Romania will play a vital role in strengthening energy security and diversifying supply sources in the region by developing offshore gas resources in the Black Sea and participating in regional initiatives in the field, US Ambassador to Romania Kathleen A. Kavalec, told the US - Romania Economic Forum: Innovation for Prosperity, a satellite event of the Three Seas Initiative (3SI) Business Forum in Bucharest, hosted by our country this year.Kavalec welcomed Romania's "recent efforts" to improve transport connections and mobility in the region by upgrading its road and rail networks and modernising its ports.The US diplomat stressed that, similarly, Romania can promote digital transformation and innovation in the region by expanding broadband connectivity, developing e-government services and supporting regional initiatives such as the Three Seas Digital Highway.The US stands ready to support Romania and its partners in pursuing these and other projects that promote common interests and values. That is why we have pledged up to 300 million US dollars in funding for projects under the Three Seas Initiative through the U.S. International Development Finance Corporation, said Kathleen A. Kavalec.Referring to the economic partnership between the US and Romania, Ambassador Kavalec said that an important step is Romania's inclusion in the Visa Waiver program, which will allow Romanian citizens to travel to the US without a visa. One of the criteria for the Visa Waiver program is a low visa refusal rate, so we want as many qualified applicants as possible, and I encourage all Romanians to update their US visa any time after October 1, Kathleen A. Kavalec added.The US - Romania Economic Forum: Innovation for Prosperity brings together high-level government officials from Romania and the US, as well as leaders of major companies in the Three Seas region and was opened by Cristian Sporis, President of AmCham Romania, and Kathleen A. Kavalec, US Ambassador to Romania, Honorary President of AmCham Romania.
Bibiana Stanciulov, the owner of the company that produces Magiunul de Topoloveni (a registered traditional plum jam), one of the most famous Romanian food brands, sued Metro retailer for refusing to accept paying a higher price and eventually delisting her products, according to
Gameloft, a French producer and developer of video games, has decided to close the studio in Cluj-Napoca, opened 15 years ago, and to fire all 136 employees from this headquarters, the company told Economedia.ro. ...
The average net wage in Romania increased by 14.1% y/y to RON 4,973 (EUR 1,000) in Q1, after the earnings in March surprisingly exceeded those in December – seasonally boosted by yearend bonuses, according to data published by the statistics office INS. The higher net wages in March were in the tobacco processing industry (RON […]
Romania's seasonally (and workday) adjusted GDP rose by 0.5% q/q in Q1, reversing the 0.6% q/q decline in Q4 and bringing the index close to the level in Q3 last year – according to flash estimates published by the statistics office INS. The flash q/q estimate is roughly half of the expectations expressed...
Along with the consensus scenario of strong fiscal stimulus and robust domestic demand, the European Bank for Reconstruction and Development (EBRD) projects strong economic growth of 3.2% this year and 3.4% in 2025 for Romania, under the latest Regional Economic Prospects report published on May 15. The main vulnerability remains the fiscal position, the EBRD […]
The governor of the National Bank of Romania (BNR), Mugur Isărescu, speaking at the Inflation Report unveiling on May 15, declared that a fiscal correction is "absolutely necessary," but it is hard to carry out such policies during an electoral year such as 2024. "[The fiscal correction] is absolutely necessary, and we encourage the government […]
