Franz Fayot, Luxembourg's Minister of the Economy; Credit: © SIP / Emmanuel Claude, all rights reserved

Luxembourg's Minister of the Economy, Franz Fayot, announced on Wednesday the extension of the Fit 4 Resilience strategic recovery programme until 31 December 2021.

Officially launched last May by the Ministry of the Economy as part of the "Neistart Lëtzebuerg" economic recovery plan, Fit 4 Resilience is a programme aimed at companies particularly affected by the consequences of the COVID-19 pandemic. The goal is to support companies as they emerge from the crisis and to help them envisage a longer-term development strategy, integrating a more digital, circular and regional approach. It was scheduled to end on 31 December 2020, but has now been extended by one year.

Minister Franz Fayot commented: "In just a few months, the mobilisation of all sectors of activity around this programme has been remarkable. Today, companies are faced with challenges that are sometimes unprecedented. Through Fit 4 Resilience, they can benefit from a relevant analysis of their strengths and weaknesses and identify the actions to be implemented, particularly in terms of digitalisation and sustainability. It was important to give them more time to implement their sometimes quite complex reflections".

Since the launch of the programme, more than 50 companies have shown an interest. Fifteen of them have concretely started the process and three have completed it. These companies employ a total of more than 1,880 people and are active in the food industry, trade, logistics, crafts, construction, the wood industry and health technology. In addition, 25 consulting firms have been accredited.

The national innovation agency, Luxinnovation, has developed the programme and is in charge of its operational management. Sasha Baillie, CEO of Luxinnovation, explained: "Our role consists of both supporting companies in analysing their problems and liaising with the approved consultants who will be present in the field to implement the process. We also act as an interface with the Ministry of the Economy for subsidy applications. We are pleased that the companies will be given more time to take their future into their own hands".

Interested companies will be able to apply for participation in the programme until 31 December 2021 via the platform