Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. FIC: Fiscal measures package, very bad news for...

FIC: Fiscal measures package, very bad news for investors 

December 14, 2023

The fiscal measures package is very bad news for investors and we see a drastic drop in trust in a very short period of just a few months, Daniel Anghel, president of the Foreign Investors Council (FIC) said in a press release sent on Wednesday."Last year, the foreign investment flowin Romania was 10 billion euros, the highest amount in over a decade, reflecting more trust from companies. Unfortunately, these sudden moves in fiscal policy motivated only by the desire to bring more money to the budget in the short term will negatively affect not only perception, but also investments as such in a period of macroeconomic uncertainty. Authorities should think about how to attract new investments, not just how to tax the existing ones more, because there is a risk that they will decrease," said Daniel Anghel, president of FIC.The latest edition of the Business Sentiment Index (BSI), conducted by theForeign Investors Council, shows that investors' perception of Romania has deteriorated significantly due to the fiscal measures package. According to FIC, only one third of investors responding to the BSI consider the Romanian market attractive in the autumn of 2023, due to the impact of the fiscal measures package, while more than half of FIC members consider that the economic environment in Romania has worsened in the last period, reaching a seven-year low.Signals about the possibility of new taxes are leading companies to be more cautious about allocating budgets for new investments, 20% of respondents will reduce their investment plans for the coming period, and the number of those expecting revenues to increase in the coming months fell from 70% in March to 54% in October. Perceptions of regulatory constraints are near an eight-year low (only 3.8% of respondents consider our country to be competitive in this respect). At the same time, the tax burden has worsened compared to the last 4 years (53% of respondents marked Romania as uncompetitive).As many as 52 out of 116 FIC members responded at this edition of the perception index.The Foreign Investors Council is the association that brings together the most important investors with foreign capital in Romania, about 120 of the largest companies in the country with a cumulative turnover that represents one fifth of the gross domestic product and that have a significant contribution to the state budget.  

The text of this article has been partially taken from the publication:
http://actmedia.eu/daily/fic-fiscal-measures-package-very-bad-news-for-investors/105928
Read in full - click here
June Communications strengthens its management structure. Bianca Caragea appointed as Operations Manager

The agency plans to expand its team and reach a turnover of EUR 450,000 by year-end. June Communications (JUNE), a business-to-business PR and integrated communications agency, has appointed Bianca Caragea as its new Operations Manager. The step strengthens the agency’s management team as it enters a new stage of growth after seven years of sustained […]

Western Romania: Babeș-Bolyai University establishes endowment fund

The Babeș-Bolyai University of Cluj-Napoca (UBB) has established an endowment fund, which the institution described as a "strategic" financial mechanism aimed at supporting academic excellence and ensuring the long-term sustainability of university projects. The initiative is a first of its kind in the local academia, UBB said. The endowment fund involves attracting donations/financial resources and […]

Romanian authorities reportedly mulling access fee for the Transfăgărășan mountain road

Romanian authorities are reportedly considering imposing an access fee for the Transfăgărășan mountain road. The funds would be used for setting up decent parking areas, selecting merchants, and similar initiatives.  The beautiful, winding road is one of the most visited tourist attractions in the country. Local authorities say the funds from an eventual toll would […]

J Balvin to perform in Dubai for first time at Untold Festival

Colombian reggaeton superstar J Balvin will perform in Dubai for the first time this November, headlining Untold, the globally recognized festival born in Romania. The event will take place from November 6 to 9 at Dubai Parks and Resorts, featuring more than 100 international acts across five stages.  The festival is staged in partnership with […]

Over 17% of Romanians faced severe material deprivation in 2024, Eurostat says

More than 17% of Romania’s population faced severe material and social deprivation last year, which was one of the highest shares in the EU, according to the statistical bureau of the European Union - Eurostat.  In 2024, 6.4% of people in the European Union faced severe material and social deprivation, a slight decrease compared to […]

Animal rights march to take place in Bucharest in October

The Freedom and Respect for Every Earthling association will hold the March for Animal Rights in Bucharest on October 4, to mark International Animal Day. The march will start at 11 AM at the National Theater Park, and will go on to Piața Victoriei. Organizers say they aim to bring to the forefront the suffering […]