Romania's acting president, Ilie Bolojan, met representatives of the Foreign Investors Council (FIC) and bilateral chambers of commerce to discuss "attracting and continuously developing investments in the national economy, as well as on reducing local bureaucracy."
In the meantime, Bosch announced it gives up the planned EUR 110 million household appliance factory in western Romania, China's UE Furniture was taking over one of the countries' largest furniture producers, Rus Savitar, set up by local founders and temporarily owned by Swedish Greenbridge Partners, currently facing financial problems, and the farmers' association was accusing the new owner of Bod sugar refinery of turning the facility into a real estate project. Earlier this year, China's Haier abandoned its refrigerator factory in Romania, a project supported by a state grant.
Prime minister Marcel Ciolacu promised support for more industrial capacities, and the government is constantly running state grant schemes for various sectors.
On the upside, German retailer Lidl announced new investments in other stores, and French retailer Carrefour said Romania remains one of the group's main markets and will develop at full speed.
Despite several major projects such as the Nokian tire factory, foreign investors mainly target real estate (particularly retail) and logistics projects, as well as renewable energy projects.
In an earlier meeting with prime minister Marcel Ciolacu, FIC representatives pointed out that FIC Business Sentiment Index results show a trend of putting investments on hold due to political uncertainty, the budget deficit, and fiscal measures.
The delegation of foreign investors reportedly highlighted the need for reforms aimed at reducing bureaucracy, improving administrative efficiency, and creating a sustainable fiscal framework.
Acting president Bolojan reaffirmed Romania's commitment to a firm Euro-Atlantic path, emphasizing that this framework provides security for investors and contributes to the long-term development of the economy.
iulian@romania-insider.com
(Photo source: Presidency.ro)
