The Foreign Economic Council (Dundorfian: Außenwirtschaftsrat) was created by President Theodoric Augustus von Petrov as a means to control foreign investments of the Dorvish Republic, it was placed directly underneath the Main Office of the President of the Dorvish Republic with shared control of the Dorvish Ministry of Economic Cooperation and Development and the Ministry of Trade and Industry. The Foreign Economic Council was co-chaired by State Secretaries of both ministries with each of them carrying the title of General-Director. Underneath President Thorismund von Petrov is was decided that the Foreign Economic Council would come underneath direct control of the President and a new State Secretary of the Foreign Economic Council, entitled General-Director, with cooperation from the Ministry of Economic Cooperation and Development and Trade and Industry.
The Foreign Economic Council controls the Foreign Capital Fund (Dundorfian: Ausländische Kapitalfonds) which is the sovereign wealth fund of the Dorvish state. The Foreign Economic Council still brings together the Ministry of Economic Cooperation and Development and the Ministry of Trade and Industry by means of various committees that are tasked with dealing with trade deals, technical cooperations a well as overall international economic affairs. The Foreign Capital Fund is not an entity per se but does have any sort distinct hierarchy or structure outside of the Foreign Economic Council, it serves as a sort of "bank".
As of December 4045 the Foreign Capital Fund is valued at 969,906,157,147 DDO.
The Foreign Economic Council came into existance when President Theodoric Augustus von Petrov began to take a greater interest in long-range investments of the Dorvish state, underneath recommendation of the Ministry of Economic Cooperation and Development and the Ministry of Trade and Industry President von Petrov announced the Foreign Economic Council. At its creation the FEC was tasked with handling all foreign trade deals as a combination of the two ministries responsible for it, it slowly evolved into its current state when President von Petrov announced that it would be responsible for the Foreign Capital Fund, the new sovereign wealth fund of the Dorvish state. The FEC's first foray into investment was to Talmoria when it was contacted by the Dorvish State Railways to invest helping it build a large amount of railway infrastructure in Talmoria. The decision was approved after a 1b investment into the venture, the venture was financially managed by the Foreign Economic Council setting up the Dorvish-Southern Dovani Bank which financed the Dorvish State Railways operations and eventually sold portions of it to the Talmorian government. Starting in 3900 the Dorvish-Southern Dovani Bank began posting profits of roughly 1.2b DDO for the Dorvish and have continued to post similar profits as of recently.
The FEC entered its next era when President Thorismund von Petrov announced that the FEC would become a separate entity underneath the President of the Dorvish Republic, it would be managed by an appointed State Secretary of the Foreign Economic Council who would be entitled General-Director. The next major investment for the FEC and the FCF was announced by President Thorismund von Petrov and State Chancellor Safrax von Auspitz-Topol when they announced a direct 100b DDO investment into Hutori after Hutorian Chancellor James Murphy's visit. Economist of the FEC announce that they forcasted roughly a return of 300b DOO by 4032 when the return on investment will be truly seen.
General-Director Visimar von Desidier, relative of Dorvish Foreign Minister Hilderic von Desidier, announced that the FEC is floating the idea of a 100b DDO (18.290b LOD) investment in the Eastern Development Organization pending approval by the organization. In December 4022 the investment was approved by the EDO and split between the General Fund (which grants low interest grants and loans) and the Loan Fund (which gives outright loans) and garnered the FEC 42% controlling interest in the organization.
The FEC continued to manage Dorvish holdings and in 4045 underneath new Minister of Finance Sebastian Brestrich the Dorvish government granted its second largest surplus yet of 191b DDO to the FEC which, combined with the ROI from the Hutorian investment which came later than expected and the yearly ROI from the Talmorian investment, brought the Foreign Capital Fund to 969b DDO, nearly 1 trillion DDO. Minister of Finance Brestrich weighed the options of creating a portion of the SWF into LOD in order to backup the Dorvish currency or using the Artanian Mark (ART) as the reserve currency.
Organization and structureEdit
- Main Office of the General-Director of the Foreign Economic Council
- Office of Holdings Management and Operations
- Dorvish-Southern Dovani Bank (Dundorfian: Dorvisch-Süddovanische Bank - 55% FEC, 45% Talmorian government)
- Estimated yearly ROI: 1.2b DDO
- Hutori Capital Investment (100b DDO investment into Hutori)
- Estimated lump sum ROI: 300b DDO in 4032
- Eastern Development Organization Investment (100b DDO investment into the EDO)
- 9.145b DDO in General Fund (Low interest loans and grants) and 9.145b DDO in Loan Fund (Outright loans and grants)
- ↑ Tracker for the Foreign Economic Council/Foreign Capital Fund - http://classic.particracy.net/viewbill.php?billid=457761
- ↑ http://forum.particracy.net/viewtopic.php?f=17&t=353&start=340#p94514 - Dorvish State Railways eye Talmoria.
- ↑ http://forum.particracy.net/viewtopic.php?f=17&t=353&start=340#p94530 - Dorvish State Railways gets OK from Talmoria.
- ↑ http://forum.particracy.net/viewtopic.php?f=17&t=353&start=370#p99644 - Minister of Economic Cooperation and Development announces 100b DDO Hutori Investment
- ↑ http://forum.particracy.net/viewtopic.php?p=99732#p99732 - FEC 100b DDO investment into EDO