Future projects with China may lead to EUR 20 bln investments


Deputy Prime Minister Liviu Dragnea is paying a working visit to China, having meetings with officials in the fields such as IT, communications and energy.

The Romanian government asked for the support of the officials in Hong Kong in attracting the big investments funds in the region to finance large projects in Romania. It is about projects that will require investments of approximately EUR 20 billion for which the two countries signed agreements last year, Deputy Prime Minister Liviu Dragnea said in the end of his meeting with the Chief Executive of the Hong Kong Special Administrative Region, K.Y. Leung, Agerpres informs.“We have discussed a very important matter at the request of the Romanian Prime Minister. I asked him (ed. note – the Chief Executive of the Hong Kong Region) to try to gain the interest of the investment funds in Hong Kong, which are very big funds, and also of the financial institutions, in financing first of all projects that we want to develop together with China in the energy and infrastructure fields and he looked interested. We also discussed about my next visits while I am in China and he appreciated that they represent a good opportunity”, Dragnea said.
Deputy Prime Minister is currently paying an working visit to China over March 20-26, following to hold high level meetings with Chinese officials to analyse the current stage of implementation of the agreements signed in November last year, during the visit to Bucharest of the Chinese Prime Minister, Li Keqiang.
Also, Hong Kong will start negotiations for the signing of the double taxation agreement that was already discussed last summer during Prime Minister Victor Ponta’s visit to China. ‘We agreed to speed up the signing of a double taxation agreement between Hong Kong and Romania. The Government approved on January 29 a memorandum providing for the start of negotiations for the signing of this (…) important agreement, given that Romanian exports account for 80 percent of Romania’s commercial relations with Hong Kong, therefore a double taxation agreement benefits primarily the Romanian companies,’ said Dragnea at the end of the roughly 45-minute meeting which took place at the residence of the Chinese official. According to the Romanian Vice-Premier, ‘the teams of negotiators will meet in April, probably somewhere around the 7th of the month.’
On Friday, in Shenzhen, the Romanian official had meetings with representatives of such big companies operating in the fields of communications and energy as: ZTE Corporation, Huawei and CGN (China General Nuclear Power Group).
In this context, Dragnea said that the Government might decide to extend the deadline of the letter of intent the company CGN has with Nuclearelectrica, for reasons that it has with Nuclearelectrica the negotiations between the Chinese company and the Romanian side in full swing of development and refer to ‘the largest investment project’ of the Ponta Government. ‘It is actually the largest investment project that the Victor Ponta Government has as its aim. They talked about the stage of the negotiations between this company and the institutions in Romania, namely Nulearelectrica, Energonuclear, the Ministry of Economy, the Ministry of Energy and the Ministry of Finance. Important steps were made when it comes to a mechanism, a package guaranteeing this investment. … The Chinese company had a letter of intent that is valid till May 25. We agreed together that it is worth our thinking seriously of extending this deadline of May 25 as talks with our European partners are needed and, in the end, it is important that we should carry this aim through,’ said Dragnea at the end of the talks with the CGN officials. According to Dragnea, the deadline of the letter of intent might be extended till the end of the year. The Romanian Deputy Prime Minister added that this project ‘can ensure, when it is finalized, almost the fifth part of the energy necessary for our country.’ Dragnea added that the negotiations with the CGN would continue in April in Bucharest and PM Ponta was to decide who will coordinate the operational group to deal with this project. In this context the officials of the Chinese company were informed of the memorandum approved by the Government last week for stimulating the investments in energy amounting to over EUR 1 billion.
Young Romanian
IT specialists to get Huawei scholarships
Then, after meeting Huawei company CEO William Xu, Dragnea announced that 15 young Romanian IT specialists will get scholarships from the Chinese maker to study in China. He added that the talks with the Chinese company executives had also been aimed at identifying a city in Romania in which Huawei should develop pilot projects for citizen safety.
Xu stressed Huawei is very willing to increase its investments in Romania and he announced ‘Huawei has planned to increase the number of employees on a local level to around 1,000 by 2018, with more than 70 percent of them to be Romanian employees and it will thus offer an increasing number of jobs both directly and indirectly’.
Also on Friday Dragnea met ZTE Corporation executives, with the main topic of the talks being an invitation made by the Romanian side to the Chinese company to be part of a future technological park the Romanian Government plans to set up.
Dragnea and Leung discussed about the promotion of the Romanian wines in Hong Kong, the world’s largest wine promotion market. During the second part of his visit, the Deputy Prime Minister Liviu Dragnea had a bilateral meeting with the Vice Prime Minister of the People’s Republic of China, Zhang Gaoli.

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