Romania has capital, resources, savings that can be channelled into investment, and access to European funds. However, economic development also requires another kind of capital: trust between the state and the business community, and between institutions and citizens, Prime Minister Luca Niculescu said.
The head of government attended the CONCORDIA Summit 2026, entitled 'How to Mobilise Romania's Capital', organised by the Concordia Employers' Confederation.
'Romania has capital, savings that can be mobilised for investment, access to European funds, resources, skilled people and companies that compete successfully in international markets. But we need to rebuild another form of capital, without which all the others are much harder to put to work: trust. Trust between the state and the business community, between institutions and citizens, between those who make decisions and those who live with their consequences, and among ourselves, as Romanians. Trust cannot be printed or established through an emergency ordinance or a government decision. It is hard to earn and complicated to build, but it can be lost very quickly - sometimes overnight, or even in a single day when an ordinance or government decision appears in the Official Journal,' Luca Niculescu said.
The Prime Minister highlighted that, over the past 20 years, the private sector has shouldered a large part of Romania's economic development.
'You have weathered political and financial crises, the pandemic, energy shocks and inflation. You have had to put up with enough changes - or rather, changes to the rules - coming from us, the state. We must acknowledge this honestly. And yet you have continued to invest, hire and build. Romania today is profoundly different from the country it was two decades ago, although, despite the extraordinary development it has experienced, many gaps remain that we need to work to narrow. But this transformation is not the achievement of a single government, a single institution or even a single generation, because generations begin to change over the course of 20 years. It is the result of a collective effort,' Niculescu said.
The Prime Minister argued that the state's role is to create the conditions for economic development and avoid hindering private initiative, stressing that this is also one of the fundamental objectives of his government. Niculescu outlined three priorities through which the government aims to improve its relationship with the business community.
'First, predictability. Investment requires clear rules and a time horizon that allows companies to plan their activities. Second, a state that keeps pace with the economy. Digitalisation, simpler procedures and administrative efficiency cannot remain objectives that we merely talk about and then postpone; they are essential conditions for economic competitiveness. Third, perhaps, discipline at home, because we cannot demand responsibility and efficiency from the private sector without applying those same standards to the management of public funds and the functioning of our institutions. These are our responsibilities as the state, not yours as entrepreneurs,' Niculescu explained.
The head of government also outlined the state's expectations of the business community.
'We expect you to continue investing in Romania, to be ambitious and have a long-term vision. We expect you to innovate, increase productivity and build companies capable of competing globally. We expect you to invest in people, education, skills development and stable, well-paid jobs. We also expect fair competition, integrity and responsibility towards the communities in which you operate,' Niculescu said.
In conclusion, Luca Niculescu said Romania must move to a new stage of economic development amid an international environment characterised by increasingly fierce competition and complex challenges.
'I want to conclude with just one word, a word we use so often that it sometimes seems to have lost its meaning, and we forget how powerful and important it is: together. Together, because we are all in the same boat. We may have different responsibilities, but we must share a common direction. Romania is not built against anyone, nor by some against others or by some in place of others. Romania is built together, and this is the partnership I want to propose to you,' Niculescu said.
