The American Chamber of Commerce in Romania mentions the worries of the business community it represents about the intention of the ruling coalition to increase the fiscal burden for large companies in Romania, at a moment when the investment and business climate has already been affected by many crises, according to a press release issued on Tuesday. In the opinion of AmCham representatives, the lack of predictability and the increase of instability through unexpected measures discourages investments and the companies' intentions for the Romanian market, the average and long term negative impact exceeding short term gains. In the outlook of AmCham, the import of measures applied in other countries do not guarantee their applicability to Romania's economy. So the practice of transferring budget pressure to the private environment overnight , without prior consulting, without a real impact study, without an analysis of compatibility with European law proved to be counter productive. According to AmCham representatives, overnight measures led to state budget losses, contrary to paper calculations that showed income increases. AmCham Romania makes appeal to giving up this measure and orienting government agenda to sustainable, responsible policies, which should contribute to the consolidation of investment rating and attracting investments. At the same time, AmCham Romania reiterates the need for honest dialogue and partnership between the private and public environments and expresses the availability and engagement to participate in real, transparent, substantial consulting on Romania's fiscal policy. At present, the over 470 American, multinational and Romanian companies, members of AmCham Romania community, make possible the AmCham involvement in promoting economic priorities for many activity domains, through specialized work groups such as: Stock Markets and Financial Services, Corporate Governing, Competition and State Aid, Energy, Education, Digital Economy, Fiscality, Environment, Labor Market, Health, European Funds, Public Purchases and Public-Private Partnership, Real Estate and Tourism.
Romanian prime minister Ilie Bolojan stated during an interview on Wednesday, December 17, that there should be no statute of limitations in cases of serious corruption. The statement comes after a Recorder investigation, which showed that several heads of the major institutions in the Romanian justice system allegedly delayed trials for years until wrongdoings were […]
President Nicușor Dan has challenged, before the Constitutional Court (CCR), the constitutionality of the law that requires that at least 40% of the athletes who play on a team in official national competitions be Romanian. Dan noted that the law violates the principle of non-discrimination and the free movement of workers, enshrined both in the […]
Craiova International Airport will open its new passenger terminal on Thursday, December 18, completing a major infrastructure investment aimed at significantly expanding capacity and improving air connectivity in southwestern Romania. It is part of a broader expansion and modernization project financed through the Large Infrastructure Operational Programme (POIM) 2014–2020, with a total value exceeding EUR […]
Romania is set to be connected to the Western European energy network thanks to grid investments worth EUR 30 billion. The funds will be provided by the EU by 2035, and the project will link Romania to Hungary and Austria in a joint project. Romanian energy minister Bogdan Ivan signaled the signing of the new […]
Franck Bagouet has been appointed managing director of TotalEnergies Marketing Romania SA and managing director of Automotive Southeast Europe Hub TotalEnergies Marketing. He succeeds Didier Grimault, who has accepted a new position within the TotalEnergies company. “I am glad to join this dynamic affiliate and confident that, together with our talented team, we will reinforce […]
Databricks, the data analytics and artificial intelligence company co-founded by Romanian professors Ion Stoica and Matei Zaharia, announced on Tuesday, December 16, that it is raising USD 4 billion in funding at a valuation of USD 134 billion, according to CNBC. The new valuation represents a 34% increase compared to the August round, when Databricks […]
