President Iohannis: Gov't action on essential issues to SME welfare and economics, still insufficient

President Klaus Iohannis argues that government action on key issues to the well-being of SMEs and the economy is still insufficient. 

"The modernisation of Romania over the next decades depends, to a great extent, on the scale and the quality of the investments made in the economy. After an economic advance of almost 7pct last year, based mainly on consumption, current developments show how important it is that the economy generates quality growth based on investment and exports. Only a robust, qualitative economic growth can support the long-term increase in the incomes of the population and the economic and social well-being. From this point of view, the governmental action is still insufficient in terms of essential issues for the well-being of SMEs and the economy, such as the development of transport infrastructure, the use of European funds, the encouragement of innovative industries, and also finding sustainable solutions to the shortage of qualified workers in the economy," Iohannis said in a message to the opening of the twenty-first edition of the National Ranking of Private Companies in Romania read out by presidential adviser Cosmin Marinescu. 

In his message, Iohannis points out that "improving economic competitiveness is based on smart public policies that decision-makers develop in terms of promoting innovation and new technologies, developing financial markets and education in the spirit of performance." 

He points out that in the modern economy, the development of firms is done through capital attracted from banks and financial markets. 

In this context, the head of state points out that adopting simplification measures in these areas would bring significant benefits for small and medium-sized entrepreneurs 

He points out that fiscal or labour market changes must also have a predictability horizon. 

He adds that it would be to the benefit of all if young people would be more encouraged in the relationship with the labour market. 

"I consider it essential for the education system to be flexible and adaptable to the demands and expectations of employers, for example by shifting the emphasis on developing IT skills or practical skills. In this respect, the business environment is entitled to await responsible measures on the wage policy line. Supporting the workforce and the well-being of employees does not have to mean unsustainable costs on the part of the entrepreneurs (...) I urge you to be confident, rise up the top of the economic performance, and I assure you of all my support for an honest and constructive dialogue with the entrepreneurial sector," concludes Iohannis.