Message from the authorities: BURSA Newspaper - an important and necessary link between the business environment and authorities

Emilia Olescu
Miscellanea / 23 noiembrie 2023

Message from the authorities: BURSA Newspaper - an important and necessary link between the business environment and authorities

Versiunea în limba română

"BURSA Newspaper manages to bring important figures from the economic sector, on which the Romanian state relies, to its events," said Florin Spătaru, who conveyed the message from Prime Minister Ciolacu. Dan Drăgan: "Through the BURSA editorial group, we want to perpetuate and make heard the project calls we launch, as well as the energy strategies and policies we develop at the Ministry of Energy." Cristian Popa, NBR: "We are interested in the existence of a strong, developed economic press because the transmission mechanism of monetary policy functions based on you, on the correct, honest, and neutral dissemination of information."

Representatives of the most important companies in our economy, state officials, diplomats, bankers, investors gathered on Tuesday evening at the BURSA Gala in an atmosphere of high elegance. Exceptional merits of some entrepreneurs were awarded, balances were presented, messages from authorities were conveyed, and prominent names in Romanian music performed. The event was an opportunity for networking but also a moment of relaxation, during which the luckiest ones enjoyed being the winners drawn from the raffle organized by us.

In the opening of the speeches session, Florin Spătaru, State Counselor at the Prime Minister's Chancellery, conveyed a message from Prime Minister Marcel Ciolacu, congratulating BURSA newspaper and the representatives of the business community present in the room: "Congratulations to BURSA newspaper and to all of you who are here for the performance you demonstrate, for being a main pillar of the Romanian economy! It would be important to verify how much of the country's GDP is present in this room. BURSA newspaper manages to bring important figures from the economic sector on which the Romanian state relies. Romania is going through moments of transition. Last year we were discussing here, and I proposed a social contract. This year, I congratulate you for your performance, and BURSA newspaper will reward your performance! Besides the fiscal and other measures we took in 2023 to overcome these difficult times, the collaboration between the Romanian Government and the business community will continue. In 2023, we will have economic growth, and in 2024, we will continue to have economic growth, and Romania must invest in the business environment. The partnership between the Romanian state and the entrepreneurial sector must continue, and all these measures that will be promoted - the absorption of European funds, the use of the state budget, the allocation of a significant amount from the state budget in 2024 for investments - represent the foundation and guarantee that the Romanian state gives to the business environment. The Romanian Government will maintain the same channels of collaboration, communication, and solution identification with the business environment."

Additionally, Minister of Energy Sebastian Burduja conveyed his message through Mr. Dan Drădan, State Secretary in the ministry: "I consider it crucial to have full collaboration and cooperation, including with the BURSA editorial group, through which we aim to perpetuate and make heard the intentions, project calls we launch, as well as the energy strategies and policies we develop at the Ministry of Energy. I am pleased that today, alongside us, there are companies with a strong presence in the market. I am confident that all the efforts that the Ministry of Energy has made, is making, and will make in this market will lead to a sustainable price of electricity and natural gas, which will benefit companies engaged in economic activities.

Moreover, we must mention the sustainability and transformation aspect that the economic sector is undergoing - the conversion of old production capacities from fossil sources into new energy capacities based on renewable energy, and ensuring resilience of the national energy system by continuing the development programs for nuclear capacities. Strengthening the network, as well as ensuring the resilience and accessibility of new production capacities, are crucial, and all the measures and contracts provided by the Ministry of Energy, through the National Recovery and Resilience Plan (PNRR), through the Modernization Fund, are of significant value. Dan Drăgan emphasized that the value of funds allocated for some contracts currently being implemented exceeds 2.5 billion euros at this moment, and the approved schemes and calls being launched represent an additional 2 billion euros.

BURSA newspaper was also congratulated by a representative of the National Bank of Romania (NBR). Cristian Popa, a member of the Board of Directors of NBR, mentioned that the transmission mechanism of monetary policy operates based on a neutral and fair economic press: "Congratulations to BURSA newspaper for doing a job that is by no means easy but helps us. We are interested in the existence of a strong, developed economic press. We are directly interested in this because the transmission mechanism of monetary policy operates based on you, on the correct, honest, and neutral dissemination of information.

We don't live in an ivory tower; we've had difficult years marked by overlapping shocks, a year with high inflation that hasn't made things any easier. However, financial education matters a lot - both we and you contribute to the development of the capital market, not only the stock market but also the banking capital market. It is said that where it is well received, capital flows more easily, and you make sure that this flow is as smooth as possible, investors are well informed. We know that information helps people make the best decisions, and you contribute to a correct understanding of economic legitimacy. Building financial and banking culture is important, and we hope you continue on the same path! I have a quote for you that goes like this: "A market economy cannot exist without what we call a market culture' (Mugur Isărescu, 2023). I believe in that too - there is a need for correct and complete dissemination of information. You are the fourth power in the state - personally, I read you constantly, my colleagues read you constantly, we are concerned about the capital market, I invest in the stock exchange, we follow your lead, which has a critical contribution to the mechanisms of financial market functioning. We salute your professionalism, and the collaboration between the National Bank of Romania and you is intense."

The Bucharest Stock Exchange is very active in listing many SMEs, according to Petr Koblic, the President of the Federation of European Securities Exchanges (FESE) and the CEO of the Prague Stock Exchange. He congratulated both BURSA newspaper and our capital market: "I cannot fail to mention the largest transaction that took place this year at the BVB, one of the largest transactions in Europe in recent years - the IPO of Hidroelectrica. Congratulations to the BVB, the ministries, the representatives of the Central Depository, and the banks that decided to carry out this transaction on the local market. Such a large-scale transaction helps us, representatives of other small markets in Central and Eastern Europe, as it is an example that can be successfully done on the local market. Looking at the chart showing the price movement and transaction volume, we see an extraordinary success of the Hidroelectrica listing. I wish you many transactions like this in the future, and I hope you will soon enjoy the transition to the status of an emerging market."

Regarding our economic relations with other countries, Italy is Romania's second-largest trading partner, according to His Excellency Alfredo Durante Mangoni, the Ambassador of Italy to Bucharest, who mentioned: "My country relies on a very important share of exports, generating 35% of the national GDP. We have an extremely diversified, differentiated, innovative production system, and a flexible business model based on SMEs strongly integrated into production chains, and Romanian companies support our competitiveness. Italy has been a prominent presence in the Romanian market, on the economic scene, in recent decades. We are your country's second-largest trading partner, with bilateral exchanges of 20 billion euros. Over 23,000 Italian-capital companies are active in Romania. We are the fourth investor in Romania in terms of investment value, but we rank first in terms of the number of investments made. We also have a very well-integrated industrial and production chain. All these data show the confidence that Italian investors have had in your country."

In the financial market, Italian banks UniCredit and Intesa Sanpaolo have expanded their presence in Romania, which is evidence of confidence in economic prospects and the intention to support Romania's growth with appropriate financial instruments, he added. According to him, the Embassy of Italy in Bucharest actively supports Romania's growth and encourages Italian companies to take advantage of the opportunities offered by this country.

Elias Wexler, the president of the Romanian-American Chamber of Commerce, states that the main purpose of the entity he leads is to support and help Romanian companies conduct business in the United States: "We are the main voice for Romanian companies in the U.S., supporting them with all the necessary information, and also in the process of attracting capital, finding American partners for business development, and assisting them in distribution and marketing." The United States has been and remains an ideal place for business, with opportunities for Romanian companies, emphasizes the source, who concluded: "Success here not only helps on a personal level but also in the relationship created between Romania and the U.S. Even though the majority of businesses are those coming from the U.S. to Romania, I hope to see a reversal in this trend in the near future, with many Romanian companies coming to the U.S. I encourage this."

For a businessperson to be successful, it is necessary for them to have a sense of well-being, opines Cezarina Stamate, development director at Guinot Institute Romania: "When we do business and are in an entrepreneurial environment, our well-being is important. To perform well, we need to feel good in our own skin. To do this, we need to take care of ourselves. At the Guinot Institute, we develop a strong interpersonal relationship with our clients, who come from very high backgrounds, and we further support the development of entrepreneurship, of all kinds in Romania, by creating partnerships that support high performance in this beauty industry."

During the BURSA Gala, 25 companies were awarded for exceptional results obtained this year in various fields such as the capital market, energy, banks, transportation, tourism, sustainability, and real estate. At the end of the event, BURSA newspaper awarded substantial prizes, with the main prize being a four-night vacation in Lapland for two adults and a child, valued at over 6700 euros.

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