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Tuesday, October 27, 2020 
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Public statements regarding the historic moment of Emerging Romania

9/21/2020

  • Romania’s inclusion in the Emerging Market indices, as of September 21st, 2020, by the global index provider FTSE Russell is a historic moment for the local stock exchange, reverberating strong echoes in the political, institutional, and business environments.

 

The promotion of Romania to the Emerging Market status after 25 years from the re-establishment of the local stock exchange, a fundamental institution of the Romanian capital market, represents an unprecedented success. High-profile officials from key political, institutional, and business environments have greeted the success of this common effort, which led to the inclusion of the Romanian capital market, starting from September 21st, 2020, in the Emerging Markets indices, according to the classification of the global index provider FTSE Russell.

The Bucharest Stock Exchange (BVB) presents some of the key messages, dedicated to the promotion to the new status, that were presented during the ceremony hosted at BVB’s headquarters, in addition to the press release regarding the historic moment of Romania’s upgrade to EM that can be accessed here.

Ludovic Orban, Prime Minister of Romania:

"I am glad to be here today at a favorable time for the evolution of the Romanian economy. There can be no capitalism without capital and without a capital market. The fact that Romania is promoted to the status of Secondary Emerging Market shows a positive evolution of the Bucharest Stock Exchange. I congratulate those who run the stock exchange, who had an activity in a not so friendly environment, and who brought us to this favorable result, and I guarantee them that they can rely on the cooperation with the Government, for the benefit of the capital market development."

 

Cosmin Marinescu, Presidential Advisor, the message of the President of Romania, HE Klaus Iohannis:

"I congratulate the Bucharest Stock Exchange for the effort made in promoting Romania to the status of Emerging Market. It is not only a historic performance in itself but also a confirmation of the development potential that our economy has. I hope that this new status will be translated into an increase in the market capitalization so that our country will become an important player in the financial markets in the region, as these markets are becoming increasingly dynamic and competitive. We all want to see more Romanian capital going public on the stock exchange and more and more companies using the capital market to finance their investment projects."

 

Florin Citu, Public Finance Minister:  

"The promotion of Romania in the FTSE Russell Emerging Markets indices is the kind of news that could not more suitable for these moments when we see strategic changes all over the world. It’s a historic moment for the stock exchange, one that is the equivalent of Romania’s accession to the European Union. I also hope that we will be included in emerging market indices of the other relevant global agency (MSCI) as soon as possible, and I will support this approach."

 

Nicu Marcu, President ASF (Financial Supervisory Authority):

"I welcome the upgrade of the Romanian stock exchange to the emerging market status, a well-deserved recognition of the BVB role and potential. We are marking now not only this recognition, but especially the inception of new, tangible perspectives for the development of the Romanian economy."

 

Cristian Popa, Board Member BNR (National Bank of Romania):

"The National Bank of Romania and the Bucharest Stock Exchange share a history together, a common mission that defines the DNA of each institution, and a future that I hope will have in store for us further achievements such as the one we are celebrating today. The promotion to the Emerging Market status will benefit the local economy and will contribute to the wellbeing of us all in the long term."

 

Ivan Vrhel, CEO Citibank Romania:

"The consistent cooperation between market participants, authorities and industry associations, which Citi has been honoured to be part of over the past years, has led to this historic milestone in the development of the local capital market. Romania’s upgrade to the secondary emerging market status demonstrates the progress made by the local market in terms of increasing the attractiveness and the accessibility of the market for both local and global investors. Citi remains committed to being part of this ecosystem, to further put our global expertise to work and advance the reforms of the market, so that we can see even more sizeable global investments supporting Romania’s real economy."

 

Mark Davis, Regional Director for Romania and Bulgaria, EBRD:

"The EBRD heartily congratulates Romania on its advancement to the emerging market status. It is an important achievement and now it is equally important to keep the momentum: finalise and start implementing the new capital markets strategy, encourage IPOs of private companies and state-owned enterprises, step up ESG-focused efforts by the Bucharest Stock Exchange and make new firm steps towards the MSCI EM status. The EBRD is proud of its role in the development of Romania’s capital markets and will continue providing investment, technical advice and support for reform to help the country achieve its ambitions."

 

Cristian Nacu, Senior Country Officer IFC:  

"Supporting the Bucharest Stock Exchange has been a priority for IFC. I am very glad that FTSE Russell, the leading global index provider, confirmed that Romania will be included in the FTSE Russell Emerging Market indices. We see it as one of the most encouraging events in Romania’s business environment in the last years. The market reclassification from frontier market to emerging market can help attract institutional and other international investors. And attracting institutional funds could, in principle, lead to more long-term investors and less speculative capital flows, with significant benefits for the future development of the Romanian market."