Press Review - July 23, 2015

07.23.2015 By Gabriela Stan

Gabriel Resources Seeks International Arbitration Against Romania

Canadian mining company Gabriel Resources has filed a request for arbitration before the World Bank's International Center for Settlement of Investment Disputes against Romania, the company said Wednesday.

The action relates to the company’s dispute with Romania over the development of the Rosia Montana gold and silver mining project, of which Gabriel holds an indirect 80.69% interest, and violations by the government of Romania of the protections afforded by the international treaties for the promotion and reciprocal protection of involvements, which Romania has with Canada and the UK.

The project is considered one of the most important foreign direct investments in the country, with the potential to provide both a significant boost to the Romanian economy as a whole and to stimulate growth and development of the Apuseni region, which was a mining district for many centuries. (Curierul National)

Liviu Dragnea Is New PSD Interim President

The members of the Social Democratic Party (PSD) on Wednesday voted for Liviu Dragnea as interim PSD president, with 65 pros, while Rovana Plumb only got 18 votes.

Victor Ponta left the room before the voting and did not return.

“My colleagues offered me a vote of confidence to form a united team that would shortly prepare a clear plan of actions in the country and in the Parliament. I am here together with Rovana, Rovana Plumb will remain the president of the National Council, a person that I am convinced I will collaborate very well with,” Dragnea stated.

Victor Ponta has previously announced he is supporting Rovana Plumb as Liviu Dragnea got a suspended prison sentence for election fraud. (Adevarul)

President Klaus Iohannis Signs Controversial Parliamentary Elections Bill Into Law

President Klaus Iohannis has signed the controversial parliamentary elections bill into law despite a decision of the Constitutional Court.

According to the law, the future Parliament will have 466 MPs, compared to 588 previously, instead of 300, like Romanians voted at the referendum back in 2009. At the referendum, 77.78% of the electors asked for a parliament with a single legislative chamber and only 300 MPs. Thus, every 73,000 inhabitants will be represented by a deputy and every 168,000 people will be represented by a senator.  (Evenimentul Zilei)

Romania Extends Government Program “Heating 2006-2015” By 2020

The period for the implementation of governmental program ''Heating 2006-2015” will be extended until 2020, due to the necessary investments in the infrastructure of thermal power production, transport and distribution.

The decision was also based on the fact that, of the total sum of RON2.120 billion initially stipulated for financing the program, so far, approximately RON420 million were assigned. The remaining RON1.7 billion will be assigned for financing the program between 2015 and 2020. The normative act adopted by the government is responding to the requests addressed to the Ministry of Regional Development and Public Administration by the Municipality Association in Romania, Professional Association COGEN Romania (including heating producers and suppliers in 20 towns), as well as the Romanian Association for the Promotion of Energy Efficiency (ARPEE). (Evenimentul Zilei)

Government Unblocks RON5M For SMEs By Memorandum

The Romanian government approved, through a Memorandum, the unblocking of RON5 million for the development of the programs financed from the state budget for the support of the SMEs sector.

“The amount of RON5 million represents the fifth tranche unblocked in 2015, from the funds that will be distributed by the government for a six-month period, in tranches, for SMEs programs,” the government said.

The Ministry of Energy, SMEs, and Business Environment is implementing the strategy and governing program in the sectors of energy and energy resources, SMEs, cooperation and business environment, in accordance with the requirements of the market economy and for stimulating the initiative of economic operators. (Puterea)