Romania to Invest €1 Billion in Agricultural and Energy Sectors by 2027
Romania has announced an ambitious plan to invest €1 billion in its agricultural and energy sectors by 2027, aiming to bolster economic growth and sustainability. The investment, outlined by the Ministry of Agriculture and Rural Development, will focus on modernizing infrastructure, enhancing productivity, and promoting renewable energy projects.
Agriculture Minister Petre Daea emphasized the strategic importance of the agricultural sector, highlighting its role in ensuring food security and contributing to the national economy. "This investment is a critical step towards modernizing our agricultural practices, improving efficiency, and supporting our farmers," Daea stated. The funds will be allocated to various projects, including upgrading irrigation systems, developing high-tech farming solutions, and providing financial support to small and medium-sized enterprises (SMEs) in the agricultural sector.
In addition to agriculture, Romania is prioritizing investments in the energy sector, with a significant focus on renewable energy. Energy Minister Virgil Popescu announced plans to expand wind and solar energy projects, aiming to increase the country's renewable energy capacity. "Our goal is to reduce Romania's carbon footprint and ensure a sustainable energy future. This investment will help us achieve our renewable energy targets and contribute to the EU's Green Deal objectives," Popescu said.
The investment plan has garnered support from the European Union, which is committed to supporting member states in their efforts to transition to a green economy. The EU has pledged to provide financial assistance and technical expertise to help Romania implement its ambitious plans. European Commissioner for Agriculture, Janusz Wojciechowski, praised Romania's initiative, stating, "Romania's investment in agriculture and energy is a positive step towards achieving our collective goals of sustainability and economic growth."
Key industry players have also expressed optimism about the investment plan. Gabriel Stanciu, CEO of Romanian renewable energy company Renovatio, commented, "This investment will create significant opportunities for the renewable energy sector in Romania. We look forward to contributing to the development of new projects and helping Romania achieve its energy transition goals."
The €1 billion investment is expected to generate substantial economic benefits, including job creation and increased competitiveness in the agricultural and energy sectors.
