The Government drafts new rules for public investments' documentations

According to the government, the current technical-economical documentations for public investments, written in 2008, are inconsistent with the developing needs and are not "oriented towards the analysis of the opportunity and necessity of investment objectives", thus affecting the quality of the project and creating major difficulties in financing and implementation.

Some of the changes drafted in the law refer to: pre-feasibility study is not going to be mandatory for public investments worth more than 30 million RON, the feasibility study will include minimum 2 scenarios, and the project indicators will be split in 3 categories. Moreover, for these small investments, presenting the social and cultural impact, the estimates regarding work force through realizing the investment, the analysis of the request for goods and services, the economic analysis, the cost-efficiency analysis, will not be required anymore.

The authorities will not be able to issue "approvals out of principal" and nor will they be allowed to document the attribution procedure for approvals and authorizations that were only issued "out of principle."

Also, the government will drop the rigidity of indicators, specific to each investment objective (3 indicators): maximal indicators (total value with and without VAT), minimal indicators (performance/quality indicators), other indicators (adapted to the specific objective of investment).

Nonetheless, when new fiscal regulations affect the value of the investment, the state will modify it without any procedure being necessary.

by Mihaela Constantin