How can we have access to diversified funding sources? | SIVECO Romania

How can we have access to diversified funding sources?

Wednesday, November 9, 2011

Responses were given at the first meeting of the National Council for Competitiveness - CoNaCo


Bucharest, November 9, 2011 - Where a priority to invest? Why is Romania competitive business? Where is the Romanian economy on the Romanian market? What sources of funding we have available? These are questions that have received relevant responses from specialists of the National Council for Competitiveness (CoNaCo), the first public organization specializing in issues of competitiveness.


SIVECO Romania is a member of this organization by Irina Socol, chairman and CEO, along with other 60 representatives of the academic elite, private and public. The trilateral forum will develop "National Competitiveness Strategy of Romania 2012-2020" to recover the competitiveness gap with the rest of Romania European countries.


The first meeting was focused on macroeconomic stability and financial markets.


Speakers said that the low level of income affects the level of saving Romanians, as early financial literacy to develop alternative funding resources. Compared to an average saving of 40% of disposable income of Chinese, Romanians save only 10.3%, while the average salary in Romania amounts to 445 dollars per month, while in China it is almost a third small, $ 300. Moreover, Romania gross national income per capita is almost double that of the Chinese: $ 14,060 compared to $ 7,570 - said CoNaCo members.


Poor economic and financial culture resulted in a reduced interaction between population and the financial system, half of Romanian having any relationship with financial institutions. Insufficient use of the modern alternative funding resources made no Romanian entrepreneur or private equity funds do not sell their business to date using, for example, Bucharest Stock Exchange.


Oo Romania is relatively small link in a chain of interdependent economy, therefore can not ignore the European and international framework on macroeconomic stability. Euro area sovereign debt crisis will influence the international banking landscape in the coming years.


EU budget 2014-2020 will be based and innovative financial instruments such as bonds issued to finance projects (Project Bonds), guarantees and risk capital funds, loans from the EIB, Public-Private Partnerships (PPP) etc.. All this involves rapid construction of public infrastructure and strong financial institutions - was the conclusion of the first meeting of the National Council for Competitiveness.


Participation in this forum is open to all who want to participate with ideas and creative solutions to develop "National Competitiveness Strategy of Romania 2012-2020"


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