about us | newsletter | contact | archive | members area
Dan Copocean, Kimball Electronics
"I believe that the Romanian economy continues its development"»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Romania can become an emerging market in the following 12-18 months

Top representatives of the local asset management industry, which enjoyed its fastest growth last year since the economic crisis, believe that Romania must grab the opportunity it has right now, to become an emerging market in the following 12 to 18 months.

2014-06-17 14:39:35

According to International Financial Corporation, a member of World Bank Group, an emerging market is "a market which is growing both in size and in sophistication degree, as opposed to a small market, which is inactive and doesn't seem to change".

There are more positive signs that lead to this opportunity:
1. Romania regained its investment credit rating after six years at Standard&Poor
2. "We believe Romania will maintain steady economic growth, averaging 3 percent over 2014-2017", S&P analysts stated;
3. Romania has largest annual economic growth in the EU in the first quarter of 2014, with 3,8 per cent;
4. Romania is one of the very few countries maintaining a budget deficit lower than the EU standard of 3 per cent;

Dragos Neacsu, Chairman of the Romanian Association of Asset Managers (AAF) stated during the "Challenging Crossroads" Round Table, held in Bucharest, that the Romanian economy needs "public policies with immediate effects". "The time for action is now", that was the AAF President's message to the representatives of the business community and to the political decision makers, who joined the debate hosted by AAF.

Dragos Neacsu highlighted: "The domestic institutional investors make for 10 per cent of Romanian GDP and are fully invested into the way the country's public policies are financed, by owning 10 per cent of sovereign public debt. These investors exercise a positive pressure towards a diversified mix of financing the real economy, including the equity capital markets, where we collectively own 10 per cent of Romanian listed stocks free-float".

The cumulated assets managed by AAF members (investment funds) and by the pension funds are currently worth EUR 9.2 billion. The assets managed by Fondul Proprietatea amount to over EUR 3 billion. All in all, the total value of these investments represents about 10 per cent of the Romanian GDP.

Challenging Crossroads Round Table is the first initiative of AAF to put business decision makers and politicians together in a public debate. AAF strategic areas of action are to build solid and modern institutions and to improve the financial education degree of the Romanian citizens.

AAF is a member of the European Fund and Asset Management Association (EFAMA), which currently collectively represents 17 trillion Euro in assets under management, 1.5 times the GDP of the EU.

Hosted by AAF, the AGM provided an opportunity for EFAMA to engage with its national associations and corporate members. Following the renewed emphasis placed on the future of financial regulations in Europe in the wake of recent EU elections, this is a particularly pertinent time to provide an open forum for debate around key industry issues.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  1643 Views
Daily Info
Bonds of Globalworth will start trading on Bucharest Stock Exchange on July 31

Bucharest Stock Exchange (BVB) informs that the bonds of Globalworth will start trading on the main market on July 31, 2017, and are defined by the following: 5,500 bonds, nom...

OTP Bank Romania to take over Banca Romaneasca from National Bank of Greece

The National Bank of Greece signed an agreement with OTP Bank Romania on the sale of its equity holding of 99.28 per cent in Banca Romaneasca. The transaction involves the sha...

The healthcare system must be a priority, FIC says

Health is now a priority for Romanian authorities and the total spending on healthcare has grown significantly over the last four years (although it is still the lowest propor...

CET Govora reached 30 million RON profit in H1 2017

Heat and electricity producer CET Govora registered a net profit of 30.6 million RON in the first six months of 2017, compared to a net loss of five million RON in the same pe...

E van Wijk agrees new lease at P3 Bucharest park

Pan-European logistics property investor-developer P3 has signed a deal with Logistic E van Wijk, provider of integrated transport and logistics services, to lease 10,180 sqm ...

 
 
   
advertising

advertising

advertising

advertising

More on News
Over 19,000 business plans submitted for Start-Up Nation program

Start-Up Nation Government program attracted over 19,000 business plans and a new edition will take place next year, said Ilan Laufer, Minister for the Business Environment...

PM Sorin Grindeanu: 5.7 per cent economic growth - confirmation that the measures taken by the Government are the right

The 5.7 percent economic growth registered in the first quarter of 2017, as compared to the first quarter of 2016, an evolution which exceeds the expectations of analysts a...

President Iohannis to hold political consultation to designate future PM

Parliamentary parties are invited today to the Cotroceni Presidential Palace for consultations with President Klaus Iohannis over the designation of the future prime minist...

Sorin Grindeanu hails the support for CVM lifting before 2019

Prime Minister Sorin Grindeanu met at Victoria Palace with the European Commission President Jean-Claude Juncker. The meeting was also attended by the Public Finance Minist...

EIB lends one billion euro to Romania for transport infrastructure projects

The European Investment Bank (EIB) is lending one billion Euro to co-finance with European Structural and Investment Funds priority transport infrastructure projects totall...

New trading symbol for Patria Bank shares on Bucharest Stock Exchange

Patria Bank shares, a credit institution that operates on the Romanian banking sector, are traded under a new symbol on the Bucharest Stock Exchange (BVB) market, following...

Fondul Proprietatea urges President Iohannis not to promulgate the Ports Law

Fondul Proprietatea has sent a letter to President Klaus Iohannis outlining several reasons that constitute, in the Fund's view, a strong basis for the non-promulgation of ...