AcasăEurope NewsState Secretary Precup says 2022 was a record-year in initiating financial instruments...

State Secretary Precup says 2022 was a record-year in initiating financial instruments from Romania’s Government

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This year registered a record in terms of initiating financial instruments from the Government of Romania, and the draft law on the establishment of the Development Bank of Romania is a key one that could unlock some strategic investments for the country, Secretary of State with the Finance Ministry Mihai Calin Precup stated on Friday, according to Agerpres.

„Under the leadership of the Minister of Finance, Mr. Adrian Caciu, (…), these days, the draft law on the establishment of the Development Bank of Romania passed through the Government. It is a key project for Romania, a project that has been talked about for many years and I think such a project could unlock some strategic investments for Romania,” Mihai Calin Precup stated, at the 15th edition of the international conference called „Perspectives in Banking and Financial Law.”

In this context, he delivered a speech to the students, stating that, as long as we have strategic investment projects in Romania, we also have jobs with high added value.

The Secretary of State mentioned that the Ministry of Finance, together with the Ministry of European Funds want to stimulate and increase the entire ecosystem of private equity investments in Romania through the Fund of Recovery Funds.

Mihai Calin Precup stated that, at European level, the role of private equity funds is limited, and what is happening in Eastern Europe represents a little over 3pct of the European Union market. According to him, the investments made by the investment funds bring not only money, but also expertise, because they hire competent people.

He argues that Romania’s economy is currently dependent on the banking sector in terms of financing, and the stimulation of financial instruments both on behalf of the Government, but especially in partnership with the private sector, can lead to a diversification of the companies’ funding sources in the real economy .

He participated in the 15th edition of the „Perspective in Banking and Financial Law” international conference, organized by the Faculty of Law of the Bucharest University of Economic Studies together with the European Society for Banking and Financial Law – Romania, the he Association of Legal Advisers in the Financial and Banking System and the Romanian Society of Business Law.

The National News Agency AGERPRES is the media partner of the event.

Agerpres

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