New regulations on the establishment of certain agencies for small and medium-sized enterprises, attracting investments and promoting exports

Emergency Ordinance no. 43/2017 on establishing, organizing and operating agencies for small and medium-sized enterprises, attracting investment and promoting export (“Emergency Ordinance no. 43/2017”) aims to support small and medium-sized enterprises, foreign investment, and promote exports. It intends to aid the development and consolidation of the business environment and to facilitate a greater absorption of non-reimbursable funds from the state budget for the sector of small and medium sized enterprises.

The main purposes of the newly established agencies created by the ordinance are to perform the functions of implementing policies and measures designed to:
• attract investments,
• promote exports,
• encourage and stimulate small and medium-sized enterprises,
• assess programs,
• certify compliance,
• pay proceeds,
• monitor applicants and beneficiaries of non-reimbursable funds, and
• provide “minimis” help.

All of this is to be managed and implemented through the Ministry of Business, Trade and Entrepreneurship.

The agencies established by Emergency Ordinance no. 43/2017 will perform their activities in the following sectors:
• small and medium-sized enterprises;
• foreign investments;
• promoting exports.

The Official Gazette of Romania, Part I, no. 505 dated June 30, 2017 published the Emergency Ordinance no. 43/2017 on establishing, organizing and operating agencies for small and medium-sized enterprises, attracting investment and promoting exports.

Emergency Ordinance no. 43/2017 came into effect on June 30, 2017.

2016 - All rights reserved Stratulat Albulescu - Attorneys at law