Romanian gov't revokes 2-year ban on sale of state-owned stakes

World

Image by Shutterstock.com

Romania's government repealed a two-year ban on the sale of state-held stakes in companies which has been in force since August, the Energy Ministry said on Wednesday.

By revoking the law, the government aims to encourage market competition and avoid the financial deterioration of state-owned companies, the ministry said in a press release reported news portal SeeNews.

The bill was approved by Parliament in June and promulgated by President Klaus Iohannis in August. The new legislation is pending approval by Parliament and the president. According to the bill enforced in August, the two-year ban on the sale of state-held shares in local companies aimed to protect the national interest amidst the economic crisis caused by the coronavirus pandemic. 

ADVERTISEMENT

EU-funded fact-checking website in Hungary launches Analysis

EU-funded fact-checking website in Hungary launches

General elections to be held on April 3 Elections

General elections to be held on April 3

Microsoft Hungary head Chris Mattheisen discusses the Vatica... Podcasts

Microsoft Hungary head Chris Mattheisen discusses the Vatica...

Most districts not planning mandatory vaccination at kinderg... City

Most districts not planning mandatory vaccination at kinderg...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.