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Scarce investment is the great suffering of Romania, and although the country's officials want to set up a fund to invest, I feel like things are not going that way, Adrian Vasilescu, strategy consultant with the National Bank of Romania (BNR), told a conference on Monday organised by Bursa newspaper. "If we, at this moment in this country, had a great deal of suffering, that would be because of a scarcity of investment. I think any institution dealing with investment is welcome to this country. I am convinced that for Romania at this moment to go forward and design a sustainable development model that meets the needs of this country needs, three things are required: wise laws, powerful and efficient institutions, and highly performing teams," said Vasilescu.
He voiced regret that in Romania there is not much of the three things that are essential for sustainable development. "Starting from this triad of laws, institutions and teams, (...) I read once in an older novel that when coffee was not made by devices, a customer in a café told the owner of the place: "This is good coffee you are making here; I do not know your secrets." To which he said: "It's simple: coffee, water and sugar. What do you mean by secret?" The customer remarked: "But the atmosphere in the pub, the way it is served, the quality, the foam, all of this is part of a combination of the three elements - coffee, water and sugar - that together give a very good coffee with foam to add." It would be very good if this Sovereign Investment Fund of Romania would be the foam of the natural coffee that we want and which we cherish. But for that to be the foam, the cream, there is much to be done. We could we do? A fund to invest. I've got a feeling that they are not headed that way. It's just my impression," said Vasilescu.
He also said that it is the investment that multiplies the money. "Such a fund, in my view, has to do two important things: to raise money and then invest it in order to multiply it, then to raise money back to increase their investment fund and to invest in important things for this country, which yearns for investment. I think that is the goal and I cannot further my judgment because it has not been clear from the Government how they want to do it. They want to make an investment fund, but what next?," added Vasilescu.
The Bursa Press Group organised the 6th edition of a conference on the future of the Romanian capital market that discussed the latest developments in promoting the Bucharest Stock Exchange to an emerging market, and the alternative investment fund law.
