Conference on “Insurance. Present and Future Policies” to take place Thursday, at Academy of Economic Studies

The Academy of Economic Studies (ASE), in partnership with the Association of Economic-Social Studies and Forecasts and the Financial Supervisory Authority, is organizing on Thursday, March 28, at ASE, the conference on “Insurance. Present and Future Policies”, which will be attended by government representatives and insurance experts.

The organizers inform, in a press release, that the public procurement market in Romania, with over 20 billion euros, represents the largest market of its kind in South-Eastern Central Europe, being extremely attractive for all major companies, starting from the field constructions and, in particular, of critical transport infrastructures (air, sea, river, road and railway), energy or IT, up to the more “sensitive” areas regarding defense and cyber security.

“In this large market, against the background of regulatory deficiencies and speculation or even coercion of the legislative framework, there were companies that speculated on the needs of private companies, but also of state institutions, to cover contracting risks. Unfortunately, the bankruptcy of the large players who were active in the past with great success in this sensitive area, as well as the lack of mobility and flexibility of the existing players on the market at the moment, led to a quasi-perpetual blockage, which produced on the one hand a cartelization of some big players who manage to get the big contracts and, on the other hand, to a real lack of competition caused by the impossibility of small and medium-sized players who do not have access to such guarantee instruments,” the press release states.

Noticing these perils which are of a nature to endanger the normal economic functioning, distorting the business milieu and the competitive public procurement market, the Academy of Economic Studies, in partnership with the Association of Economic-Social Studies and Forecasts (which groups important experts from the economic field -financial), but also with the Financial Supervision Authority “which proves a different approach under a new management, more oriented towards the demands of the regulated market”, considered that it is time for a “wake up call” and initiated the development of this conference, which will be moderated by Bogdan Petre, PhD student, specialist in the field, underlines the quoted source.

Representatives of the Financial Supervision Authority, the National Agency for Public Procurement, the Competition Council, the Ministry of Finance, the Ministry of Investments and European Projects, the Ministry of Public Works Development and Administration, the Ministry of Transport and Infrastructure, the National Fund of Credit Guarantee for Small and Medium Enterprises, Agency for Monitoring and Evaluation of the Performance of Public Enterprises (AMEPIP) will voice their viewpoints at the said conference.

Bogdan Petre, member of the Association for Economic-Social Studies and Forecasts (ASPES), the moderator of the conference, stated that the aim is to identify real solutions, without demagoguery and superficial measures, through the implementation of which Romanian entrepreneurs will have equal opportunities with foreign entrepreneurs, and the Romanian subcontractor, who executes the contracts won by foreign contractors, should be protected, with a real profit margin and with the quality requirement required by the authorities.