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"Rebuilding Romania" - Government to launch National Investment Plan

Inquam Photos/ Octav Ganea
Guvernul Romaniei

The Government is presenting on Wednesday the National Investment and Economic Relaunch Plan, in an event that will be attended by President Klaus Iohannis, Prime Minister Ludovic Orban and members of the Cabinet.

The document is titled "Rebuilding Romania".

"The health and economic crisis brought about by the COVID-19 global pandemic has showed the vulnerabilities of Romania prompted by the model of development promoted by previous governments. Only through the prompt and sustained intervention of the Government and the voluntary compliance of Romanians to the measures adopted by the authorities, the spread of coronavirus infections was limited and controlled efficiently, and the economy was saved from collapse by measures of support for companies and employees. Romania's development model based solely on the consumption of the population, determined by the pro-cyclical policies of the previous governments, must be changed into a new model of economic growth based on: stimulation and development of autochthonous capital and competitiveness of Romanian companies, investments in strategic domains, the digital transformation of the economy and public administration, the preparation of the economy for the new technological revolution, the transition to a durable economy," the document shows.

According to the quoted source, "the objective of the new model of economic development promoted by the Government is convergence with the European economies, so that the Gross Domestic Product per capita at standard purchasing parity reaches 87 pct of the EU27 average, in the year 2025."

The program features grants to restart enterprises, working capital and investments, non-refundable financing programs to increase the competitiveness of the SMEs, grants for innovative entrepreneurial initiatives and the digitization of companies, support for the development of agriculture and the food industry, financing programs for new investments and for the relocation of companies to Romania, guarantee programs to ensure the liquidity of companies, instruments to increase the capitalization of companies and to finance investments, as well as support measures for employees and companies necessary to resume economic activities, but also social protection measures.

The plan drawn up by the Government targets transport infrastructure, energy infrastructure, healthcare infrastructure, education infrastructure, investments for local development, agriculture and irrigation infrastructure, environment investments and sports infrastructure.

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