Manuel Costescu resigns from Government to join USR

Romania’s head of FDI agency Manuel Costescu resigns to join political party USR

Newsroom 13/10/2016 | 11:12

Former investment banker Manuel Costescu has announced his resignation as state secretary because he will run in the December 11 parliamentary election on the lists of the Union to Save Romania (USR) party, which was founded this summer by Nicusor Dan.

Costescu was appointed as head of Romania’s department for foreign investments this February. During his tenure, the government launched InvestRomania, a new platform designed to act as a one stop shop for investors looking to find out more about the country. He was appointed as state secretary in the Ciolos-led government in June 2016.

“I realized when I left the country in 1995 that I would want to get back. (…) With the same people you can’t have chance. You need new people to register a change for the good,” said the official in a press conference.

Read the 5 points through which Romania can attract FDI, according to Costescu

Costescu opens the USR’s list of candidates in the Diaspora circumscription. He has previously worked for JP Morgan in London, McKinsey in New York and for The Brattle Group, an energy consultancy.

He holds an MBA from the Sloan School of Management at the Massachusetts Institute of Technology, master’s degree from the Kennedy School of Government within Harvard University. He also holds a diploma in economy from the Brandeis University in Massachusetts.

Business Review published an interview with Costescu in June, in which the government official was saying that Romania is now a country of quality, not cheap labor.

PM Dacian Ciolos said on numerous occasions that that representatives of the Government wish to get into politics, they should resign first form their public role.