The total value of Luxembourg investments in Romania in June 2024 amounted to 5.97 billion euros, as there are 1140 companies with Luxembourg capital, announced the president of the Romanian Chamber of Commerce and Industry (CCIR), Mihai Daraban.The CCIR signed a Memorandum of Understanding with the Luxembourg Chamber of Commerce on Tuesday, October 1, the event taking place on the sidelines of the three-day Romania-Luxembourg Business Forum, held in Bucharest, informs a press release of the institution sent on Wednesday.The document provides for the strengthening of business relations and the development of the economic component between the two countries and sets out the guidelines that the business environments in Romania and the Grand Duchy of Luxembourg can follow to facilitate bilateral trade."Bilateral trade exchanges indicate a rather small annual value, namely about 147 million euros, reported at the level of 2023. However, if we take into account the volume of trade in services, it amounts to almost one billion euros. Moreover, the total value of Luxembourg investments in Romania amounted to 5.97 billion euros in June 2024. There are 1140 companies with Luxembourg capital in Romania, with a total amount of subscribed capital of 1.85 billion euros. These figures must be taken into account, especially if we consider the size of the Grand Duchy of Luxembourg, and the document we have signed today can be a new step in the development of bilateral trade relations," said Mihai Daraban, in the cited press release.The president of the Luxembourg Chamber of Commerce, Fernand Ernster, pointed out that the first Memorandum between the two countries was signed in 2002.I am happy to announce the resigning of the Memorandum of Understanding because the first document of this kind was signed in 2002, and this shows that there is a long-lasting partnership between the two chambers. This agreement symbolizes our commitment to continue our cooperation with the CCIR, an organization with the help of which we can lay the foundations for sustainable economic development for both Luxembourg and Romania. Together, we are not only building business, but we are also laying the foundations for a solid economic partnership that will withstand future challenges, Fernand Ernster said. (Photo:https://ccir.ro/)
This article series tells the stories of the 15 finalists selected in the BVB Arena program. BVB Arena is the flagship program of the Bucharest Stock Exchange, dedicated to developing and promoting the Romanian entrepreneurial environment. The program’s goal is to select and promote Romanian companies that have the greatest growth potential and high chances […]
Salt Bank, the first 100% digital Romanian bank built entirely from scratch, has been named by Celent as the 2025 Model Bank for Digital Bank Launch. Celent is one of the world’s most prestigious research and advisory firms focused on technology for financial institutions. By receiving the title of "2025 Model Bank for Digital Bank […]
The 8th edition of the national educational program “Healthy Lifestyle, Diverse Nutrition and an Eco-Responsible Attitude” under the motto “Good for Taste, Good for Health, Good for the Planet!” has concluded. The program was organized by the Taste Celebration Association and funded by the Auchan Foundation with 100,000 euros. The program aims to convey to […]
Romania's budget deficit, meaning the gap between revenues and expenditures, reached 3.39% of GDP after the first five months of the year, while the new government grapples with balancing initiatives. The deficit increased compared to the first four months, when it stood at 2.95% of GDP, and remained roughly stable compared to the first five […]
eLog, a Balkan-based provider of reusable transport packaging systems for the retail sector, has entered the Romanian market by leasing 4,000 sqm of warehouse and office space at CTPark Bucharest North. The facility, developed by CTP, will serve as eLog’s first operational hub in Romania, supporting its expansion into local retail logistics. Specializing in Retail […]
More than three-quarters of Romanians (76%) see Artificial Intelligence as an opportunity for the economy and society, although half of them also acknowledge its risks, according to a new RoCoach and Novel Research study. Overall, over one-third of respondents (35.7%) believe that AI will primarily lead to job losses, even if new types of roles […]
