In the Official Gazette with the number 1048 of 28 October 2022 was published the Emergency Ordinance (OUG) 147/2022 on the establishment, organization and functioning of the Romanian Agency for Investment and Foreign Trade, as well as for the amendment of the Government Emergency Ordinance no.43/2017 on the establishment, organization and functioning of agencies for small and medium enterprises, investment attraction and export promotion.
Starting from the date of entry into force of this Emergency Ordinance, the Romanian Agency for Investment and Foreign Trade, hereinafter referred to as the Agency, is established as a specialized authority of the central public administration, with legal personality, subordinated to the Government and coordinated by the Prime Minister, financed from the state budget, through the budget of the General Secretariat of the Government, by reorganization following the partial division of the Ministry of Entrepreneurship and Tourism.
As a result of the partial division referred to in paragraph (1), the Agency shall take over the activities, posts, staff and assets of the Foreign Investment Directorate and the Foreign Trade Department, with the exception of the Trade Policy Directorate.
The purpose of the Agency is to implement the Government’s policy for attracting foreign direct and portfolio investments in Romania, to promote foreign trade, including Romanian services, exclusively in the field of tourism, as well as to monitor Romanian investments abroad.
In order to achieve the objectives in the field of attracting foreign investments, promoting foreign trade and monitoring Romanian investments abroad, the Agency performs the following functions:
- a) as a state authority, which ensures the monitoring, coordination and control of the application and compliance with regulations in the field of foreign direct and portfolio investments in Romania, foreign trade and the monitoring of Romanian investments abroad;
- b) representation, which ensures, on behalf of the Romanian State, the representation at internal and external level in the field of promotion of foreign direct and portfolio investments in Romania, foreign trade and monitoring of Romanian investments abroad;
- c) regulatory, which ensures the initiation and elaboration of the necessary regulatory framework in order to attract foreign direct and portfolio investments, to promote foreign trade and to ensure the monitoring of Romanian investments abroad;
- d) strategy, which ensures the initiation, elaboration, promotion, substantiation and application of the Government’s policies and strategies in the field of foreign direct and portfolio investments in Romania, foreign trade and monitoring of Romanian investments abroad.
In fulfilling the functions set out in Article 2, the Agency shall have the following main tasks:
- a) to initiate and coordinate the elaboration of policies and strategies for the promotion of foreign investments in Romania and of action programmes for attracting foreign capital to the economy, collaborating with ministries and central and local public administration authorities, in accordance with the priorities and the economic development programme of the country;
- b) initiate, coordinate and ensure the control of the activities for the promotion of foreign investments in Romania, in order to increase the operations for the stimulation of direct investments, both local and foreign, in industry, services, scientific research, technological development and innovation, with indirect effects on regional development and the creation of new jobs;
- c) collaborate with the Ministry of Foreign Affairs and other ministries, with the Romanian Chamber of Commerce and Industry, with the Union of Bilateral Chambers of Commerce in Romania and with other entities with responsibilities in the field of exports and foreign investments, in order to promote and support foreign trade activities and investment interests of the Romanian business environment;
- d) ensure the follow-up of Romanian investments abroad.
The detailed tasks, organization, functioning and maximum number of posts of the Agency shall be established by Government decision, within a maximum of 30 days from the entry into force of this Emergency Ordinance.
The Agency shall be headed by a President, with the rank of Secretary of State, appointed and dismissed by decision of the Prime Minister.
The President shall be assisted in his work by a Vice-President, with the rank of Under-Secretary of State, appointed and dismissed by decision of the Prime Minister.
The Agency has a Secretary General, a senior civil servant, appointed in accordance with the provisions of Government Emergency Ordinance No. 57/2019 on the Administrative Code, as amended and supplemented.
The President of the Agency is the authorising officer.
The Agency shall take over, on the basis of a handover protocol concluded with the Ministry of Entrepreneurship and Tourism, within 15 days from the date of entry into force of the Government Decision referred to in Article 3 paragraph (2), the posts and staff of the Foreign Investment Directorate and the Foreign Trade Department, with the exception of the Trade Policy Directorate, as well as the assets corresponding to their activities, established on the basis of the financial statements drawn up in accordance with the provisions of Article 28 paragraph (11) of the Accounting Law no. 82/1991, republished, with subsequent amendments and additions.
From the date of entry into force of the Government Decision referred to in Article 3 paragraph (2), the Agency shall be subrogated to all rights and obligations arising from the normative acts, contracts, conventions, understandings, protocols, memoranda and agreements related to the activity of promoting foreign investments, including those related to the promotion of direct investments with significant impact on the economy, as well as those related to the activity of promoting foreign trade, including Romanian services, with the exception of tourism, exercised by the Ministry of Entrepreneurship and Tourism.