ECONOMY FINANCE&BANKING INVESTMENTS

Poland could offer Romania expertise in establishing Sovereign Development and Investment Fund

Poland could offer Romania expertise in establishing the Sovereign Development and Investment Fund (FSDI), due to the Polish model that is considered one of success for the Central and Eastern Europe, this subject being discussed on Monday by the Minister of Economy, Alexandru Petrescu (photo L), and the Deputy Prime-Minister and Minister of Development and Finances in Poland, Mateusz Morawiecki.

The meeting between the two officials took place on the occasion of the reunion of the Competitiveness Council of the European Union in Brussels.

According to a press release of the Ministry of Economy on Monday, the main topic approached during the discussions referred to the structuring of the Sovereign Development and Investment Fund in Romania, “in the context of the existing similarities from the point of view of the country’s economic profit, strategic investment necessities, but also of the macroeconomic parameters the two countries should respect (…), the Polish fund representing a successful model for the Central and Eastern Europe”.

The discussion of the two officials precedes the visit that the Romanian Minister of Economy is going to pay in Poland in the period March 7 – 8, 2017, where the technical details referring to the structure of the Sovereign Development and Investment Fund will be discussed, essential for the prioritization of investments and revitalization of key sectors of the Romanian economy, as well as on the dialogue with the European Commission that Romania will have with the aim of developing this funding mechanism.

According to the quoted source, the Polish official expressed the openness and support in structuring this instrument, confirming the availability to the Romanian side in putting at disposal the full Polish expertise for establishing the FSDI.

Minister of Economy, Alexandru Petrescu announced on February 9 that the Government decided the adoption of a memorandum on establishing the Sovereign Development and Investment Fund.

“We have adopted today a memorandum, according to the governing program 2017 – 2020, for the purpose of creating new instruments of public investment, the creation of the Sovereign Development and Investment Fund being a measure of economic stimulation, an instrument for funding investment in competitive, profitable and sustainable sectors, with the effect of multiplication in economy, following the attraction of capital and sources in the financial market”, Alexandru Petrescu stated, in a briefing held at the Victoria Palace.

According to the Ministry of Economy, the FSDI will represent a partner for the institutional investors, EBRD, EIB, World Bank, investment funds and other private investors.

Likewise, the Minister of Economy specified that a normative act on the effective functioning of this fund follows to be adopted.

 

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