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May 25, 2020

PM Grindeanu to new EconMin: I want you to initiate defence industry revival

Premier Sorin Grindeanu attended on Thursday the ceremonies in which Economy Minister Mihai Tudose and SMEs Minister Alexandru Petrescu took over their mandates.

The PM told newly appointed Minister of Economy that he wants the relevant ministry to initiate steps to revive the national defence industry and that he wants to see most of the funds earmarked for defence spent in Romania, so that Romanian industry would be helped.

“I trust my two colleagues. I’m convinced that the two ministries’ priorities will be implemented at an alert rhythm. These are adjacent ministries profile-wise. I want the Economy Ministry to start to revitalise the defence industry. We have 2 percent of GDP for defence. I would like most of this sum spent in Romania, to be able to help the national defence industry,” Sorin Grindeanu said.

The Premier asked the new SMEs Minister to rapidly draw up the prevention bill.

In his turn, Economy Minister Mihai Tudose pointed out that he has scheduled a meeting with the Defence Minister next week, in order to synchronise the Romanian defence industry’s production capabilities with the needs of the Romanian armed forces.


EconMin Tudose: We will present a plan of measures for transforming Romania into energetic hub in Balkans


The authorities want to transform Romania in an energy hub in the Balkans with the help of Transgaz and Transelectrica companies, announced, on Thursday, when taking office, the new Economy Minister, Mihai Tudose.

“We already established for the next week a meeting with the Defence Minister in order to come to an agreement on the situations of the Romanian Army and the production capacity of the Romanian defence industry. In the shortest time we will present an analysis on the situation and a plan of measures for transforming Romania – based on the two giants of the economy Transgaz and Transelectrica – into an energy hub in the Balkans. It is a pity not to use the resources which we have”, Tudose said.

He specified that he wishes Romania not to export anymore copper ore, but copper plates.

“We will act according to the governing program on all that refers to non-energy mining, not to export copper ore and try to produce copper plates, thus the finite product. We have the richest resource of mineral water in Europe and we do not know how to use it efficiently. Together with SMEs we will act on the area of competitiveness because here we have a problem if we want to capture the external markets. Among the priorities there are also all the problems which we have with closing the mines where days of hardship are awaiting us, also from the European point of view, having a lot of pressures to close them. Let’s not forget Oltchim and other similar situations where things must be finalized with success from the economic point of view, as well as from the social point of view because there are thousands of people who have jobs there”, Economy Minister said.

Alexandru Petrescu, the new SMEs Minister, said that his domain has stringent problems, including difficult access to financing and an insufficient development of the Romanian companies’ export culture.


New Business environment Minister: Looking to turn efficient entire commercial attaché network


Romanian companies have difficulties setting up shop on foreign markets, the culture of exports is insufficiently developed and in this context I will seek to turn efficient the entire network of commercial attachés, fresh Minister for the Business environment Alexandru Petrescu said on Thursday upon taking office.

“I am perfectly familiar with the business milieu 99 percent of which is made up SMEs. There are stringent issues and here I’d point out the difficult access to financing, the insufficient development of export culture which puts Romanian companies into an unfavorable position when seeking to enter external markets. We have the Start-up Nation program, with 10,000 companies and 20,000 jobs per year. This is particularly important also from the standpoint of the negative balance of newly set up versus struck off companies. I will focus on turning this program into effect,” said Petrescu.

He also stressed the importance of strengthening economic diplomacy.

“I will look to turn efficient the entire network of commercial attachés, optimize the activity of our representatives in Romanian embassies. Another goal is the fast adoption in the most transparent and objective manner of the Prevention Law and creating together with the business milieu a business-friendly predictable and flexible legal tax framework,” added the Minister.

According to the draft prevention act, tax offenders could benefit from prevention measures once for each offence, within a 5-year period. Basically, the authority that identifies the offence will not be able to apply the sanction at the first finding, but will instead complete a report on the identified irregularities and will draft a compliance plan which will include the aspects that need to be remedied and the compliance deadline for each offence. The compliance deadline may not be less than 7 working days.

After expiry of the deadline the authorities can resume the control and if they find that the obligations set out in the compliance plan have not been fulfilled, they may apply the penalties provided for by the legislation.

The offending taxpayer has the prevention measures applied just once for each contravention in a 5-year period.

The prevention law shall not apply for penalties provided for offences such as undocumented work, like for instance for hiring up to 5 persons without concluding an individual employment contract, which carries a fine of 10,000 to 20,000 lei for each person identified. The prevention system does not apply in this case because it would encourage undeclared work.


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