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Although Romania is an advanced transition country and a member of the European Union, the country still faces significant transition challenges in the coming years in certain sectors.
Strategy (242KB - PDF)
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Report on the invitation to comment (46KB - PDF)
Key transition challenges which can be addressed with the support of EBRD financing and assistance include:
- Promoting stability and expanding products in the financial sector. Given the continuing global economic and financial uncertainty, the stability of the financial sector is still at risk. Further development is also required in the areas of leasing and insurance and local capital markets.
- Strengthening infrastructure through improved efficiency and greater private sector involvement. It is necessary to develop the national infrastructure sector and, where appropriate, to introduce private sector investment via concessions/PPPs. In many infrastructure operations (water, waste, roads, rail, district heating, etc.) there is a need for improved operating efficiency and service levels, and less dependence on public subsidies and state financing.
- Restructuring the power sector and increasing energy efficiency and sustainability. A large part of Romania’s energy sector is still state-owned and needs to be restructured and/or privatised to encourage investment and to promote efficiency. Despite improvements in recent years, Romania is still an energy intensive economy and needs to make further progress in the transition to an efficient, low carbon economy.
- Encouraging investment in the production side of the economy. As a consumer driven economy, it is important for Romania to introduce new products and processes in sectors such as manufacturing and agribusiness in both local and foreign-owned companies. Future growth prospects also depend on strengthening competitiveness, developing greater export capacity, and improving the business climate.
Last updated 20 March 2012