Cristian Nacu, Senior Country Officer for Romania at IFC: Jury Member at Business Review Awards 2024

In another testimonial interview with the jury members of the 19th edition of the Business Review Awards, we delve into the insights of a seasoned professional and a stalwart supporter of the private sector, Cristian Nacu, the Senior Country Officer for Romania at the International Finance Corporation (IFC). Join us as he shares his perspectives on the Romanian business environment in 2024 and his role as a distinguished member of the Business Review Awards Jury. As Cristian Nacu lends his expertise to the BRA Jury, your voice matters too! Participate in the popular vote section until March 3 at midnight.

This year is a very complicated year, mainly due to the many election rounds which are expected to influence the day-to-day activities and put more pressure on the fiscal deficit, already quite high. However, in general, we should be optimistic, regarding the overall growth (various International Institutions have estimated a GDP growth around 3-3.5%). Growth is projected to strengthen over the medium term, if the improvements in infrastructure, mainly financed with EU funds, will be finalized.

The Romanian Business environment should focus on preparing for the transition to a greener economy and a circular economy, according to the EU plans which have been transposed into the national legislation. The players in the private sector are growing increasingly aware that managing environmental, social, and governance risks (ESG) is more than just compliance or even just the right thing to do. Addressing these risks helps them to achieve better growth, improve their brand, strengthen stakeholder relations, and boost their bottom line.

I am expecting a very strong competition this year because Romania has a very strong and resilient private sector which has led the development of the country in the last 30 years. In fact, after these last few years of multiple crisis (pandemic, war, energy crisis, inflation), those companies which managed to still grow are probably stronger and more resilient than ever.

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Cristian Nacu, IFC: I would say that this year the watchword was sustainability

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I have been a strong supporter and admirer of the private sector, my entire career. Experiences like this one, allow me to know more about the most relevant private companies and this is very important for me.

I bring to this Jury my entire career experience of working with private sector. I have spend more than 12 years within IFC and 13 years in PE and VC, which allowed me to see thousands of companies.