Romanian economy minister: Sovereign Development Fund, ready by May 15

Romania’s Sovereign Development and Investment Fund (FSDI) will likely go into public debate by May 15 and will have an initial capitalization of around RON 1.8-1.9 billion (EUR 397-419 million), said the Economy Minister Mihai Tudose in an interview for News.ro. The fund will include 25 to 30 state-owned profit-making companies, which are subordinate to the Ministries of Energy, Transport, Economics and Health. All the companies in the fund's portfolio will be listed on the stock exchange. The fund will be run in a dual system, with a supervisory board and a directorate, both of them chosen in accordance with the corporate governance law. Talks around the sovereign fund are in a final stage, added the minister. He hopes to send the project to European institutions too by May 15. The public debate will last for 30 days, during which a response from European institutions is also due. The sovereign fund is the special project of PSD leader Liviu Dragnea and has been included in the governing program. Fondul Proprietatea manager: Sovereign fund could generate value for Romania if properly executed editor@romania-insider.com