Amendments brought to G.E.O. 109/2011 by Law 111/2016 upgrade Romanian company law from corporate governance principles perspective. State as shareholder switch its position in respect to SOE (state owned entreprises) by no further inactively awaiting outcomes, but attending to setup of general goals and of their mission, related to the expected contribution for the achievement of the governance programme. Amendments are substantial and outline...

It is an undisputable fact that state-owned enterprises have become, in the last two decades, a black hole of the national economy, which absorbs far more public resources than it creates. Under the recent agreements with the International Monetary Fund and the European Commission, the Romanian government undertook the obligation to privatise the most significant state -owned enterprises in its portfolio.As a prerequisite for...