Appraising Romania’s Legal and Institutional Framework for The Implementation of The Juncker Investment Plan

pp.53-72. Oana Cristina Popovici, Adrian Cantemir Calin

Abstract


In this paper, we assess Romania’s position in terms of legal and institutional needs for ensuring the functioning of the European Fund for Strategic Investments, as Romania is one of the countries that lost the start of the Juncker Plan. The analysis we provide points to several shortcomings that threatened the application of the additionality principle: an inoperative public-private partnership law, the absence of a national promotional institution, difficulties in establishing connections between the public and the private entities. Based on the comparison between the European Commission’s requirements for enhancing the implementation of the Juncker Plan and the existing situation in Romania, we provide several public policy measures for capitalizing the potential of the Juncker Plan. The main findings indicate the need of a functional legislative framework that regulates the institutional public-private partnership contract and the establishment of a public-private partnership unit with high visibility for the private actors in the institutional machinery; the construction of investment platforms for improving the involvement of private environment in the economy; and diminishing the time for establishing a national promotional bank, as it represents the institution that connects these instruments and has an  important role in their functioning under the auspices of the Juncker Plan..


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Print ISSN:2188-8728   Online ISSN: 2188-2274