Romanian state secretary in charge of foreign investments joins young party to run in elections

Manuel Costescu, the state secretary responsible with foreign investment in the Romanian Government, has resigned to run in the parliamentary elections for Save Romania Union (USR), a newly formed anti-system party led by political and social activist Nicusor Dan. Costescu has run the Foreign Investments and Public-Private Partnership Department within the Economy Ministry since June 2016. A former JPMorgan banker in London, Manuel Costescu has managed to bring a fresh aproach in the way Romania promotes itself abroad as an investment destination in the few months he was part of the Government. Under his management, the department launched the first website in English with relevant information for foreign investors, the first Foreign Investor’s Guide, and the first video created to promote Romania as a business destination.

Costescu said that he decided to run for MP because he wants to help change things in Romania. “When I left the country, in 1995, I realized that I would want to come back. But the moment never seemed to be right. The right moment is translated in numbers: 74% of those interviewed by the League of Romanian Students Abroad say they don’t want to return home due to the governmental and political environment. Change can’t be made with the same people. New people are needed for things to change for the better,” Costescu explained in a press conference, according to Mediafax. Manuel Costescu, who is originally from Sibiu, has studied abroad at Brandeis University, Harvard University - Kennedy School of Government, and MIT – Sloan School of Management. He worked at McKinsey in New York and JPMorgan in London. He will be first on USR’s list of candidates for the Chamber of Deputies in the electoral college that represents the Romanians living abroad. USR's list of candidates for the Senate to represent the diaspora will be opened by Mihail Radu, a Romanian entrepreneur living in Paris who worked for Orange and Motorola and now manages a French public utility foundation. Nicusor Dan launched this party after his Save Bucharest Union (USB) came in second at the local elections in Bucharest in June this year, surpassing the National Liberal Party (PNL). He also came second in the race for Bucharest mayor while Frenchwoman Clotilde Armand, who also ran for USB, was close to winning the elections in Bucharest’s District 1. Nicusor Dan decided to join forces with other independent movements in Romania and form the Save Romania Union (USR).