Romanian Govt Does Away With Foreign Investments Agency

Romania’s Agency for Foreign Investments or ARIS was removed and its activity will be taken over by a special directorate within the Ministry for Small- and Medium-sized Enterprises, Commerce and Business Environment, government sources told MEDIAFAX Saturday.

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“On Friday, a memo notified ARIS of the government's decision to remove the agency and transfer its activity to a directorate within the Ministry for SMEs,” the quoted sources said.

ARIS was set up in 2002, has 23 employees and is specialized in technical assistance for foreign investments exceeding EUR1 million.

This year's budget the government approved for the agency amounted to EUR400,000.

Its president, Darius Mesca, was appointed on March 11, 2009.

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