Sovereign Development and Investment Fund (FSDI)

The Sovereign Development and Investment Fund (FSDI) will be managed by the Ministry of Finance, and the Ministries that have administrated so far the companies within the Fund will continue to have certain coordination skills, Energy Minister Toma Petcu said on Monday.

"One of the strategic objectives, through the governing program, is the Sovereign Investment Fund, which is important for Romania's economic development and which will be an economic development engine.

From my point of view, all the profitable companies with a strong capitalization in any field, not just those in the field of Energy - because we are talking about a general Investment Fund - should be in this Fund, according to the communication we will have with the European Commission and according to the decisions regarding the competition, so that we won’t create any problems”, the minister said at a specialized conference.

He pointed out that the Fund was presented in the Government in the first reading on Friday, and that the Executive would ask the European Commission’s point of view in reference to this project.

The Sovereign Development and Investment Fund will be completed by September in a draft law and sent to Parliament, Prime Minister Mihai Tudose announced on Friday.

According to the Head of the Government, FSDI will take the form of a joint stock company with a sole shareholder, the Romanian State, throughout its functioning period.

Source:RRA.Translated by Miruna Matei