for proposals generated an unprecedented interest. The Commission received 700 applications totalling €36 billion of requested funding, three times more than the available envelope. This allowed the Commission to select the projects with the highest European added value, while guaranteeing a balanced distribution geographically and between the transport modes. In particular, nearly €4.8 billion have been earmarked for Member States eligible for Cohesion Funds. Contribution to other Commission priority actions, such as the Energy Union or the Digital Single Market, was also evaluated during the selection process.
The EU's financial contribution is made in the form of grants, the co-financing rate of which is between 20% and 85% of a given project, depending on its type.

Next steps
The proposed funding decision must now be formally adopted by the Connecting Europe Facility Committee, which will meet on 10 July 2015. The individual grant agreements will then be prepared by the Innovation and Networks Executive Agency (INEA) and signed with the project beneficiaries in the second half of 2015.

Background
Under the Connecting Europe Facility (CEF), €24.05 billion will be made available from the EU’s 2014-2020 budget to co-fund TEN-T projects in the EU Member States. Of this amount, €11.305 billion will be available only for projects in Member States eligible for the Cohesion Fund. Annual and multi-annual work programmes specify the set of priorities and the total amount of financial support to be committed for each of these priorities in a given year. 2014 has been the first programming year under the CEF.

 Citation from European Projects : http://goo.gl/CZ3wxz



SMART AIMS TO BRING YOUR ENTREPRENEURSHIP TO SINGAPORE

Singapore is a modern, high-tech and business-geared society that offers incredible motivations for entrepreneurship. Singapore can be called a business nation. The contribution this country has done to the world’s economic growth is tremendous. The survey states that Singapore is the world’s easiest place to do business. That’s why it is called: THE WORLDS HOT PLACE TO DO BUSINESS
The support from the govt. of the country is unexplainable. They are always very welcoming to the new ventures and are one of the politically stable countries. They support business in all stages of development especially during the crisis management. Everything the country work is for the tremendous business results.
Factors that turn Singapore into an Asian magnet to attract most perspective entrepreneurial ideas:
  • ·         Singapore is praised for the world’s second best insolvency solutions
  • ·         Influential venture profile
  • ·         Network enthusiasm
  • ·         One of the most relaxed tax system
  • ·         Easy outlines of setting up a business         
  • ·         Open-armed attitude to immigrants
  • ·         Educated manpower and
  • ·         Tension-free multinational atmosphere

The most striking fact about Singapore is that you can set up a company there in two working days. It may sound unbelievable if compared with the practice of Western countries. It’s a place with just smart and easy regulations. The location also plays a wining/important part for the entrepreneurs. There are more than 50 flights running daily which helps international trading and access a huge Asian market of almost 3 billion people. They are one of the busiest high end sea ports which link over 600 ports all over the world which makes the import and export easy within the country.
World Economic Forum and the Institute for Management Development acclaim Singapore has worlds most skilled, educated and motivated labor force. Brains and hands are keys to success of any business and Singapore takes the lead by setting high educational and work standards. The Singaporeans are known as hard working, well-grounded in high-end technologies and increasingly English-speaking.


According to survey conducted by Forbes: over five decades Singapore is the world’s seventh largest GDP per capita and more than one in six households have $1 million in cash savings. The government has initiated a number of projects which could help Entrepreneurs to bring out the best in them. Enterprise development is on the top of the government’s program. Some of the schemes are mentioned here:
  • ·         Government-aided equity financing schemes

o    Spring SEEDS, BAS, EVFS, etc.
  • ·         Cash grants

o    ACE, Tech Start-Ups, i-Start ACE, i-SPRINT, etc.
  • ·         Business incubator schemes

o    NRF Technology Incubation Scheme, IDEAS, Fast-Tech, etc.
  • ·         Debt financing schemes

o    LIS, LEFS etc.
  • ·         Tax incentive schemes

o    DEI, PIC, etc.



The Singapore government has taken understanding of the key role played by new businesses in encouraging economic growth and has consequently spent considerable amount of money, time and effort in formulating a support ecosystem for start-ups in Singapore.
Reference : Forbes - http://goo.gl/0o6buX
    Hawksford - http://goo.gl/hSfJxL