about us | newsletter | contact | archive | members area
Dan Copocean, Kimball Electronics
"I believe that the Romanian economy continues its development"»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Fondul Proprietatea urges President Iohannis not to promulgate the Ports Law

Fondul Proprietatea has sent a letter to President Klaus Iohannis outlining several reasons that constitute, in the Fund's view, a strong basis for the non-promulgation of the recently adopted law amending the Government Ordinance on ports, as it presents a serious obstruction to the economic development of all Romanian river and sea ports.

2017-06-26 14:34:29

From a constitutional perspective, in the Fund's view, the ports law breaks multiple principles safeguarding the economic liberty, free market economy, freedom of trade, fair competition, as well as non-discrimination - as the law freezes the rents at the current minimum levels for the next ten years, favouring a limited number of port operators who will benefit from these tariffs.
"The law allows the set-up of a Supervisory Body which will have the power to judge over potential conflicts between port operators and port administrations, thus creating a substitute for Courts of Law, which is unconstitutional," a press release shows.

Commenting on the damaging potential consequences of the implementation of the Ports law, Greg Konieczny, CEO and Portfolio Manager of Fondul Proprietatea, added: "Our estimates reveal that, in the case of Constanta Port alone, losses incurred by capping rents at a ridiculously low level, established in relation to the tariffs currently paid by the top five operators, would amount to 26 million Euro over the next decade. These five operators occupy 37 per cent of the port's surface and concluded their tenancy contracts many years ago, by direct negotiations. Only around ten per cent of the leased surface in Constanta Port has been attributed in transparent circumstances, through public tenders. Based on these facts and the numerous provisions of the law favouring port operators, it is not difficult to note that this law is dedicated to port oligarchs who will keep money in their pockets that would otherwise flow to the Romanian state if rents would be set according to free-market rules."

Fondul Proprietatea urges President Klaus Iohannis to take into consideration the Fund's argumentation on the harmful impact of this law for the Romanian state and take a decision to either send the law to the constitutional court or for re-examination in the Parliament.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  5573 Views
Daily Info
Corneliu Bodea was reappointed as president of Romanian Energy Center

Corneliu Bodea was reappointed as president of Romanian Energy Center (CRE) with 244 votes, being the only candidate. His new mandate will last until September 2020.

Zacaria develops the first private industrial park in Craiova

The construction works on the new business park in Craiova are ongoing and the first 10,000 sqm of industrial space will be delivered by the end of the year, the Romanian real...

FIC: High growth without infrastructure is not possible in the long run

The Foreign Investors Council (FIC) believes infrastructure is key for Romania's future development and it is also one of the three pillars Romania must focus on if it is to b...

Superbet bonds start trading on Bucharest Stock Exchange

Corporate bonds of Superbet Betting & Gaming S.A., one of the most important gambling operators in Romania, have started trading on the Alternative Trading System managed by B...

Michele Abbate was appointed as new CEO of Enel Energy and Enel Energy Muntenia

Michele Abbate is the new CEO of Enel Energy and Enel Energy Muntenia, the two companies owned by the Enel group in Romania.

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
Over 19,000 business plans submitted for Start-Up Nation program

Start-Up Nation Government program attracted over 19,000 business plans and a new edition will take place next year, said Ilan Laufer, Minister for the Business Environment...

President Iohannis to hold political consultation to designate future PM

Parliamentary parties are invited today to the Cotroceni Presidential Palace for consultations with President Klaus Iohannis over the designation of the future prime minist...

Sorin Grindeanu hails the support for CVM lifting before 2019

Prime Minister Sorin Grindeanu met at Victoria Palace with the European Commission President Jean-Claude Juncker. The meeting was also attended by the Public Finance Minist...

PM Sorin Grindeanu: 5.7 per cent economic growth - confirmation that the measures taken by the Government are the right

The 5.7 percent economic growth registered in the first quarter of 2017, as compared to the first quarter of 2016, an evolution which exceeds the expectations of analysts a...

Business Lease posts four million Euro turnover in the first semester of 2017

Business Lease, international company providing complete mobility solutions through Operational Leasing, Car Fleet Management and Rental in Romania, closes its first semest...

Vienna Insurance Group posts profit of 110 million Euro in Q1

Vienna Insurance Group reported a profit before taxes of around 110 million Euro in the first quarter of 2017, according to a press release.

Chinese delegation seeks investment opportunities in Romania

Prime Minister Mihai Tudose discussed at the Victoria Governmental Palace on Thursday about the opportunities to invest in Romania with an official delegation of the People...