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Speaker Ciolacu: More could've been done for domestic capital 32 years after the Revolution

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Marcel Ciolacu

Speaker of the Chamber of Deputies Marcel Ciolacu said on Tuesday that in the 32 years after the December 1989 Revolution, more could have been done for the domestic capital, told Agerpres.

"We are 32 years after the Revolution. We are one of the countries that after 50 years of communism threw ourselves headlong and built this capitalism, sometimes wilder, sometimes dictated in certain areas. We are not the only state to walk down that path. (...) These are 32 years in which more could have been done, especially for the domestic capital. There are countries that have walked down the same path as Romania and have done more for their domestic capital than we managed to do in these 32 years," Ciolacu told a Romanian Capital Forum event.

He added that at this moment the Romanian capital represents "up to 20%".

"There are countries, such as Poland, that had a more consistent policy regarding domestic capital, they have exceeded 35%, but they also came up with a plan that did not take political parties into account. (...) We are on the threshold of overlapping crises, (...) the pandemic came, and for sure you were the most affected. There were also companies that had exceptional incomes, because they were from that area; that's why, sometimes, my speech and that of my colleagues regarding certain taxation for limited periods was interpreted as speech against multinationals. Totally wrong! It is normal for any country, especially a member state of the EU, to encourage foreign direct investment. This it has increased by more than 40%, but it is normal for the Romanian state, the government, the legislature, to create the same competition and the same type of approach regardless of where the capital comes from," said Ciolacu.

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