Bucharest, May 8, 2014
The Foreign Investors Council - FIC debated the key principles which the new Romanian Energy Strategy should lay down during a roundtable organized on May 7, 2014 in the presence of Razvan Nicolescu, Delegate Minister for Energy.
The event’s special guest, Razvan Nicolescu, Delegate Minister for Energy, and Eric Stab, Vice-President of the FIC Board and Chairman of the Energy Task Force, discussed the development status of the new Romanian Energy Strategy and highlighted the main principles underpinning it.
Eric Stab underlined that “the preparation of a new Energy Strategy is a long awaited initiative that will contribute to giving guidance to all stakeholders in the energy sector and hopefully help attract much needed investments.”
The participants to the round table agreed that the new Energy Strategy ought to provide clarity, stability and predictability to the market players and all other stakeholders in order to attract the necessary investments in the Romanian energy sector and to maintain the long term competitiveness of the economy.
The proposals submitted by the Energy Task Force of the Foreign Investors Council to Minister Nicolescu highlighted that:
- Romania needs significant investments in the entire value chain of the energy sector (development of new energy sources, electricity production, transmission, distribution and storage of energy, interconnections etc) that are increasingly difficult to access in a context of global competition for capital. Therefore, as a prerequisite, Romania must ensure legislative, fiscal and policy stability to maintain the investors’ interest in the Romanian market;
- the strategy should aim at ensuring that energy markets are fully functional, equipped with adequate market instruments, avoid any distortions and offer a level playing field to market players;
- the strategy should propose policies which ensure the long-term security of supply, while maintaining the competitiveness of the economy and affordable access to energy sources;
- a successful Energy Strategy will require long-term commitment from the Romanian government and a clear implementation roadmap.
The debate was followed by a Q&A session.
The FIC presentation is available for download at: http://www.fic.ro/FIC%20-%20Energy%20Strategy%20Presentation%20-%20May%202014.pdf
The Foreign Investors Council (FIC) is an association of the leading investors in Romania. The FIC was established in 1997 when it officially began its activity with 25 companies as members.
Today, the FIC has 120 member companies whose cumulated investments in Romania exceed EUR 35 billion, representing approximately two thirds of the total foreign direct investment made since 1990.
The FIC includes companies providing the Romanian economy with a variety of goods and services and creating almost 200,000 direct and indirect jobs.
In the Top 10 largest companies by turnover, eight companies are FIC members, and 35 member companies are included in the Top 100 – as per the report “Major Companies in Romania” published in 2013 by IBP.
Foreign Investors Council (FIC) - www.fic.ro