The privatization success rate in Romania was under 25% in the last 25 years, when 7,726 state companies were sold and over 2 million jobs lost, says the president of the National Association of Entrepreneurs, Cristina Chiriac. “In 1989 the private sector in Romania did not exist. Since 1990, many privatization programs have been initiated. 7,726 companies were privatized, and less than 25% of those companies still exist. The social effect of the phenomenon is the loss of 2 million jobs,” Cristina Chiriac explained at a conference on the impact of the Fiscal Code on small and medium companies. She pointed out that data come from an analysis of the association made over 1990-2014. In that context, small and medium companies should take over this social responsibility to absorb the people who lost their jobs from public institutions, but unfortunately that sector is neglected by authorities. “That sector is always left behind,” Chiriac said. The president of Brokers’ Association in Romania, Dan Paul, also spoke about privatization. He said that the failure of privatizations in Romania is explained by the form chosen by the state - direct sale, not by means of the stock market, which is a more transparent and safer process, both for the state and for investors. The state avoids this privatization means because “certain people still consider bribery.” He pointed out that privatizations vis stock market eliminate any doubt about the process, companies become transparent, money leakage is avoided, the state correctly gets taxes. “In order to solve come of those problems we should have a government with fewer but better paid ministers,” said the brokers’ representative. However he admits that Bucharest Exchange has a problem about the low level of transaction, and needs to attract investors, including entrepreneurs from small and medium companies. “I cannot offer any guarantees for 2016. We are trying to attract more private investors. There are Romanian industrialists who started developing their businesses and use the stock market as financing alternative,” Dan Paul said.
The 2025 edition of the year’s first major film fest in Europe (and one of the biggest worldwide), the Berlin International Film Festival, took place between 13 and 23 February. My notes come with a bit of delay, as I was also hit by the festival flu that got so many of us sniffling and […]
In the absence of current negative influences, Romania’s economy could have an annual growth potential of 3-4%. Political instability and global geopolitical risks are dampening growth. Economic growth in 2024 was driven by wage increases and accelerating consumption, satisfied however largely through imports. Due to a decline in domestic economic competitiveness, net exports contributed negatively […]
The Bucharest Stock Exchange (BVB) announced on Thursday, March 13, the launch of a new financial education section on the BVB Research Hub platform, dedicated to retail investors. The capital market operator said that it started this project out of the need to increase the level of financial education and promote the investment culture. It […]
The Romanian governing coalition's presidential candidate, Crin Antonescu, announced on Thursday, March 13, that he is launching a podcast designed to popularize his candidacy before the May elections. Antonescu, who is backed by the alliance made up of the Liberals (PNL), Social Democrats (PSD), the Democratic Alliance of Hungarians (UDMR), and the minorities, stated that he will […]
Some 4,500 teachers will learn about rights and responsibilities online, accessibility, inclusion, online well-being, and ethics as part of Incubatorul Civic Digital (ICD - The Civic Digital Incubator), a digital citizenship and democratic culture project implemented by Institutul Intercultural Timișoara, Asociația TechSoup and Școala de Valori. The project, which offers free training, is aimed at […]
Mihaela Murariu, Attorney at Law at Grecu Partners Business Law Firm, analyzes the impact of Artificial Intelligence on personal data protection. Artificial intelligence (AI) has become a ubiquitous technology, used in more and more fields, from marketing and healthcare to recruitment and financial services. However, the widespread use of AI raises numerous questions about privacy […]
