Romania has to import capital instead of export it and continue economic privatisation to build modern capitalism, Bucharest Stock Exchange (BVB) General Manager Ludwik Sobolewski said Friday.
“A principle that the countries currently attempting to build modern capitalism, such as Romania, should follow is doing their best to avoid capital exportation. You may call me anti-Liberal and anti-global, but that is my belief. In countries like Romania, importing capital instead of exporting it is a condition for development,’ said Sobolewski.
He added that Romania should continue the privatisation of its national economy and in order to draw investors it should relax the conditions on the business environment.
‘Romania has to continue the privatisation of its economy. At the same time, it should relax the conditions on the business environment in order to draw investors, and it should regulate the financial sector intelligently. If Romania wanted to remain sovereign in its economy, it should allow pension funds to invest in investment funds, which in their turn could invest in small companies, perhaps private funds. Thus, Romania could exercise its sovereign role by defining its economic policy,’ said Sobolewski.