'What we expect from the new Government is to see an increased predictability of the business environment, to be a good manager, to solve the tax issue, to collect efficiently, to be transparent, to have a priority order of projects and to complete the already initiated projects. We want to see a better consultation process with all sides. We see that laws are amended through emergency ordinances. An increased legal stability is needed of those we carry out the dialogue with, too. They change too often,' Steven van Groningen told the newswire.
>br> 'Our message is predictability, priority and good management,' van Groningen underscored.
The British-Romanian Chamber of Commerce and the Foreign Investor's Council of Romania on Tuesday organize a breakfast briefing, in which CIS Chairman Steven van Groningen will talk about Romania's situation in 2012 and the forecasts for 2013.
A new agreement with the International Monetary Fund (IMF) is useful to Romania, as a funding source, but also as image on the foreign markets, Foreign Investors' Council (CIS) Chairman Steven van Groningen said today.
'A new agreement with the IMF can help Romania in terms of foreign credibility and can also help to get funds at lower costs. It is clear that Romania must borrow from the Fund. If it does not borrow from the IMF, there is the question where else could it get loans from,' Steven Van Groningen said, who participated in a conference organized by the British Chamber of Commerce in Romania.
'I believe there still is potential in Romania, but a long-term vision is needed, as there are other economic conditions,' van Groningen showed.
According to CIS Chairman, in the past, things moved fast concerning the foreign investments, because everyone saw there was potential, and now investors are not so convinced this potential exists.
Steven van Groningen believes that a restriction of the investment possibilities of privately administrated public pension funds (Pillar II) is not a good idea.
'My opinion is that restricting the possibility for these pension funds to invest in bonds is not a good decision,' van Groningen highlighted. I personally don't agree with this measure on limiting the investment possibilities,' the CIS Chairman also showed.
The representatives of the joint delegation of the International Monetary Fund, the European Commission and the World Bank have recently said in Bucharest that Romania would have to fulfill the existing commitments in order to be able to sign a new agreement, taking into account that, within the current programme, several structural reforms have not been completed according to schedule.
