The film industry in Romania has seen a significant revival with the relaunch of the cash rebate program through the Office for Film and Cultural Investments (OFIC). After a temporary suspension in 2021 due to unresolved payment requests for projects submitted in previous years, the program has been restructured to regain the trust of the international industry and support film productions in the country.
Valentin Savu, manager at OFIC, shared that the program has made significant progress in paying off outstanding debts and supporting over 50 projects since its relaunch. The cash rebate program now offers a 30% return on expenditure, covering eligible expenses incurred in Romania for audiovisual works. With a budget of up to €55 million per year and an estimated total budget of €122 million for the period between 2024-2026, the program aims to attract more productions to shoot in Romania.
OFIC has the authority to sign financing agreements until the end of 2026 and make reimbursements until the end of 2028. Savu mentioned the possibility of extending the scheme or creating a new one in the future to continue supporting the film industry in Romania. Industry leaders, including Iuliana Tarnovețchi from Alien Film, emphasized the importance of the program and the collaboration of producers and filmmakers in Romania to ensure its success.
Tarnovețchi shared insights about a major international production she is currently working on with a prominent American studio, scheduled to shoot in Romania and benefit from the new rebate system. She expressed hope that the success of this project would attract more productions to the country, highlighting the potential for Romania to become a preferred filming location for international projects.
Director and producer Tudor Giurgiu praised the new application process for its ease of use and emphasized the importance of continuing government support for the program. He also suggested a shift in focus from serialized projects to feature films to diversify the types of productions supported by the rebate program.
Overall, the relaunched cash rebate program in Romania has garnered positive feedback from industry professionals, with hopes for continued success in attracting more film productions and showcasing the country as a desirable filming location for international projects. The co-production landscape in Europe is becoming increasingly competitive, leading to a greater need for funding opportunities. One positive development in this regard is the increase in rebate incentives in countries like Romania. Iulia Popovici, from the Romanian Film Office, shared plans to raise the rebate to 40% in the near future to better compete with neighboring countries such as Hungary.
The success of the rebate scheme in Romania has faced challenges but has ultimately persevered. Popovici emphasized the collaborative effort required to maintain and improve the scheme, likening it to a resilient survivor. Despite political and financial crises at the national level, there is a commitment to ensuring the continued success of the rebate program.
The importance of analyzing and enhancing the attractiveness of Romania as a filming destination for international producers was highlighted. By offering competitive incentives and creating a favorable environment for production, Romania aims to attract more high-profile projects and remain a viable option for filmmakers.
The future of the scheme looks promising, with a focus on sustainability and growth. By working together and adapting to changing industry trends, Romania aims to solidify its position as a desirable location for film production. The dedication to improving the rebate program reflects a commitment to supporting the local film industry and attracting international talent.
Overall, the co-production landscape in Europe is evolving, and countries like Romania are taking proactive steps to stay competitive. By offering attractive incentives and fostering a supportive environment for filmmakers, Romania is positioning itself as a key player in the global film industry.
