Deputy PM Stanescu says Romania has investment build-up period ahead

Deputy PM and Development Minister Paul Stanescu said on Thursday that it is paramount for Romania to switch to a new development model, explaining that the government envisages regulatory acts such as the Administrative Code, the Local Public Finance Code, the Public Private Partnership Law, or the Public Procurement Law to streamline public administration activity. 

"In order to catch up with the other member states in terms of performance, it is paramount for Romania to switch to a new development model, with emphasis on mature projects and investments that add value to the economy and direct investments to activities that support domestic production; all these regulatory blueprints are proof of the government's openness to investment and the upcoming period must be a time of investments for Romania," Paul Stanescu told the 27th edition of the General Assembly of the Romanian Municipalities' Association, a release informs. 

Stanescu explained that as far as infrastructure is concerned, the government's priority is to correlate funding sources for local authorities' public investments under the National Local Development Program with EU funding or the programs run by the National Investment Company and the National Housing Agency. 

"Narrowing regional gaps is one of the major goals in using these funds and Romania must support intelligent, sustainable and inclusion-favorable growth, along with cutting down regional disparities," Stanescu said. AGERPRES .