Why Romania?

Why Romania?

Romania is currently one of the most attractive destinations for foreign direct investments (FDI) in Central and Eastern Europe. After joining the European Union in 2007, it experienced numerous reforms and changes for increasing transparency and facilitating the conduct of business in our country. The structural reforms introduced in Romania, such as the liberalization of the energy market and the new labor code, are beginning to pay off. The increase of domestic consumption and the increase of net exports are the main mechanisms of economic growth in our country.

In 2013, Romania recorded one of the highest economic growths in the European Union, i.e. approximately 3.5%, and, this year, the The Global Best to Invest report placed Romania on the 4th place in the top recommended destinations for investments in Central and Eastern Europe.

According to The Economist Intelligence Unit, the reduction of the current account deficit and the reduction of taxation will lead to the decrease of Romania’s dependence on external financing. Romania climbed to the 50th place in the global top made by The Economist and to the 10th place, from the 16th place, in the regional top made by The Economist for 2014-2018.

The stable economic growth is also supported by the efforts made to improve our country’s infrastructure, which remains one of the main issues raised by investors in addition to the ever-changing laws.

The improvement of the business environment may also be seen in the last report related to the Global Competitiveness Index published by the World Economic Forum in October 2014, where Romania climbed to the 59th place (1 being the highest rank) within the 2014-2015 timeframe, compared to the 76th place occupied during 2013-2014.

Romania is one of the largest countries in the European Union, with a population of approximately 19 million. Romania’s accession to the European Union in January 2007 was a stimulus for attracting investors and for boosting economic growth until the financial crisis occurred. Today, Romania is one of the most dynamic countries in the region, next to Poland, with a constant increase of the GDP starting from 2012 (+0.6%), then 3.5% in 2013, 2.2% in 2014 and with a projected increase of 2.5% in 2015.

The unemployment rate is rather low, even compared to that recorded prior to the onset of the financial crisis which reached 6.7% in 2014.

Currently, Romania has one of the smallest public debts in terms of share of the GDP, i.e. approximately 39% in 2014.

The inflation rate recorded a significant drop, being currently of approximately 1.5% (at the level of 2014), from 3.2% in 2013.

Romania has great agricultural potential, which makes it highly attractive for investors. At the same time, the workforce is highly educated and skilled, with a salary level far below most EU countries.

Romania has a high consumption rate, recording an increase in the recent period of time due to the growth of the middle class and the increase of the consumption appetite among the people, after the decrease of the negative influence of the financial crisis and the rebuilding of the trust of the people.

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