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Business Intelligence The Three Seas Initiative – A Brief Overview for Romanian Businesses

The Three Seas Initiative – A Brief Overview for Romanian Businesses

by AmCham Romania May 31, 2022

On May 26, 2022, AmCham was pleased to host members of our community for a discussion on the Three Seas Initiative and the Three Seas Investment Fund, featuring Corina VULPEȘ, Member of the Management Board, Three Seas Investment Fund and Dorin BADEA, Senior Investment Director, AMBER Infrastructure Group (Bucharest Office).

The online dialogue focused on opportunities for Romania under the Three Seas Initiative platform, in the infrastructure, energy and the digital sectors, as well as on financing opportunities for economic development projects through the Three Seas Investment Fund.   

ABOUT the Three Seas Initiative

The Three Seas Initiative is a politically inspired, but commercially driven platform which brings together the 12 EU member states in the region of the Adriatic, Baltic, and the Black seas: Bulgaria, Romania, Hungary, Croatia, Slovenia, Austria, Slovakia, the Czech Republic, Poland, Lithuania, Latvia, and Estonia, spanning 1,2 million km2 (approx. 30% of the EU territory) and totaling 111 million people (approx. 25% of the population of the EU).

The goal of the initiative is to promote transnational cooperation in the region and speed up the development of interconnectivity projects in the areas of infrastructure, energy, and digitization. Through the agreed priority projects, the participant countries aim to strengthen their transport and energy links, improve their digital capabilities, and collaborate for the economic development of the entire region. The current estimated infrastructure needs stand at USD 600 billion.

ABOUT the Three Seas Investment Fund

To finance some of the infrastructure projects, the participant countries agreed to set up, in 2018, a public-private entity, the Three Seas Investment Fund. The Fund became operational in 2019 and has since contributed to three investment projects in the transport, energy, and the ICT sectors, respectively.

ABOUT the Three Seas Summit and Business Forum

Each year, the participant countries organize a high-level summit and business forum, to assess the yearly progress on common priorities, set goals and drive the initiative forward. The Three Seas Summits put a strong significance on highlighting the European and transatlantic cooperation, reflected through the presence of representatives from countries outside the region, such as the United States of America and Germany, as well as representatives of the European Union and international organizations like the International Monetary Fund.

The 2021 Summit will be held in Riga, Latvia, between June 20 and 21, with Latvian President, Eglis Levits, announcing that Latvia plans to focus on seeking private capital to improve financing of the most important projects for this region of Europe.

With the United States of America being one the main political and economic supporters of the initiative, the AmChams in the region have a special focus on promoting business opportunities under the Three Seas Initiative for the local business environment. The AmChams in the region are a strong supporter of international economic and political cooperation under this platform and collaborate with other institutional partners for promoting development opportunities.

In this context, AmCham Romania cordially invites our members to consider participating to the 2022 Three Seas Business Forum (more information about the Forum, including the agenda is attached to this article).

For more information about the Business Forum, please do not hesitate to reach out to Manuel Cazac, Program Coordinator, at mcazac@amcham.ro.   

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