Dozens of German companies in strategic sectors keen on investing in Romania

Over 40 German defense, security, energy, industry and retail companies participating in a roundtable meeting organized in Berlin with President Nicusor Dan attending said they were interested in vetting Romania's capacity to attract investments and intensify Romania - Germany economic relations.According to a release from the Romanian-German Chamber of Commerce and Industry (AHK Romania), the Romanian-German business community welcomes the reform efforts initiated and planned by the Bucharest government, emphasizing that the strategic directions, especially in the areas of defense and security, industry and innovation, energy and green tech, as well as the measures adopted, must stimulate economic growth."On the one hand, we recognize the need to urgently implement fiscal measures to correct the budget deficit, but on the other hand we consider it a priority to make the public sector more efficient through public spending restructuring, increasing the administration's capacity along with reducing the administrative burden, combating tax evasion and removing the systemic causes for the buildup of deficits," the members of the AHK Romania community said.Furthermore, they argue that future public policies, as an integrant of the state's urgently required structural reform, must reflect a long-term strategic vision for Romania."Romania is a country with political stability and great investment opportunities, and we will do everything possible so that after these urgent measures the government must take, the new administration offers more predictability and fiscal and legislative stability. Romania will make efforts to reduce unjustified bureaucracy and to create a competitive and fair investment environment. We have a significant energy potential we want to use and an educated workforce. I encourage German companies to continue investing in Romania and I want to strengthen our economic relationship in the area of the defense industry. I also want us to explore ways for Romanian companies to get access to and expand on the German market," President Dan told German investors, according to the cited source.AHK Romania president Volker Raffel said the fact that the Romanian president was so quick to show openness to the German economy sends out a strong signal."There is already an extensive German presence in Romania and we feel a growing interest in continuing this commitment, in areas such as digital transformation, energy and manufacturing. Our members appreciate not only the economic conditions, but also the constructive collaboration with the Romanian authorities. Romania is an increasingly sought-after destination for sustainable, technology-oriented investments," said the head of AHK Romania.Sharing a border with Ukraine, Romania represents an important logistical and economic hub, both as a transit point and as a production location, in Ukraine's reconstruction efforts. German companies active in the region should grasp this opportunity, AHK Romania believes, especially for setting up more resilient supply chains and for expanding industrial cooperation."It's already evident that Romania is playing an increasingly important role in coordinating aid and logistics services for Ukraine. The regions around the cities of Iasi, Constanta, Braila-Galati, Suceava or Botosani are turning into important centers for European rebuild activities," said Sebastian Metz, AHK Romania's CEO, who acted as moderator of the round table meeting.President Nicusor Dan's visit to Germany shortly after taking office once again underlines the importance of bilateral economic relations, the German business community considers.Germany is Romania's No. 1 trading partner and the most important foreign investor, with bilateral trade exceeding 42 billion euros. Also, more than 10,000 companies with German capital are active in Romania, with German investments standing at over 17 billion euros.