One of the main conclusions of the discussions between interim President Ilie Bolojan and foreign investors, which took place at the Cotroceni Palace on Wednesday, was that Romania can increase competitiveness in the region with the help of major economic players, provided strategic measures are taken to stimulate investments, whose goal is to reduce pressure on the state budget in the medium and long term, according to the Presidential Administration."In a tense geopolitical context, it is important for the country's economy to be as productive as possible and oriented towards investments with high added value, so that it is prepared to respond to external shocks," the Presidential Administration said in a press release after the "Romania on the Investment Map" event, organised by the Foreign Investors Council (FIC), with the participation of the interim president and hosted by the Presidential Administration.The event brought together over 50 general directors and CEOs from FIC member companies and marked a concrete step toward a transparent and structured dialogue between the Presidential Administration and FIC. It also confirmed the essential role of foreign investments in Romania's economic development.According to the Presidential Administration, foreign direct investment (FDI) in Romania has significantly increased from the 1990s to 2024, now representing 35% of the Gross Domestic Product (GDP)."At the same time, with the help of FDI, the country's economy has grown 10 times, from 36 to 355 billion euros in 2024. Both FIC and a significant portion of its member companies have a history of about 30 years of activity in Romania, which has brought investments, jobs, contributions to the Romanian budget, and a long-term commitment to the country's development," the release said.FIC representatives also pointed out that 51% of the turnover of companies in Romania is represented by foreign-owned companies, meaning over 275 billion euros in the country's economy in 2023. Furthermore, FDI exports account for 69% of total exports. Foreign-owned companies employ over 1.3 million people, invest 1.5 times more than the national average, and maintain the same ratio in terms of labour productivity (profit per employee) and profitability.FIC members and the interim president addressed strategic issues for economic development, such as the country rating, fiscal reform, security, and the defence sector, investment attraction strategy, EU funds absorption, capital market, health, education, reducing bureaucracy, public administration digitisation, energy transition, climate goals and new EU priorities for the industrial sector. (Photo:https://www.presidency.ro/)
President Nicușor Dan has nominated Senate president Ilie Bolojan, a leader of the National Liberal Party (PNL) and former interim president, for the prime minister seat. Dan said Bolojan is “the best person to carry out the needed adjustments in the state administration.” He pointed to Bolojan’s track record with reducing spending, and said he has […]
Balkanik Festival – Home of World Music, set to take place at Uranus Garden between September 5 and September 7, lines up this year artists who "celebrate that form of joy that does not ignore reality, but faces it with beauty, energy, and solidarity," the organizers said. The artists performing in September in Bucharest will […]
The mayor of Timișoara, Dominic Fritz, announced on Friday, June 20, that two new bridges over the Bega River will be built in the city. The bridges will be financed with EU-backed funds worth over RON 130 million. The bridges in question are the Solventul Bridge, which will connect Gării Street to Dâmbovița Boulevard and […]
A Sarmatian necropolis nearly 2,000 years old was discovered after archaeological excavations were carried out at the Mehala II site in the municipality of Timișoara, in western Romania. Researchers discovered 15 inhumation graves, most arranged in rectangular pits with rounded corners, although some no longer retain their original outline, having been disturbed by the passage […]
The George Enescu Philharmonic Orchestra will deliver on June 26 a concert marking Romania Day at the Osaka World Expo. Additionally, the Bucharest-based orchestra will present a series of other concerts and recitals, both within the Romanian Pavilion and outside, at Toyonara Hall in Osaka. The George Enescu Philharmonic Orchestra's concerts will be conducted by […]
Sphera Franchise Group, the largest food service group in Romania, has opened its first Cioccolatitaliani store in the seaside resort of Riccione, in Italy’s Rimini tourist area. This marks the official launch of Sphera Group’s development plan for the premium Italian brand of coffee, gelato, and pastry. Under the plan, it will open four locations […]
