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August 9th, 2005

Foreign investments up 35% in the first half of 2005

 

The Romanian Agency for Foreign Investment aims at attracting a volume of foreign direct investments of EUR 3.2 bln - EUR 3.8 bln.

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August 9th, 2005

CEC expects letters of intent for its privatization by August 31st

 

The participating banks must be internationally known financial institutions.

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August 8th, 2005

Romanian government approves strategy to reform public procurement system

 

The strategy aims at law and institutional adjustment, the adoption of the EU practices in the field and at streamlining efficiency, transparency and competitiveness of the public procurement system.

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August 8th, 2005

Romanian Competition Council endorses HVB Tiriac

 

The merger of HVB Bank and Banca Tiriac resulted in the 4th largest player on the Romanian banking market.

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August 7th, 2005

Romanian government approves setting up of Holocaust institute

 

The main activity of the institute is the research into and the examination of the Holocaust.

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August 4th, 2005

Austrian Chancellor voices conviction that Romania and Bulgaria's accession to EU will happen on January 1, 2007

 

The themes of interest for the Austrian presidency of the EU - the development of the Danube infrastructures - is advantageous for Romania’s accession to the EU and its economic development.

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August 2nd, 2005

Romanian bank BCR ready for privatization
 
A number of leading international banks are vying for a major shareholding in Romania’s largest bank.

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July 28th, 2005

New harsher law to fight tax fraud

 

Fiscal evasion will be punished by jail

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July 26th, 2005

Romania's GDP estimated to advance 8.3% in 2005

 

Romania's industrial output is expected to advance 5.7% in 2005, while agriculture output is projected to grow by 2.8%.

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July 6th, 2005

Conditions for foreign direct investment in Romania to be improved

 

Romanian Agency for Foreign Investments and Foreign Investors Council work together to identify the investment priorities for each area and grant more facilities to investors

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News - full article
 

August 8th, 2005

Romanian government approves strategy to reform public procurement system

 

The government endorsed, at its meeting of 4 August a strategy to reform the public procurement system in 2005-2007, a document agreed upon with EU officials.

 

The strategy's actions aim at law and institutional adjustment, the adoption of the EU practices in the field and at streamlining efficiency, transparency and competitiveness of the public procurement system. The government promised to report to the European Commission about the stage of the strategy's implementation, every half a year.

 

The Romanian authorities plan, based on this strategy, to improve by 2007 the weak points noticed over 2001-2004 and streamline the functioning of the public procurement system so that it meets EU demands and standards. The action guidelines are thought to improve the existing legal framework and strengthen the law enactment, a government release says.

 

The new laws on public procurement must come into force six months before Romania joins the EU, at the latest.

 

Adjusting the Romanian laws to the EU legislation is only the first guideline of the strategy, the second one being the strengthening of the capacity to enact the laws on public procurement at the level of all the contracting authorities, both central and local, and at the level of institutional structure playing a role in regulating and monitoring public procurement.

 

To this end, a National Authority for Regulating and Monitoring Public Procurement (ANRMAP) will be set up, due to become operational in October, staffed with the employees of the existing directorate of the Finance Ministry for regulating and monitoring the public procurement as well as the Public Works Office with the procurement general directorate of the Transport, Building and Tourism Ministry.

 

A commission made up of state secretaries with ministries such as European Integration, Finance, Justice, Transport, Building and Tourism, Communications and IT, and the Ministry of Environment and Water Management will monitor the implementation of the measures. The commission is to meet quarterly or whenever needed. Civil society officials will also be invited to attend the commission's meetings.

 

 

(Sources: BBC, Rompres)

 



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