The U.S. Embassy in Bucharest on Wednesday said it is pleased to recognize the Romanian Ministry of Economy signing two letters of request (LOR) for letters of offer and acceptance (LOA) to explore how the United States and Romania can enhance defense production capabilities.According to the embassy, the letters of request for the co-production of Abrams Tank ammunition and artillery ammunition and are an essential first step in developing Romania's domestic production capacity."Successful implementation of these types of co-production projects build capacity in the whole region and strengthen our bilateral strategic partnership. This co-production will secure the supply chain for NATO, the United States, and Romania, making America and our allies safer," U.S. charge d'affaires Michael Dickerson is quoted as saying in a press statement."Through these NATO-standard munitions co-production projects, we are increasing the strength of the Romanian defense industry. Romania and the United States share common values and principles. The implementation of the NATO European Center of Excellence for Munitions will strengthen Romania's position as a pillar of security and a provider of strategic capabilities in the region. Through this economic and military partnership with the United States, we will develop capabilities for production, testing, certification, and qualification,' according to Romania's Minister of Economy, Digital Transformation, Entrepreneurship and Tourism Bogdan Ivan.The LORs include potential co-production of both NATO-standard 155-millimeter artillery shells and for 120-millimeter NATO tank ammunition. These projects are supported by a USD 920 million foreign military financing loan from the U.S. Department of State announced in September 2024. (Photo: https://economie.gov.ro/)
President Nicusor Dan signed on Thursday the decree appointing Prime Minister Ilie Bolojan as interim Vice Prime Minister on the areas coordinated by Dragos Anastasiu, the Presidential Administration informed.On 27 July, Dragos Anastasiu announced he was stepping down from the vice prime minister office, mentioning that he could no longer accept "being denigrated and thus […]
Prime Minister Ilie Bolojan continued consultations on Thursday with representatives of the Association of Communes of Romania, telling them there is a strong chance to overcome the current difficult period if the approach of "responsibility toward public funds" is maintained."The reform of local public administration will be part of the second package of government measures […]
Financing the National Recovery and Resilience Plan (PNRR) projects will continue for those already initiated and will stop only in case investment has not begun, where not a single euro was spent for construction, Development minister Cseke Attila explained on Thursday. “PNRR will not stop, neither will financing investments which have already been initiated, […]
The Justice Ministry announced on Thursday having developed in cooperation with the Finance Ministry and the National Tax Administration Agency a set of proposals to amend the Insolvency Law, which will be included in the second reform package.Some of the amendments provide for a higher recovery rate of the taxes and fees owed by insolvent […]
Romania is in the antechamber of recession, with the risk that its economy will decline in the third or fourth quarter, especially amid an increase in taxes, a significant drop in sales and record inflation at European level, says business consultant Adrian Negrescu."We are currently in the antechamber of recession. It is a moment […]
The Ministry of Culture announced on Thursday that is set to adapt national legislation for enforcing the European Media Freedom Act (EMFA), which supports media pluralism, editorial responsibility, protects journalists from abusive surveillance and intimidation, and provides protection for sources.According to a Culture Ministry release, the implementation in Romania of Regulation (EU) 2024/1083 of the […]
