The Employers’ Association of the Software and Services Industry (ANIS) said that the new draft Emergency Ordinance proposing abrupt and unexpected changes to fiscal policies, without genuine consultation with the business environment, defies the fundamental principles of fiscal stability and predictability. The expedited timeline for eliminating tax incentives for the IT industry, starting January 2025, sends a deeply negative signal toward a strategic sector of the Romanian economy, treated with disregard. It is worth noting that the removal of tax incentives for the IT industry, as part of reforms under the National Recovery and Resilience Plan (NRRP), was initially planned for 2028. However, in November 2023, this incentive was abruptly curtailed with implementation within days, destabilizing the industry. Advancing this timeline yet again, through another sudden measure, jeopardizes the stability of one of Romania’s most dynamic economic sectors and fuels uncertainty for companies, gravely affecting strategic planning and investor confidence. According to ANIS research*, the elimination of the tax incentive will reduce the industry’s global competitiveness by increasing labor costs and further shrinking employment, which already saw a decrease of about 10,000 jobs in 2023. ANIS warns that such measures risk isolating Romania on the global technology stage by discouraging investments and companies’ interest in the Romanian market, while undermining efforts to transform the economy into a competitive and digitalized one. “Once again, the Government disregards fiscal predictability legislation and any dialogue with the business community and entrepreneurs who sustain the national economy, create jobs, and pay taxes. Removing this incentive in the current context could severely impact not only the industry, through massive job cuts, withdrawal of international companies, or redirecting investments to other countries, but also destabilize the broader economy at a critical moment for digitalization and retooling, which are essential to maintaining the competitiveness of Romanian companies,” said Edward Cretescu, President of ANIS. The IT sector has played a vital role in the resilience of the national economy, even during crises. Over the past five years alone, the industry has contributed a trade surplus of over €20 billion. The sector directly accounts for about 8% of GDP and indirectly contributes more than 14% to GDP. Furthermore, its employment multiplier effect accounts for approximately 15% of the total workforce in the economy. Major fiscal changes that abruptly disrupt the dynamics of the industry risk undermining Romania’s economic progress and severely affecting the business environment.
The Japanese premium skincare brand Onshindo Osaka officially enters the Romanian market through its exclusive distributor, Pharma Brands, marking a new milestone in its European expansion strategy. Following its successful launch in Spain, the company aims to capitalize on the growing interest of Romanian consumers in premium skincare products with clinically proven efficacy and authentic […]
Honor appointed Kerr Cheng as the new country manager for Romania, placing him at the helm during a “key phase” of the brand’s expansion in Central and Eastern Europe. The company said Romania remains one of its most dynamic and strategically important markets in the region, and Cheng will be responsible for accelerating local growth […]
Romania has closed its participation in the 2025 Venice Architecture Biennale with the conclusion of Human Scale, the exhibition presented in the Romanian Pavilion at Giardini della Biennale and in the New Gallery of the Romanian Institute of Culture and Humanistic Research. Meanwhile, the project’s official catalogue has been made available to the public. The […]
The forests around the mountain city of Brașov and the Postăvaru Massif may be home to the largest densities of large owls in the world, according to a study by biologist Călin Vasile Hodor from Wildlife Management Consulting and professor Dan Traian Ionescu from the Faculty of Forestry Brașov, as quoted by BizBrasov.ro. The study […]
The final version of Romania's national defence strategy 2025-2030, as amended following the public consultations and approved by the members of the Supreme National Defence Council (CSAT), is to be presented by president Nicusor Dan in Parliament, where it will be debated and voted on by lawmakers. The Romanian state must be prepared to manage […]
Romania aims, through its new National Defense Strategy, to become the second military power on the eastern flank and a defense provider in the Black Sea region, according to defense minister Ionuț Moșteanu. The new National Defense Strategy is a paradigm shift, the minister said. “A fundamentally different point of view is that we are […]
