For the technology sector, the key stake in amending Emergency Ordinance no. 46/2022 is the creation of a screening mechanism that is differentiated, proportionate, and innovation-oriented.
Bucharest, 8th of January 2026 – TechAngels, Romania’s most experienced angel investor community, has submitted a position paper to the authorities regarding the amendment of Emergency Ordinance no. 46/2022, highlighting Romania’s opportunity to adopt a more agile and better-calibrated investment screening model than the current EU Member State average.
TechAngels supports the Government’s objective of improving the functioning of the investment screening mechanism, in full compatibility with Regulation (EU) 2019/452. At the same time, the organization believes that Romania can go further by building a model of “smart security” that protects the state’s strategic interests while actively encouraging investment in future technologies.
“Investors seek predictability, stability, and efficiency. Without firm deadlines and clear consequences, capital will not flow. Tacit approval is a tool of administrative discipline, not a relaxation of control,” stated Vasile Țiple, Member of the TechAngels Board.
In technology investments, time is a critical factor. Any uncertainty regarding the duration of the screening process can lead to lost financing or the relocation of investments to other jurisdictions. For this reason, TechAngels proposes:
- the introduction of tacit approval when statutory screening deadlines are exceeded;
- fast-track procedures for low-risk investors from the EU/NATO;
- pre-confirmation mechanisms that provide investors with clarity before the formal initiation of the procedure.
In TechAngels’ view, an effective screening mechanism must:
- clearly distinguish between civilian innovation and genuine strategic risk, through a Safe Harbor regime for technologies without dual-use or military applications;
- focus scrutiny on investments with real impact, such as those targeting critical infrastructure or strategic capabilities;
- deliver timely decisions, which are essential for startups and early-stage companies;
- provide legal predictability, including for intra-EU investments and transactions that do not confer strategic control;
- protect intellectual property and trade secrets through clear confidentiality rules and restricted access to sensitive information.
Another central concern raised by TechAngels is the very broad expansion of sectors deemed sensitive in the draft version of the ordinance. Extensive lists of technologies—such as artificial intelligence, robotics, nanotechnologies, or semiconductors—do not always draw a sufficiently clear distinction between civilian commercial use and applications with strategic potential.
In practice, this risks turning almost any tech startup into a “sensitive” case by definition, even when it develops commercial software, applied research, or products with no strategic relevance. According to TechAngels, such an approach dilutes the purpose of the screening mechanism and consumes administrative resources that should instead be focused on real risks.
“With well-calibrated rules, Romania has the chance to build a modern screening model that does not hinder innovation, but rather aligns national security with technological development,” explained Ana Maria Andronic, Member of the TechAngels Board.
The position submitted to the authorities proposes a coherent framework based on:
- differentiated screening for civilian technologies;
- interventions proportionate to actual risk;
- clarification of the notions of control and asset acquisitions;
- public consultation and advance notice for any expansion of sensitive sectors;
- effective protection of intellectual property.
Marius Istrate, Chairman of the TechAngels Board, emphasizes that “the discussion on amending Emergency Ordinance no. 46/2022 represents a strategic opportunity for Romania. By adopting a smart, differentiated, proportionate, and innovation-oriented security model, Romania can become one of the most attractive European destinations for high-tech capital.”
The association reaffirms its readiness to continue dialogue with the authorities in order to contribute to a legislative framework that supports technology investments and maintains Romania’s competitiveness within the European economy.
About TechAngels
TechAngels is an open group of private investors interested in supporting the development of technology startups in Romania and the region. The association currently has over 130 members. Its investors are entrepreneurs or C-level specialists from multinational companies, with extensive experience in Romania and internationally in business planning, product development, market entry, sales, marketing, and more.
As angel investors, TechAngels members provide mentorship and advisory support to selected startups. The TechAngels portfolio currently includes over 270 startups. Over the past 12 years, the group has invested approximately EUR 46 million in the local startup ecosystem. The full document outlining TechAngels’ vision for the next decade is available at www.techangels.ro.
Media contacts:
TechAngels: Irina Albu – irina.albu@techangels.ro
DC Communication: Cecilia Gheorghe – cecilia.gheorghe@dccom.ro