Academia de Guvernanță. OECD Accession: How Romania’s Governance Reforms Are Fueling Investment and Innovation
As Romania advances through the complex stages of OECD accession, high-level coordination and governance reforms are already showing tangible results — including record-breaking foreign direct investment. In an interview with PROFIT NEWS TV, Government Secretary General Mircea Abrudean outlines the roadmap and national effort behind the process, while Gabriela Hârțescu, Dean and Founding Member of Envisia – Boards of Elite, explains how OECD principles of corporate governance are shaping board education and innovation across the public and private sectors.
A Strategic National Priority
The General Secretariat of the Government (SGG) plays a central technical coordination role in Romania’s OECD accession process, alongside the Ministry of Foreign Affairs. According to Secretary General Mircea Abrudean, OECD accession is the country’s most significant national project since joining NATO and the EU. “There are 26 sectoral committees in which Romania must present and defend its positions. The OECD brings together 38 of the world’s most powerful economies, representing 70% of global production and over 90% of FDI. That’s where we want to be,” he explained.
Record FDI and Investor Confidence
Romania’s official candidacy, confirmed in early 2022, immediately strengthened investor trust. That same year, the country recorded the highest volume of foreign direct investment in its history—nearly €11 billion, surpassing the previous peak from 2008.
“Just becoming a candidate gave investors the confidence that Romania is implementing high international standards,” said Abrudean. “It’s a clear sign that we are serious about long-term reforms.”
Behind the Scenes: 26 Committees, 250 Instruments
OECD accession involves a rigorous evaluation across 26 sector-specific committees. Romania must implement over 250 instruments spanning legislation, economic policy, and social standards. So far, five committees have validated Romania’s alignment, with work ongoing on the remaining 21.
“This is a highly technical process, with mixed working groups, formal presentations, and evaluation visits. Coordination at the center of government is essential,” Abrudean emphasized.
Corporate Governance at OECD Standards
According to Gabriela Hârțescu, OECD standards are not only a requirement for accession but also a blueprint for stronger, more transparent governance in both public and private sectors.
“OECD offers governments high-quality analysis and practical tools to design better economic policies. In corporate governance, it provides clear principles and guidance that are already integrated into Envisia’s board education programs,” she noted.
Transparency, Accountability, and Shareholder Rights
Hârțescu detailed the six core OECD corporate governance principles, which include:
- Effective governance frameworks that ensure equitable access to capital and sound oversight;
- Protection of shareholder rights, including those of minority investors;
- Accountability for institutional investors and intermediaries;
- Real-time access to company performance, sustainability, and ownership information;
- Clearly defined board responsibilities for strategy, oversight, and stakeholder rights;
- And most recently, incentives for sustainability and resilience in corporate decision-making.
“Investors are the lifeblood of economic development, and governance must actively encourage and protect their contributions,” said Hârțescu.
Public Sector Innovation: From Compliance to Culture
OECD membership also encourages innovation in governance. Romania is already piloting an “Innovation Lab” within the Government, based on OECD models.
“OECD is a permanent laboratory of ideas. That’s why innovation, especially in public administration, is crucial,” said Abrudean. “Our goal is to identify bottlenecks and propose alternative, simpler solutions.”
Building Trust and Capacity in the Public System
OECD also promotes capacity building and trust in government institutions. Gabriela Hârțescu emphasized the need for leadership development in the public sector and a cultural shift toward innovation.
“Public trust increases when government institutions function transparently, provide quality services, and work as an interconnected ecosystem. Education and training for public professionals are key to achieving this transformation.”
About Envisia – Boards of Elite
Envisia is the first business school in Central and Eastern Europe focused on board education. Its mission is to build a community of board-ready professionals who embody ethics, professionalism, and strategic responsibility.
Envisia offers:
- Master of Arts in Board Practice and Directorship (with Henley Business School – University of Reading, UK), the first internationally accredited postgraduate program for board members in Romania. About the program here.
- Corporate Governance that Creates Value, the first continuous professional development postgraduate program for listed company board members. The program here.
- Board readiness assessments, certifications, executive coaching, and governance advisory.
Envisia’s network includes top national and international partners such as Henley Business School, the London Stock Exchange, CISI UK, European University Cyprus, and leading Romanian regulatory and financial institutions.
Learn more about Envisia here.
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