The Romanian government has updated the country's legislation on public-private partnerships in an effort to attract strategic investments. The new regulation introduces the Value for Money concept according to good international practice. This reflects the difference in cost estimation over the entire duration of the project, adjusted by the risk costs.

The bill also provides the necessary steps in assessing a project, namely how this should be classified in the public sector. If a project is classified on-budget, it will be managed by the central public administration only after approval by the Government through a Memorandum. In the case of local projects, these need to be approved by the Commission for authorization of public-private partnership contracts at the local level. This commission will be established through a Government Decision.

The Minister for Business Environment, Ilan Laufer, commented,

“The PPP law, which has been expected by the business community in Romania, ensures a stable and attractive legal framework, representing an important pillar for the successful completion ... of assumed investments projects.”

The legislation in question, formally named the Law on Public-Private Partnerships, but known also as The New PPP Law, came into force at the end of 2016.  It replaced the severely flawed previous Law on PPPs, often criticised for significant legislative inconsistencies. These are evident in that in its six years of existence, the Law failed to accommodate any public-private partnerships. Thus, development in legislature is key to the implementation of PPPs in Romania.