Review of the sectors transport, infrastructure and communications in romania
Investment opportunities as obtained by the CCIR
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Investment opportunities as obtained by the CCIRThe Chamber of Commerce and Industry of Romania and Bucharest is promoting a new product called the Centre of Investment Partnership in Romania – PART-INVEST. PART-INVEST is a new integrating concept in the organisation and development of investment promotion objectives, focusing on the continuous-flow utilisation of the current information stock and of the structured data bases created and developed during the first three annual editions (1997-1999) of the International Investment Fair in Bucharest. PART-INVEST pretends to do more than the matching between the demand and supply of investments. It wants to develop business contacts and partnerships for all categories of investors. Access to PART-INVEST services and databases is differentiated, according to the situation of those interested: 1. Those interested in promoting investment demands will contact the Chamber of Commerce and Industry of Romania and Bucharest or the County Chambers directly, forwarding the PROJECT QUESTIONNAIRES filled in properly (a means to load the demand in our data bank). 2. PART-INVEST will contact an investment fund or a credit operator, promoting their funding offer among those interested in getting an investment. 3. The initiative belongs to PART-INVEST that will directly notify those interested of the results of its undertakings, i.e. whether demand and supply match. 4. Periodical press releases will include data on the information loaded in our database, notifying the new information thereon. 5. Conventions will be concluded for on-line contacts, on Internet, with respect to different companies and firms accessing the information in our databases; 6. Promotional events: Investment forums notifying and promoting new legislation and special stipulations; Investment shows addressing power factors and important investors, for wide-ranging, complex (regional, sectoral) programmes/projects; Seminars debating on investment issues; Investment fairs. The major objectives of PART-INVEST are: Assisting investment processes in Romania. Promotion and development of Romanian investment projects in different fields of activity. Drawing inflows of venture capital and funding sources for the development of different investment projects. Supplying investment donors with exhaustive information on the economic and business setting in Romania, as well as on special regulations with regard to investments. Investment business partnerships – face-to-face meeting of investment demand and supply (bank credit lines, investment funds, direct investors, etc.). Organisation of promotional events in the field of investments. The structure of PART-INVEST is as follows: 1. Database a) Investment demand (investment programmes and projects); b) Available assets, equipment and plant; c) Fund supply (supply of funds/credits for investment project development); d) Investment environment;
legislation and special stipulations restructuring and privatisation programmes guidebooks, statistic information 2. Investment contact-making and partnership a) Information general information – the general project supply (free-of-charge) punctual, focused information on demand (against payment) b) Services consulting assistance intermediation direct negotiations c) Investment partnership investment consulting investment contacts; – face-to-face – multilateral (partnerships, business missions) 3. Marketing a) Involving the Romanian System of Chambers of Commerce and Industry b) Development of inter-institutional relations with connections to investment networks and data banks (e.g.: capital market: RASDAQ; the Stock Exchange; Commodity Exchanges) c) Promotional events; Seminars, focused workshops, forums organised in co-operation with previously selected partners. Investment shows for regional, sectoral, etc. programmes/projects. National and international investment fairs. The annual TII editions. The extensive list of projects as identified by the Chamber of Commerce and Industry of Romania and Bucharest can be found on the CD-ROM, which accompanies this report. Most of the projects are in the water sector (supply of drinking water and wastewater). Few projects have been offered in the field of transport and communication. existing donor activities in romaniaThis chapter is mainly focused on 'the big three' regarding multilateral donor and co-operation programmes: the European Union; EBRD; and the World Bank. European Union3The Accession Partnership continues to provide the single framework through which the priority areas for further work are identified regarding progress to be made by Romania towards membership of the European Union, the financial means available to implement these priorities and the conditions which will apply to that assistance. The 1999 Accession Partnership with Romania was adopted by the Council in December 1999 and remained the framework on which the programming for the year 2001 has been based. Indicative allocations for Romania in 2001 are as follows (in million EURO): Phare: 298.7 ISPA: 243.9 (mid-point of range) SAPARD: 153.6
PhareThe Phare programme has been providing support to the countries of Central Europe since 1989, helping them through a period of massive economic restructuring and political change. Its current “pre-accession” focus was put in place in 1997, in response to the Luxembourg European Council’s launching of the present enlargement process. Phare provides the applicant countries of Central Europe with support for institution building, investment to strengthen the regulatory infrastructure needed to ensure compliance with the acquis and investment in economic and social cohesion. This support comprises co-financing for technical assistance, "twinning" and accompanying investment support projects, to help them in their efforts to adopt the acquis and strengthen or create institutions necessary for implementing and enforcing the acquis. This also helps the candidate countries develop the mechanisms and institutions that will be needed to implement Structural Funds after accession and is supported by a limited number of measures (investments or grant schemes) with a regional or thematic focus. Around 30% of the Phare allocation is used for “institution building”, while the remaining 70% is used for financing investments. During the period 1990 – 1999, the Phare programme allocated € 1.2 billion to Romania.
Political criteria, including the judicial and penitentiary systems and support for civil society (€ 13 million); Economic criteria; programmes supporting the emergence of the market economy (€ 41 million); Meeting the obligations of the Acquis; twinning and investment in regulatory infrastructure (€ 73 million); Economic and social cohesion (€ 88 million). The key issues highlighted by the 2000 programming exercise were: The weak institutional capacity to prepare well-defined, mature projects corresponding to accession priorities, and The need to further develop the institutional framework for programmes of economic and social cohesion as regards programming, operational implementation and financial management and control as well as the division of responsibilities between national level bodies and the regions. As regards the former, a short-term response is to provide Phare resources for project preparation, and give greater weight to project preparation in the programming cycle. In the longer term the need is underlined for coherent measures to develop the competence and capacity of the public administration. On the latter point, specific decisions by the Romanian authorities as regards the institutional framework for economic and social cohesion will be needed prior to finalisation of the Phare 2001 programme. Romania’s indicative Phare allocation in 2001 is € 298.7 million, including € 24.5 for SIF. The Commission in consultation with the Romanian authorities in early 2001 prepared a Working Document on priorities for Phare 2001. It was prepared within the framework of the Accession Partnership and the Romanian National Programme for the Adoption of the Acquis, and draws on the analysis of the Commission’s Regular Report on Romania for 2000. The institution building priorities identified for Phare support under the 2001 programme for Romania (which will represent about 30 % of the total Phare budget) are in the following areas: Economic reform: support to the judiciary to improve the handling of bankruptcy proceedings. Reinforcement of institutional and administrative capacity: strengthening the central co-ordination of civil service rules and procedures, recruitment and training; developing the regulatory framework for municipal services. Internal market: alignment of legislation on intellectual and industrial property rights; strengthening supervision in the banking sector; establishing and independent authority for data protection; strengthening insurance supervision; improved operation of customs services; alignment of the legislative framework for the audio-visual sector. Agriculture: improvement of phytosanitary controls including border phytosanitary inspection; preparatory action for the creation of a national animal identification system. Fisheries: organisation of common market arrangements for the fisheries sector. Transport: adoption of EC norms as regards driving/resting hours for road transport; implementation of maritime safety acquis as regards State Flag Control. Energy: implementation of oil stocks acquis; development of the commercial operators for electricity and gas markets. Environment: harmonisation of environmental legislation as regards water and waste. Justice and home affairs: development of an integrated border management strategy; support for legislative approximation as regards the Law on Aliens; twinning support for the modernisation and professionalisation of the police. Economic and social cohesion: development of national policy framework as regards the specific priority measures in the National Development Plan which are expected to benefit from Phare support in a multi-annual framework; strengthening the institutional framework for regional policy. The main priorities identified for investment in the acquis (expected to receive about 30% of the Phare budget) are as follows: The cadastre and land registration system. Phytosanitary control structures, including border inspection posts. Equipment required for the preparatory phase of development of the national animal identification system. Maritime safety equipment. Testing equipment for railway safety. Equipment required for strengthening of the local environmental protection agencies. Equipment required for a visa information system. Further investment is also envisaged in the modernisation of the child protection services. Investments in economic and social cohesion are expected to receive up to 40 % of the overall Phare budget allocation: A further package of regional investment measures is expected to be financed, targeted on zones selected on the basis of socio-economic criteria related to the industrial restructuring process. As for Phare 2000, investments will relate to SME development, human resource development, and regional infrastructure. For SMEs, Phare support should be channelled through a national SME support scheme. In the area of human resources development, support will be provided for investment in the national vocational education and training system. Continued support will be provided for infrastructure projects of regional importance, including environmental rehabilitation of industrial sites. It is intended that the eligible target zones, and the measures supported by the Phare budget, will remain stable over a multi-year period, permitting the development of operational capacity and a resulting in a significant medium-term impact on socio-economic conditions in the target zones. The National Development Plan will be amended following the 2001 programming exercise to provide an appropriate medium-term-planning framework for programmes in the target zones. Further efforts are needed to build up the operational and financial implementation structures for programmes of economic and social cohesion. The introduction of an element of multi-annuality into Phare programmes of economic and social cohesion prefigures the future implementation of a structural funds approach. Multi-annuality will be achieved through maintaining support to the same priorities, measures and schemes over a number of years, and maintaining also the concentration on specific target zones of intervention, and will be reflected a new version of the National Development Plan which is expected to be prepared during 2001. The proposed investments in the phytosanitary control structures and the animal identification system respect the guidelines concerning the respective scope of intervention of Phare and SAPARD. Phare investment is limited public regulatory infrastructure supporting implementation of the relevant acquis areas. Phare infrastructure investment in economic and social cohesion relates primarily to infrastructure of regional importance; projects are selected to avoid the possibility of overlapping with national environment and transport priorities eligible for ISPA support. Other Phare support for economic and social cohesion is concentrated on target areas defined on the basis of socio-economic criteria related to industrial restructuring; the concentration of activities is primarily on urban and industrial areas, which results in a clear distinction between the spheres of intervention of Phare and SAPARD. The following list of Phare projects in the sectors of transport, infrastructure and water are being planned for 2001: Preparation of the Detailed Design for the Project Rehabilitation of the Railway Line Bucharest – Constanta, Section Fundulea – Fetesti. RoadWorthiness Enforcement Project. FIDIC engineer for the implementation of the works contracts for the rehabilitation of the railway line: Bucharest-Constanta, sections: Baneasa – Fundulea & Fundulea – Lehliu. Cross-Border Co-operation Romania-Hungary "Airport Cargo Terminal"; Location - Arad, Arad County. Cross Border Cupertino Romania-Bulgaria "Giurgiu-Ruse Bridge Railway Superstructure Rehabilitation and Continuation of the Substructure Safety Works". Technical Assistance for the implementation of the multi-annual CBC Ro-Bg strategy. Lasi Waste Water Treatment Works. Danutoni Wastewater Treatment Plant Extension – Biological Stage; Location - Valea Jiului. ISPAFor Romania, Community aid in the framework of ISPA will be between 20% and 26% of the total allocation. The average mid-range allocation is € 243.9 million a year (at 1999 prices), equivalent to € 1,674 million for the 2000‑2006 period. Guidance is that half of the support - € 121.9 million a year - will be used to finance transport infrastructure projects, the other half for environment projects. Strategic Objectives in the field of transport are stemming from serious weaknesses in its network of roads, railways and waterways. Due to lack of maintenance in the past 20 years, most of its components suffer from deteriorated condition. At the same time, there is a necessity of upgrading to European standards and of increased traffic capacity around urban areas. During the year 2000, the Commission approved four transport projects in the field of transport: Rehabilitation of the Baneasa - Fetesti railway (151 km on the Bucharest - Constanta line). Widening to four lanes of the national road from Bucharest to Giurgiu (Bulgarian border). Construction/rehabilitation of sections 4 and 5 of the Bucharest - Cernavoda motorway on the route to Constanta (EIB parallel co-financing for 3 other sections). Rehabilitation of the road section Craiova-Drobeta Turnu Severin (100 km representing the first phase of Craiova-Lugoj). The total eligible cost of these projects is € 579.8 million and the total multi-annual ISPA support amounts to € 434.55 million representing 51% of the 2000-2006 allocation. In view of support from ISPA in 2001, the Romanian Government has defined as a priority for ISPA financing modernisation of well travelled sections of the three trans European corridors crossing the country while maintaining a reasonable balance between road, rail and waterways: Corridor IV: from Hungary to Constanta (East Branch) and from Hungary to Bulgaria (South Branch) with a view of rising most of this rail/road corridor to EU standards. Corridor VII: Danube River from the Yugoslavian border to the delta (Ukrainian border), where navigability has to be improved. Corridor IX: from the Ukrainian and Moldavian borders to the Bulgarian border, an accent being put on road connections with Bulgaria. In the field of environment, Romania faces acute problems concerning air, water and soil pollution, which require large investment and the participation of both the public and the private sector. The major environmental impact relates to the poor quality of water, which is the result of discharge of untreated or partially treated wastewater. This is a substantial health risk and stresses the ecosystem. Furthermore, there are no wastewater plants with tertiary treatment, which resulted in eutrophication of many lakes and reservoirs. Five projects gained approval for Community financing in 2000: Piatra Neamt – Waste management programme (co-financed with the Danish Government). Constanta – Sewerage and wastewater treatment rehabilitation (co-financed with EBRD). Valea Jiuliu - Danutoni - Wastewater treatment plant. Iasi – Upgrading of water and wastewater systems. Craiova – Rehabilitation of sewerage network and wastewater treatment facilities. The total value of these five projects is € 241.8 million and the total multi-annual ISPA support amounts to € 181.4 million. In addition, the ISPA Management Committee expressed a favourable opinion with regard to: Braila – Wastewater treatment plant. Arad – Wastewater treatment plant. Bucharest – Technical Assistance for the preparation of the WWTP project. These projects, which represent a total cost of € 79.7 million and ISPA assistance of € 59.8 million, were decided by the Commission early 2001. Strategic priorities for 2001 are as follows: Priority 1: Wastewater and drinking water ISPA projects will focus on the largest urban agglomerations (in general of more than 100 000 inhabitants), on cities with no or insufficient treatment facilities, on urban areas with high wastewater discharges and on measures that mitigate the impact on environmental sensitive zones. Priority 2: Waste management Projects will focus on measures to minimise the disposal of waste through selective collection in large agglomerations and the promotion of waste recycling. Old landfills that cause severe health hazards will be rehabilitated and new landfills that meet EU standards will be opened. If needed, waste incinerators based on EU regulations will be built. Priority 3: Air quality protection Priority will be given to projects in agglomerations, to measures with cross-border impact and which maximise reduction, and to clean technologies (as opposed to end-of-pipe solutions). This priority will be addressed from 2002 onward. For the purpose of ISPA, the Commission favours an integrated basin-approach for water and waste management priority projects, which are located in the beds of the Danube and of its main tributaries. The 2000 allocation of € 239.305 million was fully committed in 2000 with a strict balance between transport and environment projects. This success in programming has been allowed through good and timely preparation of projects, most of the related technical assistance having been provided through the PHARE 1998 and 1999 programmes. Lessons learnt in this respect are the crucial importance of extensive feasibility studies. SAPARDRomania’s indicative allocation for SAPARD for 2001 is € 153.6 million (at 2000 prices) to support agricultural restructuring and rural development. In this context, a Rural Development Plan for the period 2000-2006, prepared by the Ministry of Agriculture, was submitted to the Commission in December 1999. A final version of the plan, for a total cost of € 2.083 million, submitted in November 21, 2000, following the positive opinion of the STAR Committee has been approved by the Commission on December 12, 2000. The plan foresees the following main objectives, which are coherent with the National Development Plan: Contributing to the implementation of the "acquis communautaire" concerning the common agricultural policy, the environmental protection and related policies in the field of food and consumer protection, public health, wellbeing and good health condition of the animals and plant health. Engaging in the environment protection, the transposition in the national legislation and implementation of the Directive "Nitrates", of the programme "Natura 2000" and of the Directive "Evaluation of the Environmental Impact" (Annexes I and II). Solving priority and specific problems for the sustainable adaptation of the agricultural sector and rural areas. According to the plan, the priorities set out will be implemented by the following measures financed with the respective amounts (share of total allocation of EU funds): Processing and marketing of agricultural and fisheries products (16.4%); Improving the structures for quality, veterinary and plant-health controls, foodstuffs and consumer protection (2.6%); Development and improvement of rural infrastructure(27.9%); Management of water resources (2.7%); Investments in agricultural holdings (14.5%); Setting up producers groups (1.6%); Agri-environmental measures (2.5%); Development and diversification of economic activities, multiple activities and alternative income (9.6%); Forestry (10.1%); Improving of vocational training ((5.2%) and Technical assistance 4.9%). 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