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November 30, 2022
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Government approves establishment of Romanian Agency for Investments and Foreign Trade

The Government approved, on Friday, an Emergency Ordinance on the establishment, organization and functioning of the Romanian Agency for Investments and Foreign Trade, as well as for the amendment of the Emergency Government Ordinance no. 43/2017 on the establishment, organization and functioning of agencies for small and medium enterprises, investment attraction and export promotion.

According to the Executive, the agency will be subordinated to the Government and coordinated by the Prime Minister.

“The agency will have legal personality and is established through the reorganization of the Ministry of Entrepreneurship and Tourism, through partial division, by taking over the activities, positions and personnel of the Foreign Investments Department and the Foreign Trade Department, with the exception of the Commercial Policy Department,” the Government said in a statement.

“The Agency will ensure a coordinated, coherent and professional policy in the field of attracting foreign investments and promoting exports, being concerned with sectoral, strategic and sustainable development. The purpose of the Agency is to ensure the sustainable growth of the Romanian economy, based on the infusion of capital in areas considered strategic, but above all the increase of Romania’s political and economic relevance at the regional and European level,” the Executive mentions.

The legislative proposal aims, according to the Government, to facilitate a favorable climate for foreign investment promotion activities in Romania, providing a stable framework for the strategic directions of the Romanian Agency for Investments and Foreign Trade, thus facilitating predictability in the relationship with foreign investors and national exporters.

“Through this measure, the aim is to increase operations to stimulate foreign investments in industry, services, scientific research, technological development and innovation, with indirect effects in regional development and the creation of new jobs,” the Government also shows.

“The agency will ensure a coordinated, coherent and professional policy in the field of attracting foreign investments and promoting exports. The purpose of this structure is to contribute to the sustainable growth of the Romanian economy, based on the infusion of capital in strategic areas,” the Executive added.

 

PM Ciuca: Setting up Romanian Agency for Foreign Investments long expected by business milieu

 

Prime Minister Nicolae Ciuca on Friday stated that the Executive’s agenda lists one decision regarding the establishment of the Romanian Agency for Foreign Investments and Export Promotion that the business milieu has long expected to see enacted.

“We have a very important decision on the agenda, a decision that the business environment has been waiting for a long time to see adopted. At the meeting I had with the businessmen from Belgium and Romania present in Belgium, we also discussed this topic of the openness that the Government shows towards the business environment and investors and the expectations they have from us in the sense that we should continue to pay attention to everything that means economic and fiscal measures to facilitate investments in Romania, as well as the structural organization, to be able to have a project that can ensure coordination and communication with the business environment. Starting today, this project will be called the Romanian Agency for Foreign Investments and Export Promotion. It is a structure that needs highly qualified human resources. It is a structure for which we must ensure the procedural framework of operation so that it is as open as possible, as efficient as possible in terms of what it means, as the name implies, the promotion of Romanian exports and the facilitation of foreign investments in our country,” said the Prime Minister, at the beginning of the Government meeting.

Currently, the agenda of the Government meeting includes a draft of the Emergency Ordinance regarding the establishment, organization and operation of the Romanian Agency for Foreign Investments and Trade, as well as for the modification of the Government Emergency Ordinance no. 43/2017 regarding the establishment, organization and operation of the offices for small and medium enterprises, investment attraction and export promotion.

 

 Conclusion of talks in Brussels – we need to adjust National Recovery and Resilience Plan

 

Prime Minister Nicolae Ciuca on Friday stated that following talks in Brussels, the conclusion was reached that “adjustments” need to be operated on the National Recovery and Resilience Plan (PNRR), while showing that there is no time for renegotiation, because it would mean a waste of time and resources.

“Basically, after all these discussions, the result, the conclusion is that we need to make some adjustments, since we don’t have time for renegotiation, because it would mean a loss of both time and resources and, basically, the commitment to implement this PNRR and to do it in such a way that we can achieve the full absorption of financial funds, from grants and loans, will not be achieved 100pct. As such, our commitment is to do everything possible, so that together with the technical staff from the ministries, those who are coordinating reforms and the technical staff from the Commission, we agree and manage to find those solutions to ensure the fulfillment and implementation of the National Recovery and Resilience Plan,” Ciuca said at the beginning of the Government meeting.

He said that there was a discussion “in principle” about the ceiling of 9.4pct of GDP assumed by the PNRR for pensions.

“I agreed with the president [Ursula von der Leyen – editor’s note] that this indicator can be replaced by indicators of fiscal discipline, based on the World Bank study, and the technical details related to the manner in which it will be done will be established at the level of the specialist committees,” said the PM.

Regarding decarbonization, it was agreed that, in the current context, it is necessary to take measures at the level of the European Union to ensure energy security, the head of the Government mentioned.

“Romania has coordinated and will continue to coordinate with the European Commission in all the decisions that have been taken and will be taken in the future in order to be able to guarantee energy security and in this way, according to its own plan regarding decarbonization, on December 31 we will be able to stop production at two energy groups, each of 300 mW. These two groups, as we agreed, could be placed as technical backup, so that they will be available to be restarted as many times as it will be needed to ensure energy and balance of the system,” said Ciuca.

The Prime Minister stated that during his visit to Brussels, elements of transport infrastructure were also discussed.

“Basically, all these discussions were agreed in the sense that changes within the PNRR can be technically agreed. And here I come and present an example. Under the PNRR, we undertook to complete the M4 subway line, while keeping in mind that this is not yet a mature project and there is not enough time for it to be completed by 2026, which means that there is a possibility that this line can be replaced by another, which can be completed and ensure the absorption of the money,” explained Nicolae Ciuca.

 

Compiled from Agerpres

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