The Romanian state, together with the German company Rheinmetall, the largest European weapons producer, will build a powder factory for ammunition worth 535 million euros in our country, the Ministry of Economy, Digitalization, Entrepreneurship and Tourism (MEDAT) announced on Wednesday in a press release."Today, in Germany, as a representative of the Romanian Government, Minister Radu Miru?? finalized the contractual framework for the realization, in Victoria (Brasov County), of a strategic investment: a powder factory for ammunition, built from scratch, which has the chance to be the most efficient in the world", the cited source shows.The signing ceremony took place in the presence of Rheinmetall CEO Armin Papperger and high-ranking officials: NATO Secretary General Mark Rutte, German Defense Minister Boris Pistorius, German Vice Chancellor Lars Klingbeil, Bulgarian President Rumen Radem.MEDAT specifies that "several intense weeks of discussions and negotiations, of serious work, with respect for partners, but with the firmness to defend Romania's interests" took place."When I took office, I found a contract with commercial provisions considered 'nailed in'. I could not accept less advantageous conditions than we have today for Romania. Today, we demonstrated that, if you negotiate correctly and firmly, even what others said was impossible can be changed," declared Economy Minister Radu Miruta, quoted in the press release.According to the minister, by reopening the discussions and invoking symmetrical commercial principles, Romania obtained: veto rights over major decisions; mandatory involvement of Romanian suppliers in the project; fair license costs; clearly quantified participation for the Romanian state.Compared to the contractual form taken over by the current minister, the negotiations led to savings for the Romanian state of over 93 million euros."This result was possible with the support of the Presidential Administration and the Prime Minister, but also thanks to a team of trained professionals, the Minister's advisor on development issues, Remus Cotut, who has earned the respect of his German partners," the statement added.Construction of the ammunition powder factory will begin next year, will last three years and will create 700 direct jobs in the area.Thus, Romania ensures the raw materials necessary for the arms industry and a role as a relevant regional player in the field."This is the reason why I insist that professionals be at the helm of state-owned companies: so that strategic investments like this have the right framework and people. I will not give in. And I will not give in when it comes to Romania's interests," Minister Radu Miruta also said.
The gross income of employees who worked full-time under a labour contract and were paid for the entire month of October 2024 was RON 8,374, more than a quarter above the basic gross salary of RON 6,553, according to data from the National Institute of Statistics (INS) published on Friday.Around 40% of these employees earned […]
Over 31,600 building permits for residential properties were issued in the first ten months of this year, up 4.1% compared with the same period last year, according to data from the National Institute of Statistics (INS) published on Friday.Increases were recorded in all development regions: West (+297 permits), Centre (+235), North-West (+192), North-East (+134), South-East […]
VAT revenues increased in the third quarter of this year by 6.74 billion lei compared to the same period last year, totaling 35.48 billion RON, out of a total of 94.75 billion RON for the first nine months of 2025, according to data transmitted on Monday by the Ministry of Finance.Of the amount of 6.74 […]
Banca Comerciala Romana (BCR) listed on Friday a new bond issue on the Regulated Market of the Bucharest Stock Exchange (BVB), worth 1.12 billion RON, the BVB said in a release.This is the 11th bond issue listed by BCR on the Stock Exchange to date, bringing the total value of BCR's listed bonds close to […]
Romania's insurance sector is strengthening its performance against the backdrop of a dynamic market undergoing significant structural transformation, according to a new study on developments in the insurance markets of Central and Eastern Europe, conducted by a consultancy firm in partnership with a research provider."Romania stands out as one of the most dynamic insurance […]
The minimum turnover tax is a barrier to investment, and in a period when the private sector is undergoing restructuring and layoffs, it adds additional pressure on companies, according to a letter signed by 14 investor organizations that once again request the elimination of the minimum tax."In view of the discussions on the construction […]
