The recent performance of the Bucharest Stock Exchange (BVB) is supported not only by rising share prices but also by solid economic fundamentals and years of structural reforms, according to Alexandru Petrescu, President of the Financial Supervisory Authority (ASF).
Petrescu said the exchange’s growth reflects a combination of strong financial results from major listed companies, attractive dividend policies, a rising number of retail investors and improved market liquidity. Beyond these visible drivers, however, he emphasized that the Romanian capital market has undergone significant structural changes in recent years through the joint efforts of regulators, the stock exchange, intermediaries, issuers and investors.
According to the ASF President, the regulator has contributed by strengthening the supervisory and regulatory framework, streamlining market procedures, improving investor access and developing market infrastructure. He highlighted the authorization of Romania’s Central Counterparty (CCP) as one of the most important milestones in modernizing the market.
Petrescu also pointed to the National Strategy for the Development of the Capital Market 2023–2026, the first government-backed strategy of its kind, prepared with the support of the Organisation for Economic Co-operation and Development and in consultation with market participants. The strategy aims to broaden access to financing, attract new issuers and investors, boost liquidity, expand institutional investment, accelerate digitalization and strengthen corporate governance.
He said the implementation of these objectives, together with Romania’s alignment with OECD standards as part of its accession process, has helped create a capital market that is more transparent, accessible and credible. Measures to facilitate stock market listings, develop the bond market, streamline the authorization of collective investment schemes and reinforce corporate governance have improved conditions for both domestic and international investors.
“A strong capital market needs predictable rules, robust institutions, secure infrastructure and trust,” Petrescu said.
He added that the BVB’s recent performance demonstrates that consistent structural reforms are beginning to produce measurable results. Progress toward OECD standards has strengthened institutions, improved regulatory predictability and enhanced Romania’s attractiveness for long-term investment capital.
Looking ahead, Petrescu said Romania’s future accession to the OECD could create additional opportunities by further integrating the country into global investment flows.