Sovereign Fund project to be adoped by law until September

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The Project regarding the Sovereign Development and Investment Fund (FSDI) will be implemented by September through the adoption of a draft law, that will be sent to the Parliament, announced the Prime Minister Mihai Tudose.

“Today we will have the Sovereign Development and Investment Fund at the first reading, and it will be submitted to public debate, sent to Eurostat, and objectified until September, into a draft law, that will be submitted to the Parliament”, said Tudose at the beginning of the Government meeting.

In his turn, the Minister of Economy Mihai Fifor, said that the FSDI is the “central element” of the 2017-2020 Governance Program.

“This fund is an economic stimulus measure that, as a result of attracting capital from the domestic and international financial market, can be funded for profitable and sustainable investment projects that will lead to a multiplication effect in the economy, leading to the development, in parallel with the increase of the budget revenues. The idea of creating the Sovereign Investment Fund was also endorsed by the European and international institutions”, said Fifor.

According to him, the FSDI will take the form of a joint stock company with sole shareholder – the Romanian state, throughout its existance, according to Agerpres.

“The purpose of the Sovereign Development and Investment Fund is to finance from its own sources and from funds attracted by cost-effective and sustainable investment projects in various economic sectors. The funding is based on earnings from dividends received from the companies in its portfolio, from those resulting from operations with their own financial instruments and from those issued by other entities, from earnings from the sale of shares from the portfolio, from loans, including through the issuance of bonds and from other sources”, said Fifor.

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