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PACEID Breaking Down Trade Barriers to Accelerate Exports

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PACEID Breaking Down Trade Barriers to Accelerate Exports

PACEID Breaking Down Trade Barriers to Accelerate Exports

World Business Journal talks to Odrek Rwabwogo, Chairperson of the Presidential Advisory Committee on Exports and Industrial Development (PACEID), about the mission to expand trade partnerships and exports for 13 key products, ultimately aiming to generate one million jobs in the sector and solidify Uganda’s position as a reliable global exporter.

What impact has PACEID had on Uganda’s export growth and trade partnerships?

In 2022, we embarked on our mission with a clear objective: How can we create a million jobs? Achieving this would allow us to absorb two to three years’ worth of graduates across the country. A million jobs in manufacturing and services necessitate an increase in exports, leveraging Uganda’s strengths.

By concentrating on 13 Agri-value products and minerals, we have strengthened the country’s export potential and highlighted what stands in the way of growth, along with providing solutions to exporting firms.

We have addressed infrastructure and funding gaps, enhanced standards, and lowered transaction costs to boost the competitiveness of our exports. Our collaboration with export firms—now totalling over 62 in our database—has resulted in $460 million in export growth orders since 2023.

We’ve also fortified international trade partnerships with trade representatives now active in 6 of the 10 countries we initially targeted. These include the USA, UK, Nigeria, DRC, South Africa and China. This expanded presence enhances market access and positions Uganda as a strategic sourcing hub.

Our goal is to establish 25 international trade hubs by 2035, solidifying our position as a reliable global exporter. We will replicate this internally for our people to consume what they produce.

How are Ugandan products perceived internationally, and what strategies are being implemented to ensure they meet global quality standards?

Our products, especially fruits and vegetables, are appreciated for their unique taste by those familiar with them. However, there is a lack of awareness and outdated perceptions globally, exacerbated by inconsistent supply due to production and transport challenges.

To improve visibility and perception, the Uganda Connect Hub in Serbia was established, leveraging Serbia’s strategic location and cultural ties with the Balkans region. This initiative, drawing on historic agreements since September 1963, focuses on products like fish, cassava and coffee. In July, we opened our third trade location in Jajecar, Serbia, and reviewed the agreement signed in June 2024.

We will construct industrial and aggregation hubs aimed at standardising processing to ensure export reliability. Initiatives like the Uganda TradeXchange platform connect buyers and sellers while integrating regulatory export documents, improving supply chain reliability, transaction tracking, and data-driven decision-making.

The formation of a unified Food and Agricultural Regulatory Authority (FARA) is in progress, aiming to consolidate food safety efforts, standardise procedures, and ensure compliance with international standards. The draft law establishing this authority is pending Cabinet and Parliament review, which is crucial for enhancing global competitiveness.

How is Uganda leveraging the African Continental Free Trade Area (AfCFTA)?

We are collaborating with the Ministry of Trade, Industry, and Cooperatives to establish a national AfCFTA committee this year. A trade representative is assessing market opportunities in Nigeria, the DRC, and Morocco, with plans for a guided trade initiative in Nigeria that could expand to other African markets.

Over the past 3 years, we have worked towards Uganda’s accession to the Afrexim Bank’s Fund for Exports Development in Africa (FEDA). This was successfully signed in March 2025, and we are now operating under protocols to raise more funding and secure export financing.

To streamline payments, Uganda plans to adopt the Pan-African Payment and Settlement System (PAPSS). The National Standing Committee will spearhead these initiatives.

Currently, over 45% of the country’s value-added exports go to Africa, highlighting the critical role of AFCFTA in our trade strategy.

Interest in Golden Visa Programs Increases for Greece, New Zealand, and Portugal

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Interest in Golden Visa Programs Increases for Greece, New Zealand, and Portugal

Interest in Golden Visa Programs Increases for Greece, New Zealand, and Portugal

The Golden Visa program, which was introduced by several countries in the last two decades, has attracted a lot of attention in the last few years. The Golden Visa represents a long-term residency document that has the goal of attracting wealthy expats to invest.

With the world dealing with a wide range of political and economic uncertainties, more countries are trying to attract high-net-worth individuals. Therefore, they are changing their Golden Visa programs to accommodate people who are looking for a better place that offers them new opportunities.

Three of the countries that have a significant amount of interest in this scheme are New Zealand, Portugal, and Greece. But why are we seeing this sudden rise in popularity for Golden Visas?

What Does the Golden Visa Program Involve?

Golden Visas are long-term residency documents that give foreign expats a residence permit or citizenship so they can start investing huge sums of money in a country’s economy. This could come in different forms, such as donations, job creation, business development, or real estate investment.

By investing significant amounts of money, investors receive residency or even citizenship.

The reason why so many wealthy individuals seize this opportunity is simple: obtaining residency in one of these countries will bring tax benefits, better education, superior healthcare, and other advantages. The offer is especially convenient for people who come from countries that deal with political instability or economic uncertainties.

Now that the world is dealing with such instability, Golden Visas are getting more and more attention. Portugal, Greece, and New Zealand are only some of the countries that are working on improving their Golden Visa programs to better suit those interested.

Recent Golden Visa Developments

In many countries, the Golden Visa program has ended. For instance, Malta’s Golden Visa program was criticized by the EU recently after it was discovered to be selling citizenship instead of offering residency. Following this issue, Malta had to reconsider its scheme.

However, other countries still have excellent Golden Visa programs, and some even adjusted theirs recently.

For example, Greece requires a €250,000 real estate investment for the Golden Visa benefits. Recently, the government has increased the necessary investment in some locations, though.

Portugal remains one of the top destinations for Golden Visa applicants. Some time ago, the country made some adjustments regarding property investment restrictions in certain areas to prevent housing price inflation.

New Zealand has also revised its Golden Visa program, which is known as the “Active Investor Plus Visa”. The country added two categories, respectively, Growth and Balanced. For the Growth category, investors must spend $3 million, and the total residency requirement has been reduced to 21 days. Also, applicants no longer need to have English language proficiency.

Hope and Skepticism

It seems that developments are being made all across the world when it comes to Golden Visas. Still, while New Zealand offers more benefits to attract more wealthy individuals, Australia is one of the countries that maintain some scepticism.

Others, like Malta, had to revise their programs recently. It’s very likely to see some more changes in how countries attract global wealth in the next few years.

A Record High for Foreign Investments in Africa Was Reached in 2024

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A Record High for Foreign Investments in Africa Was Reached in 2024

A Record High for Foreign Investments in Africa Was Reached in 2024

In 2024, foreign direct investment in Africa grew significantly, reaching a record $97 billion. Compared to the previous year, this is an increase of 75%.

According to the United Nations Trade and Development (UNCTAD) World Investment Report 2025, North Africa is at the forefront of this foreign investment rise. This represents 6% of the global FDI, which is an increase of 2% from the year before.

Which Countries Led the Increase?

The confidence in North African markets enjoyed a substantial increase, even in the face of economic uncertainty. The countries that led this regional growth are Tunisia, Morocco, and Egypt. The former drew $936 million, which was a 21% increase from 2023. Morocco managed to draw as much as $1.6 billion in FDI in 2024. This represents a 55% increase from 2023.

However, Egypt did even better than its fellow countries. An international project finance deal for the country’s urban development pushed this record even higher.

But even before the deal, the African continent experienced a 12% annual growth. This is a sign that the investors’ interest is growing.

Foreign Investment in Africa and Rising Sectors

In various African subregions, foreign investment saw a massive boost in 2024. However, North Africa was in the lead.

International project finance deals saw a value increase of 15%. This was driven by big transport and energy infrastructure projects. IPF commitments increased by more than twice the size.

Meanwhile, project numbers decreased by 3%. The only area that showed significant growth was the renewable energy field. It landed seven big deals with a value of about $17 billion. This also included Egyptian projects for wind and solar plants, as well as power cables.

Tunisia, Namibia, and Morocco also had several renewable energy projects.

Cross-border mergers and acquisitions turned negative. Previously, they made up for around 15% of Africa’s FDI.

Greenfield investments also experienced a decline in Africa. Compared to $178 billion in 2023, the value went down by 37%, sitting at $113 billion. The announcements also decreased by 5%.

Except for North Africa, where greenfield investments grew by 12% and reached $76 billion, most countries had fewer greenfield initiatives. The largest increases in this sector were in the metal products and construction areas. On the other hand, gas and electricity supply projects decreased in value by $51 billion.

Biggest Investors in Africa

When it comes to foreign investors, China is still a big economic force in Africa. It has $42 billion in investment stock. Furthermore, it decided to expand into non-traditional fields, such as food processing and pharmaceuticals. However, in terms of the overall share of FDI, European investors are in the lead.

Moving forward, North Africa, with Morocco at the forefront, wants to play a bigger part in defining the sustainable investment future of the continent. That will be interesting to see, considering how significant its contributions were in the expansion of the renewable and digital sectors lately. If things keep improving, the African continent is looking at a bright future.

Donald Trump Approves the $14.9 Billion Purchase of U.S. Steel by Nippon Steel

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Donald Trump Approves the $14.9 Billion Purchase of U.S. Steel by Nippon Steel

Donald Trump Approves the $14.9 Billion Purchase of U.S. Steel by Nippon Steel

After U.S. Steel and Nippon Steel signed a national security agreement with the U.S. Government, President Donald Trump issued an executive order approving the merger of the two companies. According to them, this agreement will give the U.S. Government a “golden share”, but we don’t know how much of it will be under its control.

This historic partnership comes with a commitment to invest $11 billion by 2028. The approval comes after months of obstacles.

The Agreement

On June 13, President Donald Trump issued an executive order. It approved the merger of U.S. Steel with Japan’s Nippon Steel. The deal was finally approved after 17 months of twists and after Joe Biden previously blocked this initiative. Now, Trump has agreed to let the largest steelmaker in Japan buy its U.S. rival.

According to the national security agreement, Nippon Steel must make $11 billion worth of investments by 2028. This also includes initial spending on a greenfield project that must be done later.

“All necessary regulatory approvals for the partnership have now been received, and the partnership is expected to be finalized promptly,” said U.S. Steel and Nippon Steel in a statement.

Although the president did not offer details about the control he has under the golden share, Pennsylvania Sen. Dave McCormick mentioned that this share will let the U.S. Government control several board seats.

Donald Trump Changed His Mind

The new deal might’ve come as a surprise to some people as Donald Trump was not a fan of the sale of U.S. Steel to Nippon during the 2024 election. Both Republicans and Democrats were trying to protect U.S. firms from foreign competitors.

After assuming office, the president ordered a new review of the deal. Previously, Joe Biden had blocked the sale in his last days in office. His reasons included security concerns.

When President Donald Trump approved the deal, he didn’t call it a merger or acquisition, but rather a “partnership”. Despite Nippon Steel buying U.S. Steel, Trump said that the United States will still control U.S. Steel when he delivered a speech to the workers of one of the company’s plants.

According to U.S. Steel, it would only become a “wholly owned subsidiary” of Nippon North America. However, investors were very confused when Trump used the word “partnership” to refer to the deal.

Trade Talks with Japan

The Trump administration is doing trade talks with Japan. In the meantime, investors are waiting for signs that the U.S. will start deals with many partners to avoid massive tariffs, which have been a concern for many. Donald Trump announced that tariffs on steel imports would double to 50% when he was talking to the U.S. steelworkers. The tariffs were applied starting on June 4.

Donald Trump mentioned that the new deal will not lead to layoffs or outsourcing. Instead, workers will get a bonus of $5,000. He also agreed to keep the blast furnaces of U.S. Steel working at full capacity for a 10-year minimum period.

URSB Streamlines Business Registration Process

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URSB Streamlines Business Registration Process

URSB Streamlines Business Registration Process

World Business Journal talks to Mercy K. Kainobwisho, the Registrar General of URSB, about how digitization has reduced the time taken for business registration from 14 days to just 4 to 6 hours, along with measures aimed at safeguarding intellectual property rights and strengthening the country’s innovation ecosystem.

What is the process for registering a business in Uganda?

Five years ago, registering a business required around 14 working days or more. Through our digitisation and automation reforms, this process can now be completed in just 2 hours for legal document registrations and 4 to 6 hours for new registrations.

To register a business, you need to create an account, check name availability, and reserve your name. After that, submit the required documents and payments electronically, including forms for appointing a director and a secretary. Once submitted, you will receive a registration certificate and a tracking number to monitor your progress.

Plans are underway to launch an app and allow business registration through banks and local governments, simplifying the process even more.

What common misconceptions do local and foreign investors have about the business registration process?

Misconceptions prevent many local enterprises from registering. To tackle this, we established one-stop centres across the country in partnership with the Kampala Capital City Authority, the Ministry of Local Government, and URA. These centres play a crucial role in educating businesses about the numerous benefits of formal registration and the significant impact it can have on their growth.

Foreign investors often mistakenly believe that a local partner is necessary for registration, when in fact, anyone can register a company independently.

What is the current state of IP registration, and how are you raising awareness among innovators?

We have been a member of WIPO since 1973 and ARIPO since 1978, actively participating in treaties to protect intellectual property at various levels. We operate 37 IP technology innovation support centres nationwide and initiatives like “UGYouth4IP,” educate secondary school students on intellectual property, helping them safeguard their creative works and enhance the innovation ecosystem.

The Copyright and Neighbouring Rights (Amendment) Act, 2025 aims to update intellectual property laws to bolster protections for creators and innovators in the digital landscape.

NDPIV seeks to advance a knowledge-based economy by promoting and strengthening intellectual property (IP) growth, which is essential for fostering innovation, protecting creators’ rights, and driving socio-economic advancement.

By implementing robust IP policies and ensuring enforcement mechanisms, the plan seeks to stimulate research and development, attract foreign investment, and encourage the commercialisation of new technologies. This approach will not only support creators and inventors but also play a pivotal role in elevating national competitiveness in the global market.

China Will Remove All Tariffs on African Exports

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China Will Remove All Tariffs on African Exports

China Will Remove All Tariffs on African Exports

Following the China-Africa co-operation meeting, a new move was announced. China is Africa’s largest trading partner, and it has declared that it will remove the tariffs it charges on imports from 53 African countries.

This decision will benefit middle-income nations. Moreover, it will boost trade after several years of partnership between the two regions. Many of the African countries that will gain from this decision will be able to enter the Chinese market duty-free.

What Does the New Decision Involve?

China is Africa’s largest trading partner, and this has been the case for the last 15 years. Africa has been exporting goods to China worth about $170 billion back in 2023. Now, China has decided to drop the tariffs on 53 out of the 54 African nations, countries it has diplomatic relations with. The only exclusion is Eswatini, a nation that has not established any diplomatic relations with the Asian country.

There’s no implementation date confirmed, but the meeting confirmed the new move. This comes in the face of “global uncertainty”, which may be a reference to the United States possibly increasing tariffs on Chinese products.

A joint ministerial statement criticized “certain countries” trying to disrupt the current international economic and trade order. Then, it called on the United States to rely on “equality, respect, and mutual benefit” to resolve trade disputes.

“Faced with an international situation marked by changes and turmoil, China and Africa should uphold solidarity and self-reliance more than ever,” said Foreign Minister Wang Yi.

Decreasing China’s Trade Excess

One thing that China wants to do is offer various African powers, such as South Africa, Egypt, Morocco, and Nigeria, a much greater market access. This will help them increase their export capacity.

Moreover, the Asian country hopes this new project will reduce its structural trade surplus with Africa. At the moment, it’s $62 billion.

China also decided to support LDCs like Mali or Tanzania as businesses there face challenges against more developed countries. The Asian nation will offer training and marketing promotion. Beijing’s move will also have an effect on relatively advanced nations that could take advantage of the Chinese market.

“It enables middle-income countries like Kenya, South Africa, Nigeria, Egypt, and Morocco… to be able to now enter the Chinese market duty-free,” said Development Reimagined founder Hannah Ryder.

The Industries Included in China’s Plan

Although these tariff changes are expected to influence many sectors, it’s unclear which areas will be affected. The majority of African exports to China include raw materials, oil, and ores.

Many people are wondering if China will apply its policy to car exports from South Africa as well, and whether they have enough demand in the Asian country’s market.

Some individuals also worry that this policy might keep African countries limited to their status as raw material producers without helping them advance up the value chain. For now, the African nations are waiting to see the results of the tariff drop and how it will impact their economy.

‘Crypto Card’ Initiative Was Revealed by the National Bank of Kazakhstan

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‘Crypto Card’ Initiative Was Revealed by the National Bank of Kazakhstan

‘Crypto Card’ Initiative Was Revealed by the National Bank of Kazakhstan

The National Bank of Kazakhstan revealed that it will implement crypto cards soon as one of its digital assets’ integration projects.

This retail payments initiative is only one of the projects meant to boost regulated digital finance in the country. The implementation was discussed in a meeting between representatives of banks, crypto exchanges, and fintech companies.

This initiative would allow payment card users to make non-cash transactions connected to wallets in digital asset service licensed providers. The plan came as one of the many projects meant to grow regulated digital finance.

The New Crypto Card Initiative

On June 2, 2025, the National Bank of Kazakhstan had a meeting with representatives of fintech organizations, crypto exchanges, and banks. They discussed implementing different projects to establish innovative financial services that focused on digital asset tokenization. The “crypto cards” project implementation was launched during the meeting.

This is only one of the multiple projects planned by the landlocked country with a population of around 20 million people.

The cryptocurrency card initiative allows consumers to link a licensed crypto wallet to a traditional payment card. Then, they can start making retail payments in cryptocurrencies. Meanwhile, merchants will receive their payments in the country’s fiat currency, respectively the tenge.

According to a statement from the National Bank of Kazakhstan, this project will offer the possibility to integrate digital asset turnover into the existing payment structure in a safe way.

The NBK’s official press release mentioned that the mechanism that backs up crypto cards involves the user’s digital asset real-time sale on the AIFC cryptocurrency market when the transaction starts. Immediately, the equivalent fiat value is credited to the card.

Regulatory Sandbox Experimentation

In a LinkedIn post, National Bank of Kazakhstan chief digital officer Binur Zhalenov spoke about the new crypto card initiative.

“Merchants receive tenge, while users get a seamless payment experience with digital assets — no new infrastructure required,” he said.

According to Zhalenov, the planned tenge-backed stablecoin pilots and other plans will be run through the regulatory sandbox of the bank, which is a test space. He also mentioned the “scalable fiat-crypto gateways across the country” and the “web3 infrastructure and DAO experiments”.

“These initiatives reflect our ambition to create a safe, inclusive, and forward-looking digital finance ecosystem, aligned with the best international practices and tailored to Kazakhstan’s needs,” Zhalenov also said.

Other Pilot Projects on Digital Assets

Crypto cards are not the only initiative in the financial sector. Market participants also have other pilot projects planned under the National Bank’s coordination. Some of these include:

  • Financial and real-estate tokenization
  • Organization of services for crypto asset exchange transactions and storage of cryptocurrency assets
  • Stablecoins issue secured by the national currency for digital asset settlement transactions
  • Organizing accounting systems as well as digital financial assets collateral storage

The new crypto card initiative will change the landscape for both consumers and businesses. Once available, it will revolutionize the financial sector of the country.

Türkiye Offers New Incentives for Regional Industry Development

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Türkiye Offers New Incentives for Regional Industry Development

Türkiye Offers New Incentives for Regional Industry Development

Türkiye works hard to develop its regional industry. Not long ago, the country came out with an investment plan to promote industrial growth. This new incentive scheme would take the production capacity away from Istanbul, which is the main economic center of Türkiye, and use it in less developed areas.

The new initiative was built on three core foundations: Türkiye’s Sectoral Incentive System, Century Development Move, and Regional Incentives.

Investors can receive millions in Turkish liras, getting the support they need.

What Is the Purpose of the New Decision?

The new investment incentive system will prioritize high-value-added tech investments, as well as employment in each region. The southeastern and eastern regions might benefit the most from these new plans. The scheme was revealed in a presidential decree published in the country’s Official Gazette.

With the new investments, foreign dependency will decrease, and the security of supply will be ensured. Moreover, it will give international competitiveness a boost.

The new incentive will speed up digital and green enterprise transformation. As a result, foreign direct investments and support investments that try to reduce regional development inequalities will increase.

Under this new scheme, investors can receive TL 240 million cash as support.

“We will provide incentives of up to 20% of the investment amount and TL 240 million with 11.5 to 18.4 points of interest-profit share support in investment loans,” Mehmet Fatih Kacır, Industry and Technology Minister, said.

“We will provide cash support of up to 25% of the machine price, 15% of the investment amount, and TL 240 million for the machinery purchases they will make with their own resources within the scope of the Türkiye Century Development Move.”

What Areas Will Receive the Most Support?

Investors in eastern and southeastern provinces will get extended social security premium support. The government will cover the employer’s share for a total of 14 years. On the other hand, the employees’ share will be covered for 10 years.

One plan of the government is to push industrial facilities to relocate from earthquake-prone or highly populated areas, such as Istanbul and the Marmara region, to Anatolia. Any investor that moves equipment and machines from these places will qualify for local employment incentives in the new location.

There will be four priority investment areas in each province. They will all be tailored to suit the dynamics of the area.

Tech industries that will get support include computers, aerospace vehicles, optical equipment, electronics, and pharmaceutical products. Medium-high tech industries might also receive assistance, including military land vehicles, electrical equipment, weapons, ammunition, and chemical products.

According to Mehmet Fatih Kacır, the system will be more focused and selective. This will ease things for investors, reducing their financial responsibilities.

The business world is pleased with the new system, with many representatives saying that the new plans will boost the development vision of Türkiye. The country will be able to reach a sustainable development goal and compete at the global level.

URA deploying tech to expand tax base

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URA deploying tech to expand tax base

URA deploying tech to expand tax base

World Business Journal talks to John Musinguzi Rujoki, Commissioner General, Uganda Revenue Authority (URA), about the country’s tax regime, initiatives aimed at enhancing both domestic and cross-border tax compliance, and the impact of digitalization and integrated artificial intelligence on advanced analytics and risk mitigation to boost revenue mobilization.

How competitive is Uganda’s tax regime within East Africa?

Uganda’s tax regime is relatively on par with other East African countries. Key tax rates, like VAT and corporate income tax, closely resemble those in neighbouring countries. The VAT rate stands at 18%, aligning with Rwanda, Tanzania, and Burundi, while slightly higher than Kenya’s 16%. The corporate income tax rate is generally around 30% throughout the region.

It should also be noted that countries within the East African Community (EAC) operate import taxes within the framework of a common external tariff. The implication then is that our tax rates tend to be the same across the region and we all apply zero import duty for goods that originate from the region. This helps to promote intra-regional trade.

Our economy is also young with immense growth potential, offering an attractive tax regime and generous incentives. Tax administration focuses on revenue collection and business facilitation, ensuring timely support and a level playing field. We collaborate with taxpayers and investors to achieve success, as thriving businesses lead to higher profits and better tax contributions.

What efforts are being made to improve domestic and cross-border tax compliance and revenue collection?

Efforts to improve tax compliance focus heavily on enhancing domestic tax collection, recognizing this as crucial for the country’s future self-sufficiency. Over the past decade, the focus has shifted from international trade taxes (which once surpassed domestic taxes) to domestic taxes, due to policies promoting import substitution and local manufacturing. Currently, domestic taxes contribute about 60% of the revenue, up from 40%.

Key strategies include deploying technologies, educating taxpayers, and leveraging data to expand the tax base, which has grown to over 4.5 million taxpayers, up from 1.3 million a decade ago.

In order to boost cross-border tax compliance, we use non-intrusive scanning and the Electronic Cargo Monitoring System to monitor goods in transit across borders in real-time using electronic tracking seals.

We are also establishing a central container depot for improved import assessment and adapting to business changes through regional agreements.

How is digitalization enhancing revenue mobilization and supporting the formalization of the informal sector?

 The transition from manual to online tax filing has simplified compliance, offering e-payment solutions, automated assessments, and enhanced advisory services.

Systems like EFRIS (Electronic Fiscal Receipting and Invoicing System) streamline the issuance of e-invoices and e-receipts, optimizing tax compliance and easing audit processes. Using Digital Tax Stamps (DTS), digitally traceable stamps are applied to products to ensure authenticity, verify tax payments, and combat counterfeiting.

We have employed Non-intrusive inspection with scanners at our customs boarders to detect illegal cargo entering the country, Bond Warehouse management system to facilitate clearance in bonded warehouses, Rental Tax Income Management solutions, a call centre that serves through multiple touchpoints [WhatsApp, web, email] and several taxpayer interface enhancements through improved functions of our web portal, the Mobile App, the new USSD menu. The aim is to empower the taxpayers and to minimize physical visits at our tax offices.

Through the Taxpayer Register Expansion Program (TREP) together with the Uganda Registration Services Bureau (URSB), Kampala Capital City Authority (KCCA) and local governments we created one-stop centers where all the business registration processes can be handled.

Under the TREP program, we encourage informal businesses to register and obtain a Tax Identification Number (TIN). This formalization opens access to financial services, government incentives, and credibility in the market, which are vital for business growth.

We plan to also automate excise warehousing and improve data processing with a Data Lake Solution. This approach will consolidate taxpayer data, integrate artificial intelligence for advanced analytics, and mitigate compliance risks.

Digitizing traditional methods comes with a learning curve. Many adapted well, but some local businesses faced hurdles. Ongoing efforts aim to highlight benefits, deliver regular training, and ensure clear communication.

Almost €1 Billion Invested in 15 Green Hydrogen Projects

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Almost €1 Billion Invested in 15 Green Hydrogen Projects

Almost €1 Billion Invested in 15 Green Hydrogen Projects

The EU just announced a new investment that will help reduce carbon dioxide emissions in the future. The Commission declared that it would fund 15 renewable hydrogen production projects across the European Economic Area.

More specifically, the EU will invest €992 million in these projects, aiming to produce 2.2 million tons of renewable hydrogen. These efforts will span over ten years.

The Selected Projects

15 projects were selected as part of the new efforts to create renewable hydrogen and reduce carbon dioxide emissions. These include:

  • H2LZ
  • VILLAMARTIN H2
  • Kristinestad PtX
  • PUERTO SERRANO H2
  • AGG280
  • AGS
  • KASKADE
  • Zeevonk electrolyser
  • TORDESILLASH2
  • H2-Hub Lubmin
  • HammerfestH2
  • Gen2-LH2
  • RjukanH2

Out of all the chosen projects, 12 of them are dedicated to creating renewable hydrogen with a €0.20 – €0.60 per kilogram premium support.

This is the first time that a dedicated budget for hydrogen producers is provided by an auction with maritime sector off-takers. Three bids from the listed projects received €96.7 million in grants. They will use €0.45 – €1.88 per kilogram. Every subsidy for the chosen projects goes from €8 million to €246 million over 10 years.

Why Is It Crucial to Boost Renewable Hydrogen Capacity?

Encouraging efforts to increase the production of renewable hydrogen is a priority. This comes following challenges regarding energy insecurity, but also climate change. What makes hydrogen from renewable electricity a good choice is the fact that it doesn’t release any CO2 when used. So, it can replace fossil fuels in some fields, such as long-haul transport, steelmaking, and more.

This way, the EU will not only reduce the negative effects on the environment but also give a push to green innovation and jobs. It will become possible to build electrolyzer plants, train a new clean energy professional generation, and even come up with storage solutions.

Furthermore, the EU will also be able to rely less and less on imported oil and gas, especially those that come from unfriendly regions. It will invest in its own green fuel instead.

What Will Happen Moving Forward?

Every project that was picked for funding will be invited to prepare its grant agreement with the European Climate, Infrastructure and Environment Executive Agency. All agreements are expected to be signed by September-October 2025.

It is required for signed projects to reach their financial close over two and a half years after receiving the signature. Moreover, they must start creating renewable hydrogen over the next five years.

A fixed premium subsidy will be given to each project for a period of up to ten years. This will allow them to generate certified and verified renewable hydrogen.

There is also another European Hydrogen Bank auction planned for the end of the year. It was announced in the Clean Industrial Deal and will have a budget of €1 billion. Under the European Hydrogen Bank, the Commission will also launch the Hydrogen Mechanism. This will allow buyers and sellers to come together and share information.

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