The fiscal measures package is very bad news for investors and we see a drastic drop in trust in a very short period of just a few months, Daniel Anghel, president of the Foreign Investors Council (FIC) said in a press release sent on Wednesday."Last year, the foreign investment flowin Romania was 10 billion euros, the highest amount in over a decade, reflecting more trust from companies. Unfortunately, these sudden moves in fiscal policy motivated only by the desire to bring more money to the budget in the short term will negatively affect not only perception, but also investments as such in a period of macroeconomic uncertainty. Authorities should think about how to attract new investments, not just how to tax the existing ones more, because there is a risk that they will decrease," said Daniel Anghel, president of FIC.The latest edition of the Business Sentiment Index (BSI), conducted by theForeign Investors Council, shows that investors' perception of Romania has deteriorated significantly due to the fiscal measures package. According to FIC, only one third of investors responding to the BSI consider the Romanian market attractive in the autumn of 2023, due to the impact of the fiscal measures package, while more than half of FIC members consider that the economic environment in Romania has worsened in the last period, reaching a seven-year low.Signals about the possibility of new taxes are leading companies to be more cautious about allocating budgets for new investments, 20% of respondents will reduce their investment plans for the coming period, and the number of those expecting revenues to increase in the coming months fell from 70% in March to 54% in October. Perceptions of regulatory constraints are near an eight-year low (only 3.8% of respondents consider our country to be competitive in this respect). At the same time, the tax burden has worsened compared to the last 4 years (53% of respondents marked Romania as uncompetitive).As many as 52 out of 116 FIC members responded at this edition of the perception index.The Foreign Investors Council is the association that brings together the most important investors with foreign capital in Romania, about 120 of the largest companies in the country with a cumulative turnover that represents one fifth of the gross domestic product and that have a significant contribution to the state budget.
Romania took the presidency of the Central European Initiative (or CEI) on Wednesday, November 26, according to a press release from the Ministry of Foreign Affairs (MAE). The organization is a regional intergovernmental forum established in 1989, following the fall of the Berlin Wall. It gathers 17 Member States in Central, Eastern, and South-Eastern Europe […]
Trade between Romania and Poland continues to grow, with annual bilateral exchanges in goods now valued at more than EUR 12 billion, according to figures presented by the Polish-Romanian Bilateral Chamber of Commerce and Industry (PRBCC). The data was released during a reception in Bucharest marking Poland’s Independence Day and Romania’s National Day. Polish investments […]
As Romania moves closer to implementing the EU Pay Transparency Directive, local employers are preparing for one of the most consequential shifts in workplace regulation in over a decade. The directive, set for transposition by June 2026, introduces strict new rules on salary disclosure, pay reporting, and equal-pay verification, aiming to close persistent gender gaps […]
A young Romanian has developed a new system that allows people to return entire bags of recyclable packaging at once, replacing the traditional method of inserting bottles one by one into reverse-vending machines. The concept, called IZI, was created by Ștefan Parascanu, who returned to Romania after studying and working in the United Kingdom. The […]
JTI, the global owner of both Winston and Camel, announced on Thursday, November 27, a plan to build a new, state-of-the-art factory in Ștefăneștii de Jos, Ilfov County. Designed to replace the current Bucharest production site, which is operating under space constraints, the facility is scheduled for completion in 2027. Ground works at the new […]
The City Hall of Oradea, in northwest Romania, has begun installing new smart parking meters as part of its ongoing modernization and digitalization of the municipal parking system. The first batch of devices has already been placed in central areas, and the entire system is expected to become operational by the end of the year. […]
