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October 4, 2022

PM Grindeanu: Gov’t won’t hesitate to take appropriate measures to support Romanian investors

The Government will not hesitate to take the appropriate measures to protect and support the interests of Romanian investors, Prime Minister Sorin Grindeanu stated on Wednesday.

“We will not hesitate to take the appropriate measures to protect and support the interests of the Romanian private milieu. Romania is moving in a good direction and the prospects are encouraging. We must, however, make sure that we maintain the same pace and that the economy is functioning on strong, competitive and sustainable bases. \Therefore, the Government’s strategy involves taking measures so as to shift the engines from consumption to those areas that ensure productivity growth and encourage the creation of new jobs and at this moment, the Government’s zero priority is to bring in investments, especially in terms of infrastructure development,” affirmed Grindeanu at the” Romanian Capital Forum”, an event dedicated to the dialogue with Romanian investors.

The Prime Minister also stressed the need to streamline the procedures for the absorption of European funds.

“We want to simplify the formalities that need to be accomplished in the process of obtaining the European funds … (…) It is not a requirement of the Commission (European Commission – ed.n.). There are things invented here, by us, and yet another barrier that some ladies and gentlemen have thought of to make it more dependent … to make this process even more tangled. To be clearer – we do not want hundreds of thousands of papers that need to be signed and stamped. The European money is the best controlled, and we need to concern ourselves that this money gets to you (to the local investors – ed.n),” Grindeanu said.

The head of the Executive showed that the Government should continue reforming education for the provision of qualified labor force, in correlation with the labour market and reducing bureaucracy by removing other taxes, starting next year, besides the 102 taxes already repealed.

“Our interest is to be partners, to support you and not to suffocate you with controls and fines,” stated the prime minister.

In his opinion, the challenges for Romanian investors coming from the euro area can be countered by “more innovation” and support from the authorities. He has provided the examples of the measures already taken, such as the 10-year exemption of companies carrying out innovation, R & D activities, setting a 1 pct tax rate for microenterprises that have one or more employees and eliminating the 2 pct tax rate for microenterprises with one employee.

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