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.
Romanian gas producer Romgaz (BVB: SNG) has filed an action with the European Court of Justice against the European Commission, requesting the annulment of certain regulations that impose CO2 storage quotas on oil and gas companies. The company considers the quotas disproportionate. It is the first time that Romgaz has initiated a direct action against […]
Bucharest residents can donate clothes in good condition, non-perishable food, and toys for the families affected by the explosion that left 3 dead and many others injured, and nearly collapsed the apartment building in District 5 on Friday, October 17. "Following the devastating explosion in District 5, entire families have been left without housing, and […]
RoPower Nuclear, the developer of the SMR (small modular reactor) project in Doiceşti, Romania, announced the signing of a contract with Studsvik Scandpower, one of the global leaders in software dedicated to nuclear fuel analysis, on Friday, October 17. The president of the Swedish group emphasized that Romania is setting an important precedent for the […]
Energy regulator ANRE has launched an investigation into whether the gas distributor followed proper safety procedures before the powerful explosion that killed three people and injured others at an apartment building in Bucharest’s Rahova district on Friday morning, October 17. According to
In the first half of 2025, Romania ranked 52nd worldwide among the countries most frequently affected by cyber activities, according to the new Microsoft Digital Defense Report. The sixth annual report, covering trends from July 2024 to June 2025, emphasizes that traditional security measures are no longer sufficient. Modern defenses and strong collaboration between industries […]
Via Transilvanica, the long-distance trail that traverses Romania’s cultural, historical, and natural landscapes, has been awarded silver in the “Peace, understanding and inclusion” category at the 2025 Europe Responsible Tourism Awards. The initiative is organized by the International Centre for Responsible Tourism Global (ICRT Global). The award ceremony took place at the Press Club Brussels […]
