Constanta port could become an important logistic hub in the movement and storage of goods brought from UAE for the European market, according to Mihai Daraban, the president of the Chamber of Trade and Industry of Romania (CCIR). On Monday, Daraban met met Khalid Al Marzooqi, vicepresident for development Khalifa Economic Zones Abu Dhabi (KEZAD). KEZAD is the largest integrated economic area in UAE, supplying a large range of business services, staff accommodation and industrial real estate solutions. “Romania and UAE need a strong economic relations, having in view elements of mutual interest which could lead to economic growth by both parties. Thus, Constanta port represents a good investment opportunity, since it is the largest multi-functional Black Sea port. Constanta port could become an important logistic hub in the movement and storing of goods coming from UAE for the European market. Constanta port offers facilities for new investments, ensuring at the same time a strategic position opening to Central and Western Europe through the Danube river corridor,” Mihai Daraban pointed out. According to him, the value of commercial exchanges between the two states, at October 2023 level, was 396 million euros, very close to the total amount at the end of 2022. In context, Daraban pointed out there was an important growing potential for the development of joint projects with the UAE party. “Romania represents a trustworthy commercial partner for UAE, a fact that determined us to establish a direct connection with the Chamber of Trade and Industry of Romania,the most important promotion vector of business in your country. We could thus develop may projects in partnership with Romanian entrepreneurs, KEZAD Group being present in 12 commercial areas in Abu Dhabi, Al Ain and Al Dhafra Region. We have ver 50,000 employees and operations in 40 countries, among which Turkey, India and Indonesia, while in Europe we have been operating in 11 ports. At present, 611 UAE companies activate in Romania and the value of direct investments at the end of 2022 was 469 million euros. With the business contacts established tday we want to improve these figures and develop a long term economic relation with Romania,” said Khalid Al Marzooqi.
The Ministry of Development proposed to the government to analyse the opportunity to develop an investment program dedicated to the economic recovery of small towns with a population of under 25,000 in non-metropolitan areas. The financial support for the development of these towns has been so far fragmented, and competition with large cities for funds proved […]
Prime minister Ilie Bolojan said on November 6 that he hopes that the ruling coalition will manage to legislate by the end of this month the rest of the second package of budgetary measures, namely the public administration streamlining law and the law on magistrates' pensions. Unless the law on the public administration is legislated, […]
Japanese group Makita announced that it will reduce production of power tools in China for the US market due to the unpredictability of US tariffs and move this production to factories in Romania and Thailand, according to Nikkei Asia, as reported by Economica.net. The Japanese group reported business of almost EUR 640 million locally...
The Competition Council has outlined a series of concerns related to the transaction through which the Schwarz group, which operates the Kaufland and Lidl store chains in Romania, intends to take over the La Cocoș stores, according to a press release quoted by
Romania’s flag carrier, Tarom, has requested the government to disburse a new tranche of restructuring state aid approved in 2024 to address the current liquidity deficit, Profit.ro reported. The company argued that, because of late payment penalties...
Retail sales volume contracted by 2.3% q/q in Q3, resulting in a 0.3% y/y decline in Romania (the second negative reading since the Covid-19 pandemic), visibly dragged down by the real wages that contracted by 3.7% y/y in July-August (latest data available) after +2.2% y/y in Q2, +4.6% y/y in Q1 and around 9%-10% y/y […]
