Romanian authorities plan to use as inspiration the development strategy of the conservative government in Warsaw, the Polish daily Rzeczpospolita wrote yesterday, reports local Agerpres.

Romanian authorities are interested in the regulations that simplify the start of a business, as well as in a program supporting innovation. The country also plans to set up a sovereign investment fund, following the model of the Polish Development Fund (PFR). PFR director Pawel Borys has joined a team of specialists to advise the Romanian Government on the creation of the investment fund.

The Romanian economy is facing the same problems as Poland even if it starts from an even lower level, Borys said. Many millions of Romanians are working abroad, a situation that is similar to Poland’s.

The main competitive advantage of the Romanian economy is cheap labor whereas the level of innovation is low, he added.

editor@romania-insider.com