Remus Vulpescu, the Ministry of Public Finance: "2013, the year of the reform of the stock market"

For our stock market, this year was one of reform, said Remus Vulpescu, the chief of cabinet of the Minister of Public Finance. He explained: "The Financial Oversight Authority started off in force, bringing safety, effectiveness and vision to the oversight and regulation. The government successfully continued the structural reform through IPOs in Transgaz, Nuclearelectrica and Romgaz. The National Bank has successfully gotten involved in transposing the European regulations concerning the settlement mechanisms. The BSE has elected a CEO that can bring a breath of fresh air and a bonus of confidence from the global markets.

Major investment banks and major international brokerage firms have begun paying attention to Romania. By the end of the year we will also see the first bonds issue from a state owned company, Transelectrica".

The stock market needs to fulfill its role in the economy and to provide issuers with financing solutions for the medium and long term, and sufficient diversification and attractive gains to investors, the official of the Ministry of Public Finance (MFP) said. "The market has to provide simple and cheap procedures for the entry, circulation and the exit of equity. The settlement must be performed at European standards. The Central Depository has to evolve as well", Remus Vulpescu warns.

The practices of corporate governance with the issuers must become obvious, as equity has its own rules, which transcend politics and geography, according to him. "I wish for Romania to become a star of the equity markets in the coming years", the chief of cabinet of the Ministry of Finance concluded.