Romania will focus on ten economic sectors to increase its competitiveness by 2020, including tourism, car industry, IT&C, energy, agriculture, textiles and pharma, part of a competitiveness strategy whose purpose is to enter the league of advanced countries, according to Mediagax newswire.

By developing these sectors, Romania should “have a significant contribution worldwide’. The next 7 years will be critical for Romania’s development. The strategy also features a 6-month period before issuing a new law which affects the business environment, and enforcing it.

It also includes a drop in the number of taxes, from 39 this year, to 13 in 2020, and improving the country’s position in the Corruption Perception Index, from 69 to 40, as well as limiting the underground economy to 15% of the GDP, from the current 30%. Building 500 kilometers of highways is also included in the strategy.

editor@romania-insider.com