about us | newsletter | contact | archive | members area
COSMIN COSTEA, DELOITTE DIGITAL
With a reasonable amount of money an insurer can start with a platform that gathers all »
  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  |  1606 Views
Daily Info
Sibiu and Timisoara, top priorities for investors in Romania

Sibiu and Timisoara are top priorities for investors who are interested to come to Romania, as revealed by the fifth edition of Cities of Tomorrow conference, organized by the...

Gas prices liberalization in Romania to start in April

The Minister of Energy announced that the prices for domestic gas will go through a liberalization process starting April 1, with no technical reasons to postpone it, as Minis...

Toyota recalls 2.9 million vehicles globally over airbags issues

Toyota Motor Corp said it was recalling a total of about 2.9 million vehicles in Japan, China, Oceania and other regions including its Corolla Axio sedan and RAV4 SUV crossove...

Romania to develop economic component of the strategic partnership with US

Prime Minister Sorin Grindeanu and the Cabinet members had a meeting with the members of the fifth annual economic mission in Romania of the American-Romanian Business Council...

Debate on digital economy at Cluj Innovation Days 2017

About 40 specialists in various domains of digital economy debate its future at Cluj Innovation Days 2017. For two days, on March 30 and 31, the regional forum will be the epi...

 
 
   
advertising

advertising

advertising

advertising

advertising

advertising

More on News
Energy Performance Contracting for public buildings

The Romanian Association for Promoting Energy Efficiency (ARPEE), established in 2012, has as overall scope the mobilization of its members’ resources and competences to ...

Ciolos: Progress in anti-corruption fight can no longer be wiped off through ordinances dedicated to politicians

The progress made in the fight against corruption can no longer be wiped out surreptitiously through emergency ordinances "dedicated to a handful of politicians," former Pr...

EU seals trade deal with Canada

The European Parliament voted in favour of the Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada, concluding the ratification process of this deal...

SRI and DNA have no protocol, says SRI Spokesman

Spokesman of the Romanian Intelligence Service (SRI) Ovidiu Marincea stated that the SRI does not have any protocol with the National Anticorruption Directorate (DNA), but ...

President Iohannis wants to address Parliament on 7 February

President Klaus Iohannis sent a letter to the Heads of the two Chambers of the Legislature, in which he reveals that he wants to address Parliament on 7 February, in respec...

Iohannis at Government meeting: I discussed with the PM; I am pleased with how you do your job

President Klaus Iohannis said on Wednesday he had, before the Government meeting, a "very applied" discussion with Prime Minister Sorin Grindeanu, and the head of state tol...

PM Grindeanu: We support our views on 2017 budget

The Government will support its views in respect to the 2017 budget draft in the Supreme Council for National Defence (CSAT) meeting on Tuesday, Prime Minister Sorin Grinde...