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Bizarre government project Casa de Comert SA: name is booked since years ago at Trade Registry

de Victor Bratu , 27.12.2017

Last week, the Ministry of Economy has launched to a public debate a draft government decision to establish the company Casa de Comert, which, according to the explanatory memoranda attached, aims at recovering the economic losses “caused by the gradual withdrawal of the state from the economy.”

If they had had the precaution to check with the Trade Registry before uploading the draft government decision on the website, the Ministry of Economy officials could have found that they cannot establish the company with that name simply because the name “Casa de Comert SA” is reserved since several years ago. The information was provided to cursdeguvernare.ro by the CCIR President, Mihai Daraban.

What state’s “Casa de Comert” is, compared to chambers of commerce in the economy

The Ministry of Economy proposes to the Government to establish “Casa de Comert SA”, which “aims at integrating and syndicating business offers, aggregating their capacities, to offer complex businesses and objectives, as well as prospecting markets and promoting products and services.”

The reason why this initiative emerged is explained in the explanatory memorandum: “One of the effects of restructuring the Romanian economy through the transition from the centralized economic system to the market economy, as of 1990, was a decline in the export competitiveness of the Romanian economy, following the loss in the entrepreneurship capacity of the complex entities, as well as the capacity to respond to big and highly complex offer requests by integrating the offer of products and services at the level of the Romanian economy“.

The President of the Romanian Chamber of Commerce and Industry, Mihai Daraban, strongly believes that, despite the good intentions expressed in the support of the project, “it will be an entity that will take the path of state institutions” and not have the utility alleged by its initiators.

They want to manage things they cannot manage,” says Mihai Daraban, who states that this is not the only unrealistic project promoted by the Government: “It also happened with the famous share of Romanian goods in supermarkets, a seemingly generous but unsustainable project“.

Among the state company’s activities is the trade with live animals, and Mihai Daraban chooses this potential activity in support of his claims:

The Ministry of Economy says it wants to support small producers, to sell live animals. Very well. A potential business is the export of the young rams in the Orient, but there are a few things that the minister does not seem to know: Let’s say you go buy rams and find a shepherd willing to give you 10. First, you learn that the man does not have a POS, so you must take the bag with cash with you. Let’s say you buy them. How do you transfer them to Constanta, in the port? Let’s say you solve that too. When they arrive in Constanta, the 10 young rams should wait for other rams, as they could not leave alone… So, before they leave, you must feed them, give them water to drink, shelter them somewhere. Suppose an export batch is organised. Animals must be vaccinated before. Let’s not forget, in the meantime, you must look for a ship to transport the rams, as we do not have anyone anymore. On paper, things seem simple; we trade, not a big deal… There will be surprises …”

“Dowry” of Casa de Comert: headquarters, share capital of RON 1.5 million and green light for loans

According to the draft legislation, the initial share capital of the company Casa de Comert SA. consists of in-kind contributions, represented by the building from 23 Olari Street, district 2, Bucharest and a cash contribution of RON 1,500,000.

As at the date of company establishment only RON 1 million has to be paid, the draft authorizes the future company to approach alternative types of financing and the company is authorized to contract loans, including by issuing bonds.

The management of the company will be endured by a board, whose members are appointed by the ministry. The first task of the board is to approve the organizational structure of the company and the number of jobs.

According to the Articles of Association elaborated by the Ministry of Economy, the company’s main field of activity is CAEN code 461 “Intermediation activities in wholesale trade”.

It is complemented by the following secondary activities:

  • 4611 Agents involved in the sale of agricultural raw materials, live animals, textile raw materials and semi-finished
  • 4612 Agents involved in the sale of fuels, ores, metals and industrial chemicals
  • 4613 Agents involved in the sale of timber and building materials
  • 4614 Agents involved in the sale of machinery, industrial equipment, ships and aircraft
  • 4615 Agents involved in the sale of furniture, household goods, hardware and ironmongery
  • 4616 Agents involved in the sale of textiles, clothing, fur, footwear and leather goods
  • 4617 Intermediation in the trade of food, beverages and tobacco
  • 4618 Agents specialised in the sale of other particular products, n.c.a.
  • 5812 Activities of editing guidebooks, directories and mailing lists, and similar ones
  • 5819 Other editing activities
  • 5829 Other software publishing
  • 6311 Data processing, hosting and related activities
  • 6312 Web portals
  • 6399 Other information service activities n.e.c.
  • 6499 Other financial service activities n.e.c.
  • 7021 Public relations and communication activities
  • 7022 Business and other management consultancy activities
  • 7220 Research and development in social sciences and humanities
  • 7320 Market research and public opinion polling
  • 7490 Other professional, scientific and technical activities n.e.c..
  • 8230 Organization of exhibitions, fairs and congresses
  • 8299 Other business support service activities n.e.c.
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Publicat la data de 27.12.2017

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