The Government will be able to sign investment agreements for implementing strategic projects for the national economy, according to a supplement to the Law on Investments in Entrepreneurial Activity that was approved by the Cabinet on April 5, IPN reports.
The possibility for the Government to be able to sign investment agreements was provided in accordance with the national strategy for attracting investment and promoting exports for 2016-2020.
“The Government signed such an agreement with investors in the Giurgiulesti Port. In many countries, the signing by their governments of such agreements with investors is a normal practice. This way the guarantees for investors are increased. In our country such a practice is not spread. But the World Bank and other donors and foreign and national businessmen recommended envisioning such a possibility by the national strategy for attracting investment and promoting exports for 2016 – 2020,” stated Olga Badanova, head of the General Business Environment Development Division of the Ministry of Economy.
The agreements signed by the Government with investors will clearly define the rights, obligations and concessions for implementing projects, including the administrative support offered by the state, the investment risks being thus reduced and legitimate interests of investors being protected. The method of working out, adopting and monitoring the implementation of investment agreements and the criteria for choosing strategic investment projects will be defined in regulations that will be approved by the executive.
