U.S. Chargé d’Affaires: For Romania the key word is ‘investment’


Proprietatea Fund showcases domestic companies to investors with over USD 700 bn assets under management during Analyst and Investor Days event.


More than 150 local and international institutional investors from the United States of America, United Kingdom, United Arab Emirates, Switzerland, Austria, Germany, Sweden, Poland, Russia, Slovenia, Bulgaria and Romania, with over USD 700 billion collectively in assets under management and analysts attend a packed three-day conference on November 19 – 21, at the Analyst and Investor Days, a landmark event for local and foreign institutional investors organized by Proprietatea Fund. According to a press release, the event also includes visits to portfolio headliner OMV Petrom and national salt mine Salrom.

The event also provides investors with the opportunity to interact directly with the top management of several major companies for the Romanian economy, such as Petrom, Salrom, Hidroelectrica, Romgaz, Nuclearelectrica, Enel, Electrica, Posta Romana, Conpet, BRD Groupe Societe Generale, Banca Transilvania and Constanta Port, from whom they will also receive comprehensive presentations. Furthermore, participants can get an in-depth understanding of the Romanian economy and the local capital market, given that several key stakeholders in the capital and energy markets, including the US Embassy to Romania, British Embassy to Romania, National Bank of Romania, World Bank, Financial Supervisory Authority, Fiscal Council, and Department for Energy will deliver presentations.

„(…) From capital market regulation improvement to its progress towards energy security, Romania continues to work on bettering the business climate. (…) Romania has made progress in restructuring its SOEs (ed. note <<state-owned enterprises>>). We look forward to seeing more progress over the coming year, as it works together with key international institutions,” U.S. Chargé d’Affaires Dean Thompson said in his speech attending the event. For Romania to face demographic challenges, according to US official, the key word is investment: investment in a public health system, investment of time, effort and commitment to create the stable, transparent and predictable business climate. “Besides education, no investment returns more to GDP than effective investment in justice programs. Contract enforcement, transparency and a level playing field, – these are the foundation of a good business and investment climate,” Thompson also remarks. Speaking of Romania’s future, our country’s youth needs the prospect of well-paying jobs and it should also look for ways to revitalize and encourage entrepreneurship.

“The Government of Romania must show that it views economic and social inclusion, anchored in the rule of law and transparent decision making, as the foundation for deepening democracy and building sustainable economic growth. Social and economic inclusion is necessary to capitalize on successful reforms – this is a critical link in continuing to improve the business climate and making any improvements permanent,” U.S. Chargé d’Affaires said.

“Short-term political expediency must not derail long-term reforms. Shortsighted economic and fiscal decision-making negatively impacts long-term economic ?development and sends the wrong signals to current and potential investors and partners. Rule of law, stability in business climate, and consultations with stakeholders are the bedrock on which to build a dynamic and resilient Romanian economy. Romania has the fortitude necessary to confront these challenges,” Thompson concluded.

In his turn, Greg Konieczny, Fund Manager of Proprietatea Fund, commented: “(…) This event is perfectly well timed for local and foreign investors in light of the upcoming secondary listing of Proprietatea Fund on the London Stock Exchange, as it provides them with a clear and accurate view of the fund and its portfolio companies ahead of the expected listing, which should take place in the first half of December. Finally, the government and the main capital market stakeholders have the opportunity to reassure investors about their commitment to the development of the capital market and to improving the implementation of corporate governance in SOEs.”

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