Nine general objectives defined
On May 24, 2023, the Romanian government adopted a draft of the Government Decision regarding the National Strategy for the Development of the Romanian Capital Market for 2023 – 2026.
As part of the project “National Strategy for the capital market”, in which the consultancy was provided by the Organization for Cooperation and Development Economic (OECD) and financed by the European Commission, the last stage consists of the elaboration of the National Strategy of the Romanian capital market for the period 2023 – 2026.
The strategy was outlined around nine general objectives. To begin with, it is crucial to improve the conditions for listing on the capital market while increasing liquidity on the secondary market and supporting the development and growth of the SME market. Additionally, savings among individual investors as well as increasing participation of individual investors and the business environment in the capital market need to be promoted. Among the objectives, there is also the growth of the role of institutional investors. Facilitating long-term financing through market mechanisms is another stated objective. Besides, it is necessary to support digitization and financial innovation and to support the development of the local private capital and venture capital market as well. As a final objective, green investments need to be stimulated.
The deadline for the implementation of all general and specific objectives is December 31, 2026.
In the long term, the development of the local capital market can make a large contribution to increasing well-being and the economy in general, particularly by increasing and diversifying sources of finance as an alternative to the banking sector.
The strategy for the development of the capital market 2023 – 2026 aims to implement some point improvements, to increase the attractiveness of the local market, by developing the infrastructure and operating parameters so that progress can be quantified by a steady increase in capitalization, number of issuers, liquidity and free float of listed companies, categories of traded instruments, simultaneously with the completion of securities lending operations and with the relaunch of the derivatives market, frequently used to cover the risks of market.
The Strategy also aims to increase the number of active retail investors as well as diversification, respectively attracting new institutional investors.
