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June 22, 2021

Romania draws up eight investment projects worth over 570 million euros under Juncker Plan

Romania currently has eight investment projects worth in excess of 570 million euros for the Juncker Plan that have been submitted to the dedicated European portal, with energy efficiency, education and ecological agriculture being the areas covered by the projects.

In a press statement released on Friday, Romanian Ministry of Economy, Trade and Relations for with Business Environment (MECRMA) says Economy Minister Costin Borc has welcomed European Commission Vice-President for Jobs, Growth, Investment and Competitiveness Jyrki Katainen to discuss support for investment under the Investment Plan for Europe, also known as the Juncker Plan, the development of the SME sector and a Competitive Romania project.

Emphasis was placed on boosting investment to consolidate the business sector as well as facilitating access to funding, especially the access of small and medium-sized enterprises. Special importance will be attached to the implementation of the third pillar of the plan to improve the domestic business environment.

Acting on the implementation measures for the Juncker Plan, Romania has so far devised eight projects posted on the special European portal of investment projects, and they are worth in excess of 570 million euros, covering areas such as energy efficiency, education and ecological agriculture. In addition, projects worth more than 470 million euros are being currently assessed by specialist departments of the European Commission. Also looked into are being 14 requests for project quality improvements by the provision of counseling services from the European Investment Advisory Hub.

MECRMA and the Public Finance Ministry are monitoring nationwide in Romania the Investment Plan for Europe, having set up a national contact point, while facilitating regular talks between the European Investment Bank (EIB) and state-run companies interested in taking out loans from the EIB/European Structural and Investment Funds.

About the Competitive Romania strategy, Borc is quoted as saying its main objective is boosting the country’s economic growth from 3 percent to 5 percent by 2020 under a plan of structural reforms in 16 key areas that have an impact on three determining factors of the Gross Domestic Product (GDP): productivity, workforce and capital.

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