Romania needs to import, rather than export capital, and the local economy’s privatization process needs to continue to build a modern capitalism, said Ludwik Sobolewski, the general director of the Bucharest Stock Exchange.

Countries which try to build a modern capitalism, such as Romania, need to avoid exporting capital.

“You may say I’m anti-liberal, anti-global, but it is my belief,” said Sobolewski, cited by local Agerpres.

Romania should allow pension funds investing in investment funds, which in turn could invest in smaller companies, even in private funds. Romania could thus exercise its sovereign role by defining its economic policy, added Sobolewski.

editor@romania-insider.com