REB 2000 - Romanian Environmental Book

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REB 2000

GUIDE FOR INVESTORS: ENVIRONMENT AUTHORIZATION PROCEDURE FOR PRIVATISATION

Mariana GHINERARU, Ph.D.

State Ownership Fund expert, Bucharest Territorial Directorate

At the origin of environment destruction there is an anthropologic error: man discovers his capacity to create the world, substituting God, and ends by causing nature to revolt.

Nature is not the stone, water, tree, insect, animal; it is the power, which, step by step, unites us with the skies.

In the economic activity we must take into account nature’s laws as a token of respect for the fragile ecological equilibrium, which has already suffered from many human uncontrolled interventions.

We must remember more often that the quality of our responsibilities determines the quality of our freedom.

In the present conditions of society progress, technological and economic studies always approach ecological issues. A real economic efficiency organically integrates the raise of productivity with environmental protection.

This is the reason why, in the privatization process, we advise investors (buyers) to fully use their owners quality to ascertain that the company fulfills the environment-related obligations and complies with the observance schedule established by the competent environment authority.

We also advise them of and include contract provisions about compulsory social protection measures.

National privatization strategy for 1999

The objectives of the privatization strategy in 1999:

quality and quantity-wise improvement of privatization through the promotion of privatization methods which result in an increased competition between potential buyers and an increased rhythm of share sale (call bidding rather than sale through direct negotiation);
transaction transparency and equal chances for investors through call bidding and public offer on the capital markets, in the case of small and medium-sized companies;
greater share of private capital in the total registered capital of companies;
speeding up the privatization process by splitting up large companies into existing assets or activities and fast privatization of the resulted small or medium-sized companies;
encouraging the new owners to invest in their companies, including investments in environment protection;
making the sale of shares more attractive by restructuring the company and rescheduling its debts, as per the legislation in force;
separation of non-viable activities, which present no interest for privatization, in compliance with the restructuring studies; total or partial operational closure of related assets for sale at a later stage.

The national privatization strategy for the current year is based on the existing applicable institutional and legislative framework.

This book is the result of the proceedings of the Romanian Environmental Forum, 6th edition held in Bucharest between 16 and 19 November 1999.