Romania
SEE Security Monitor: Romania
After EU accession, Romania will face a tough competition that will affect portfolio investments and direct foreign investments as well, declared Geoffrey Mazullo, director of the Partners for Financial Stability Program, ACT Media news agency reports.
Mazullo said that the developments regarding the harmonization of the legislative framework and the adoption of good practices and international standards are encouraging, but underscored that Romania should be aware that the world would significantly change after accession and strengthen domestic economy and seek ways to attract foreign investors.
Mazullo mentioned that in the EU, sectors like energy or financial markets witness a consolidation process and highlighted the importance of the answer found by the Romanian companies to such challenges.
It all depends on them whether they will be acquired for low prices or if they will be able to protect their interests and grow into strong partners of other EU major players, said Geoffrey Mazullo.
PFS is a program of the East-West Management Institute co-financed by USAID with the purpose of speeding up reform and developing the financial sector in Central, Eastern and Southeastern Europe for the faster integration of the states in the region with the EU and the international financial environment.
The PFS program addresses various activities of the financial sector: accountancy, audit, bank supervision, capital markets, corporative governance, insurance, the reform of the pensions system, the prevention of money laundering.
Source: www.seeurope.net / ACT Media News Agency