Inter-institutional working group for the implementation of the National Strategy for the Development of the Romanian Capital Market for the period 2023-2026

Bucharest, 20 June 2024 – The first meeting of the inter-institutional working group dedicated to the implementation of the National Strategy for the Development of the Romanian Capital Market for the period 2023-2026 took place today at the headquarters of the Financial Supervisory Authority (ASF).

The quarterly meetings of the inter-institutional working group present the progress made and the actions to be taken to achieve the specific objectives and discuss issues related to the implementation of the Strategy according to the responsibilities of each of the institutions/entities involved.

The meeting was attended by representatives of ASF, the Ministry of Finance, the Ministry of Economy, Entrepreneurship and Tourism, the Agency for Monitoring and Evaluation of the Performance of Public Enterprises, the Romanian Chamber of Commerce and Industry, the Bucharest Stock Exchange, the Central Depository and the Central Counterparty. Representatives of non-bank financial market associations also attended the first meeting of the working group.

The National Strategy for the Development of the Romanian Capital Market for the period 2023-2026 has been shaped around nine general objectives, which in turn are divided into several specific objectives. In order to implement the general and specific objectives of the Strategy, entities/institutions have been designated with responsibilities for their implementation and are required to report periodically on the status of the steps/actions taken/to be taken in order to achieve the objectives under their responsibility. Thus, in addition to the quarterly meeting of the inter-institutional working group, regular bilateral/trilateral meetings and discussions take place between the institutions and entities responsible for the achievement of a given objective.

The National Strategy for the Development of the Romanian Capital Market for the period 2023-2026 was prepared and subsequently adopted by Government Decision No 506/2023, based on the assessments and recommendations of the Organisation for Economic Co-operation and Development (OECD).

The Financial Supervisory Authority (ASF) reiterates its full commitment to the rigorous implementation of the objectives outlined in the National Strategy for the Development of the Romanian Capital Market for the period 2023 - 2026, the achievement of which is a priority in the process of Romania's accession to the OECD and also a very important pillar for the development and consolidation of the domestic capital market.

The Strategy creates the conditions for increased financing through this market, with positive effects on the development of the business environment and the national economy.